The “No-Cost” FHA Streamline Refinance May Be a Thing of the Past

September 18, 2009

HUD’s issuance of Mortgagee Letter 2009-32, Revised Streamline Refinance Transactions today may have effectively put an end to a popular program for FHA borrowers – the “No-Cost” FHA Streamline Refinance. For years, millions of home owners with FHA loans have taken advantage of the opportunity to refinance their mortgage to a lower interest rate without [...]

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FHA Announces Major Changes To Streamline Refinance Requirements

September 18, 2009

FHA issued MORTGAGEE LETTER 2009-32 today announcing revised procedures for streamline refinance transactions.  The changes are effective in 60 days from the date of the mortgagee letter (September 18, 2009). Aside from the reaffirmation of existing procedures streamline refinance transactions, the following key revisions were announced: Seasoning Payment history Net tangible benefit for the borrower [...]

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Need Another Reason to Finance Your House with an FHA Mortgage? They Are Assumable.

September 7, 2009

FHA mortgages continue to be an extremely attractive means for financing homes in the current economic and housing environment due to their low down payment requirements, liberal underwriting guidelines, affordable interest rates and government insurance. In fact, the majority of the mortgages funded in our office have been FHA loans.  In addition to the fantastic [...]

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Will the Obama 8000 First Time Home Buyer Tax Credit Be Extended?

September 3, 2009

Many people want to know if the existing Obama $8000 first time home buyer tax credit that expires on December 1st, 2009 will be extended. This is a good question. As of today, there is just under 60 days left to… look for; put in an offer on; negotiate and have the offer accepted on; [...]

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Best FHA Lender Update August 2009

August 25, 2009

Best FHA Lender Update: A lot has changed for me over the past couple of months and because of that, I have found it difficult to update Best FHA Lender as I should. Therefore, I thought that it would be good to provide a quick update to what I have been doing. Change of Companies [...]

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Everything You Want To Know About The 2009 Obama 8000 Tax Credit for First Time Home Buyers Being Used For FHA Down Payment and Closing Costs

June 5, 2009

Can you use the Obama 8000 tax credit for your FHA down payment? Yes, No, Maybe So. Last month on May 12th, Secretary of Housing and Urban Development Shaun Donovan created a fervor in real estate and mortgage industry when he announced in a speech to National Association of Realtors that FHA was working on [...]

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Top 10 Reasons College Graduates Should Use FHA Loans to Buy a House

May 21, 2009

Why College Graduates Should Use FHA Loans to Buy a House. May is graduation month across America and Best FHA Lender would like to offer congratulations to all of the recent college graduates.  What an exciting time in your life.  You may have been offered a nice starting position and the door to your future [...]

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The Obama 8000 Tax Credit for First Time Home Buyers in 2009

May 19, 2009

What are the differences between the 2008 tax credit law and the 2009 first time home buyer tax credit law? Last year a first time home buyer tax credit of up to $7500.00 was created as part of the Housing and Economic Recovery Act of 2008.  It went into effect on April 8th, 2008 and [...]

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Arizona FHA Loans and Arizona FHA Mortgage Rates

May 5, 2009

FHA loans are a perfect tool if you are thinking of buying a house in Arizona

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FHA Loans and Recommendation for Growing Families

April 26, 2009

Best FHA Lender Recommends Baby Fabulous Considering that many of the home buyers that I help to obtain FHA mortgage loans have young children or are starting  their families, Best FHA Lender would like to recommend a fantastic website, Baby Fabulous.   Baby Fabulous is a fashion-forward infant and toddler lifestyle brand specializing in organic baby clothes [...]

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