Since the rules for the mortgage industry changed, the demand for FHA lenders has increased tremendously. Mortgage companies need the government loan programs, because they fill several lending voids for first time home buyers, homeowners that have no equity and for people with bad credit. FHA Approved lenders have access to loan programs that accept credit scores as low as 500. FHA also provides an opportunity for new home buyers to finance a home with only a 3.5% down-payment. Lenders also like FHA because the loan programs offer refinancing options for homeowners who have very little equity. We will connect with FHA lenders that offer low FHA mortgage rates for the government finance solutions that best meet your needs.
Find a FHA lender in your area with great rates! Shop FHA lenders online and get connected to 203K lenders, and first time home buying specialists. Stop wasting your time with lenders that have no experience with FHA refinancing if you are unable to qualify for conventional mortgage programs.
Many States Have Underwater Mortgages - If anyone thinks that things are improving in the housing sector they should read this article. Nearly a third of all Americans are stuck with an underwater mortgage.
Obama Helping Fannie and Freddie – Even though the President has talked tough in regards to demolishing Fannie Mae and Freddie Mac, most insiders believe that Obama will continue to bail out these government sponsored enterprises.
FHA News - It seems like it was yesterday when the Department of Housing and Urban Development rolled out the FHA short refinance program in an effort to provide a solution for underwater homeowners. Originally the FHA program was expected to help between 500,000 and 1 million struggling homeowners. As of August 31, 2011, only 27 FHA lenders are participating in the program. HUD has not been successful in incentivizing mortgage service companies to provide the mortgage help and payment relief to vast number of underwater homeowners.