All Posts Tagged With: "15"
Will HUD Allow FHA Loans With No Money Down?
Has HUD changed its mind? On Monday, May 11th, HUD posted Mortgagee Letter 2009-15 which explained that “Federal, state, and local governmental agencies and nonprofit instrumentalities of government, FHA-approved nonprofits, and FHA-approved mortgagees may provide short-term or “bridge loans– secured only by the anticipated tax credit due the homebuyer as collateral.” Immediately the letter was [...]
18May2009 | Peter G. Miller | 0 comments | Continued
What are the pros and cons of 15-year mortgage loans?
A 15-year mortgage will have a somewhat lower interest rate than a 30-year loan and WILL substantially reduce your overall interest cost. The catch is that monthly payments are higher, and not everyone can qualify for 15-year financing for that reason. The second catch is that high monthly payments can be a big problem if [...]
31Aug2008 | Peter G. Miller | 0 comments | Continued
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