How FHA Mortgage Insurance Premiums Work
The Federal Housing Administration's role in mortgages is different from the role of Fannie Mae and Freddie Mac. The FHA doesn't "buy mortgages" from banks like Fannie and Freddie do in order to create market liquidity.
Rather, the FHA is an insurer of mortgages.
It works like this: The Federal Housing Administration publishes official mortgage guidelines...
Contact your local tax office
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Exemptions for Age or Income Level
The South Florida housing market could begin 2017 with plenty of bullish buyers ready to spend recent investment windfalls from all-time stock market highs, experts say.
Rising interest rates eventually may dampen demand, but market...
Our 2017 forecast as a moderation, as opposed to a slowdown," says Smoke. "The pace of growth is still strong and, for pricing, still represents an above-average level of appreciation."
Smoke says we're mostly reverting to normal prices, after years of appreciation as the housing market recovered from its 2008 crash.
Pre-qualification is the initial step in the mortgage process, and it's generally fairly simple. To pre-qualify for a mortgage, you meet with a lender (though the procedure can also be done over the phone or on the internet), and provide information about your assets, income, and liabilities.