All Posts Tagged With: "HECM"
FHA Loan Limits Rise, Conventional & VA Mortgage Limits Stick
It didn’t take long for the lower mortgage limits that began October 1st to be changed. As of November 18th the mortgage rate limits were selectively revised with FHA loan limits increasing but with conventional loan limits staying the same. Does this change make a lot of sense? No. Is this change the law of [...]
25Nov2011 | Peter G. Miller | 0 comments | Continued
New FHA, VA and Conventional Mortgage Loan Limits
As of October 1, 2011 new and lower mortgage loan limits will be here unless Congress unites and stops the planned changes. Since Congress unites over very few things borrowers are likely to find bright and new loan limits as of Oct. 1st. Note: This material is now out of date. Please go to: FHA [...]
12Sep2011 | Peter G. Miller | 0 comments | Continued
Mortgage Loan Limits — Conventional, FHA, VA
The high mortgage loan limits and policies started during the foreclosure worries of 2008 will continue through 2011. Note: This material is now out of date. Please go to: FHA Loan Limits Rise, Conventional & VA Mortgage Limits Stick. There are several types of mortgage loan limits. Generally, most borrowers need to look at conventional, [...]
15Nov2010 | Peter G. Miller | 1 comment | Continued
Up-Front Reverse Mortgage Fee Now Less Than An Oil Change
HUD is out with its newly-minted HECM Saver reverse mortgage and the program has one stunning feature: It requires virtually no FHA insurance premium up front. Reverse mortgages are often in the news, an unusual loan program intended for home owners age 62 and above. In essence, a reverse mortgage is a huge, negatively amortizing [...]
4Oct2010 | Peter G. Miller | 1 comment | Continued
Are Reverse Mortgage Premiums Justified?
While most of the mortgage marketplace is in a funk, reverse mortgages are a significant bright spot. HUD says it originated more than 107,000 reverse mortgages in fiscal 2007 — a figure up more than 40 percent from a year earlier. The HUD numbers are important because the FHA is generally said to insure about [...]
19Sep2008 | Peter G. Miller | 0 comments | Continued
$30,000 For A Reverse Mortgage?
HUD presents itself as the borrower’s friend, your buddy when it comes time to get a mortgage. There’s considerable truth to this claim, just look at FHA mortgages in general. While much of the mortgage marketplace is melting down, the latest numbers from HUD show that the FHA program is likely to double in size [...]
18Sep2008 | Peter G. Miller | 0 comments | Continued
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