Is now a good time to buy a home? Yes, it is. In fact, winter and spring 2023 will likely be the best window homebuyers will have for the next several years. There are a lot of misleading headlines out there right now about interest rates, housing price drops and a potential crash of the […]
If you’re looking for ways to make your dreams of homeownership come true, you’ve likely come across FHA loans, which are backed by the Federal Housing Administration. The big draws for FHA loans are the low down payment and credit score requirements – 3.5% down for borrowers with credit scores of 580 or higher. But […]
Have you bought a home with an FHA loan recently? If so, you probably remember the FHA’s upfront mortgage insurance premium (MIP). Paying this fee helped you qualify for this popular homebuying program. But fewer borrowers know the FHA will refund part of this 1.75% upfront mortgage insurance premium – if you refinance into another […]
Army Specialist Dorothy Konkright’s life has changed significantly in the past few years. She and her husband, Army Sgt. Austin Konkright met Feb. 4, 2019, when she had just returned from a deployment in Afghanistan. Two months later, they were married. “We instantly clicked,” she says of their connection. Life didn’t slow down from there. […]
Greater Boston Conforming Loan Limit Raised to $726K The maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac will increase by 12 percent in 2023, with the limit for two Massachusetts counties exceeding $1 million. The Federal Housing Finance Agency said in a statement today that the loan limit […]
What are the FHA loan requirements in 2023 Federal Housing Administration (FHA) mortgage loans are popular for two reasons: low credit score and low down payment requirements. FHA mortgage loans are especially popular among newer buyers. First-time homebuyers made up more than 83% of FHA purchases in 2020. FHA loans have their downsides, too, like permanent mortgage insurance. But […]
Your credit score is one of the key factors in getting a mortgage. But you can buy a house even if your score is low – especially if you opt for a government-backed mortgage, like an FHA loan. FHA loan credit score requirements are more lenient than you’ll find with most conventional mortgages, making it […]
