FHA cuts mortgage insurance premiums

FHA cuts mortgage insurance premiums

The Federal Housing Administration (FHA) has announced a 30-basis-point reduction to the annual mortgage insurance premium (MIP) charged to borrowers. The cut will take effect for FHA loans closing on or after March 20, 2023, and new FHA borrowers are expected to save an average of $800 a year. These savings will expand homeownership opportunities ...

First Time

5 popular mortgage programs for first-time homebuyers

Buying your first home can be a challenge. There’s a down payment to save for, credit score minimums to meet and a monthly payment to fit in your budget. However, with the right mortgage program, you may be able to purchase your first home with less cash, easier qualifying requirements or lower monthly expenses than ...

Large brick home in suburbs with circular driveway - Jumbo Mortgage

Jumbo mortgages: what they are and when you need one

Mortgages aren’t one-size-fits-all. Depending on how much financing you need or want for a home, your loan might be classified as a jumbo mortgage. This type of loan comes with unique requirements and benefits.

Mortgage Loan Limit

What mortgage loan limit increases mean for you

You may have seen our recent announcement that conforming and FHA loan limits are increasing for 2023. This is great news because it means that two of the most popular types of mortgages are now (or will soon be) available for bigger loan amounts. Higher limits allow homebuyers and homeowners to use these loans for ...


4 ways a home seller can lower your homebuying costs

When buying a home, one of your goals is to negotiate with the seller for the best possible deal. This was a difficult task during the red-hot real estate market of the past few years when competing buyers bid up home prices in many parts of the country. But now, with the housing market cooling ...

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