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FHA loans: Definition, requirements and limits
Bankrate via AOL· 14 hours agoThese go into the Mutual Mortgage Insurance Fund (MMIF) that covers loss claims. Although you’ll pay the premiums as the borrower, FHA mortgage insurance...
How to prepare for FHA appraisal requirements
Bankrate via AOL· 5 days agoKey takeaways An FHA appraisal assesses your home’s market value and condition to determine whether the home loan is a sound investment for the...
FHA loan requirements for 2024
FOX Business· 5 days agoThe maximum DTI for an FHA loan is 43% unless the borrower has “acceptable compensating factors,” in which case you can be approved with up to a 47% DTI ...
What is correspondent lending?
Bankrate via Yahoo Finance· 13 hours agoCommunication with the lender: Unlike with a mortgage broker, you deal directly with the entity funding your loan and setting the guidelines. They can...
Today's 15-year mortgage rates go down while 30-year mortgage rates hold steady | April 23, 2024
FOX Business· 21 hours agoThe interest rate on a 15-year fixed-rate mortgage is 6.500% as of April 23, which is 0.125...
Assumable mortgage: What is it and how does it work?
Bankrate via AOL· 7 days agoThe main types of mortgages that can be assumed are FHA loans, VA loans and USDA loans: FHA loans: For FHA assumable mortgages, you’ll ...
VA loans: What they are and how they work
Bankrate via AOL· 5 days agoThese types of mortgages have more relaxed baseline requirements than conventional loans, and sometimes better interest rates, too. Here’s a...
How to get a home equity loan with bad credit
Bankrate via AOL· 6 days agoIf you aren’t ready...lenders set stricter criteria, demanding scores squarely in the “fair” range. A score in the 500s – good enough for an FHA mortgage...
What is an energy-efficient mortgage (EEM)and how can it save you money?
Bankrate via Yahoo Finance· 5 days agoWhat is an energy-efficient mortgage (EEM)? An energy-efficient mortgage (EEM) is a loan for...
What is a loan-to-value ratio?
Bankrate via Yahoo Finance· 5 days agoLoan-to-value ratio requirements by loan type There are many types of mortgages, and their specific loan-to-value ...
