The FHA 203k Home Improvement Loan – Part 4

The FHA 203K program is a wonderful tool to help homeowners and potential buyers with home repair and remodeling projects. Over the course of the last few posts we have shown you some of the basic guidelines for these types of loans. We will conclude this series with questions frequently asked about this topic....

FHA recently changed their upfront mortgage insurance premium. This should NOT keep you from using the FHA program! The FHA changes will help protect the program from disappearing as many mortgage options have in recent times. Even with slightly higher premiums it only amounts to a 0.005% increase in the upfront mortgage insurance premium. This program can still help many homeowners refinancing their mortgage:

FHA Rate and Term Refinance:
FHA...

Wisconsin Illinois Minnesota and Florida FHA Identity of Interest Transaction (family member to family member purchase)

There’s not a lot of information on this topic, so today I thought I would discuss what it is and what it means to you.

Not too long ago, purchasing a home from a family member and having them gift you equity so that you could get a better interest rate or lower loan to value was an easy task but that is no longer the case....

Are Wisconsin FHA Mortgages only for First Time Home Buyers?

This question has been asked of me several times this past month, so I thought I would write this to clarify for everyone.

First, lets start with the definition of a first time home buyer. Put simply, if you haven't owned a home in the past three years, you would be considered a Wisconsin first time home buyer.

Secondly and the answer to the question, FHA loans are considered...

With all of the recent changes in Appleton FHA loans, I thought I would take the time today to share information that you as a home buyer should know.

Down Payment:
First, we’ll start with the down payment. About a year ago, FHA changed the requirement to 3.5% of the purchase price. 3.5% is not a lot and may be raised to 5% or more in the future. In the mean time, if you don’t...