SORT BY Relevancy
Should a Buyer With 20% Down Get an FHA Loan?
Conventional loans require private mortgage insurance if a buyer cannot put 20% down. FHA loans require mortgage insurance regardless of how much money is put down initially. Conventional wisdom says that buyers should only consider getting an FHA loan only if they cannot put 20% down. This piece will question that position and ask: Should someone who can put 20% or more down consider getting an assumable loan (e.g. FHA) even though the assumable loan would require paying mortgage insurance?
Several weeks ago, when rates were higher, I asked well known local blogger and Licensed Mortgage Originator Rhonda Porter of mortgageporter.com to run me some numbers on two different loan packages. The first was an FHA loan, which at the time had a 5% rate (5.403 APR). The second was a conventional loan that had a 5.125% rate (5.201 APR). The initial loan costs on each loan were relatively close to each other, and the most significant difference between the loans was that the FHA loan still required mortgage insurance, both an up front amount and monthly amount of $132.44 for the first 60 months.
Most buyers today probably pick the conventional loan to avoid paying the mortgage insurance. My reason for doing this piece is that FHA loans are generally considered assumable loans. That made me wonder: Can there be scenarios where a buyer would be better off having an assumable FHA loan, even if they have to pay mortgage insurance?
For the latest Valencia real estate news - make sure you click on the preceding link.
It seems there is a drive to get FHA to start moving forward again with the reapproval of the condo and townhome complexes that lost their eligibility back during the last crash of the real estate market.
We are the Valencia CA realtors serving our real estate clients in the Greater Los Angeles Areas. Be safe - Search well.
We are the Paris911 Team of Realtors. Thanks for listening
Having trouble paying for your fertility treatment? Are you considering borrowing money to pay for treatment? Host Dawn Davenport will be talking with representatives of the leading lending entities that lend specifically for paying for infertility treatment. You must listen to this show if you are considering taking out a loan for fertility treatment.
in Real Estate
On this episode of Community Investor with host, Larry Muck learn more about crowd funding and private equity funds with Matt Burk, CEO of Fairway America. He'll share his thoughts on creating better private equity funds, crowd funding, and supporting transparency and integrity for investors.
For more information or to ask the Host a question go to http://www.larrymuck.com
Derek Nelson is a financial planner and he is Catholic. He will tell us about how to handle money as well as how to pay off debts. He has a great story of how to pay off a mortgage without taking out additional loans.
FHA’s Loss Mitigation Program was established in 1996 to ensure that distressed FHA mortgagors were afforded opportunities to retain their homes and to assist in minimizing losses to FHA’s Mutual Mortgage Insurance Fund.
Joining the broadcast today to discuss challenges servicers face specific to loss mitigation in today’s environment is....
Donna Schmidt, Managing Director and Principal at DLS Servicing and Michael Meroney, Director of Business Development and Consulting at DLS Servicing.
ROBBY WELLS 2016 PRESIDENTIAL CANDIDATE WILL BE JOINING US LIVE.
Robby answers the Liberty Candidate questions below:
I) Re. the U.S. Financial System:
1. What is your view of the monetary system in the U.S. today?
The United States faces major challenges because of the Federal Reserve (FED). The Fed is a secret society that has devalued the face amount of the dollar by 95%. By printing money out of thin air, the FED has made the value of the dollar plummet and the prices for goods and services continue to climb. The FED does secret deals with top executives on Wall Street, loans money to foreign banks, manipulates interest rates, and has lined the pockets of those in political power. As President, I will push Congress for a full audit of the FED and have it shut down. According to Article I-Section 8 of the United States Constitution, “The Congress shall have Power To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.” The Constitution does not give the power to a central bank (FED). This will change under my watch.
This broadcast is sponsored by Abundant Grace Ministries. In this episode, we discuss the need for education and provide listeners with a more contemporary definition and approach to education. We take a look at the return on investment of a traditional education. We also address issues inherent to pursuing a formal degree that are often over looked by students that ultimately end up changing their lives, lead to obsolescence, and are drastically increase the costs of pursuing a formal degree.
Sarae is joined by Carlos Colón, Bilingual Personal Finance Coach at mpowered, to talk about what student loan consolidation options are available and what you need to consider before deciding whether consolidating student loan debt is a good fit for you.
Click here for more information about federal student loan consolidation.
in Self Help
Have you ever had the thoughts of pursuing your passions and starting your own business?
The New Year is right around the corner, think its about time you gave it some serioius thought?
One of the first steps in starting a business is to develop a business plan of goals and objectives. The soundness of your business plan will depend a great deal on your personal knowledge, experience, and ideas. Developing a good, flexible business plan will often determine whether your business will succeed or fail.
Being an Entrepreneur includes many responsibilities.
Entrepreneurs organize and manage business undertakings, assuming the risks involved in achieving their goals. They come from various economic backgrounds and have some things in common.
Join me Janice Clarke Holistic Health Practitioner, Master Herbalist, Nutritional Consultant Reiki Practitioner and Host of the SOULFUL HEALINGTALK SHOW, with our special guest Derek McSween a World Class Program Strategist, Leadership Trainer and International Speaker,
Derek will be bringing to us his passion and his extensive corporate business leadership experience and share valuable lessons on how to start your own small business and the steps to take.
Throughout his career Derek McSween has been able to cross many cultural and corporate borders and consistently deliver immediate value, on point, and fulfill each of his diverse clients’ needs in the United States of America, Germany, UAE, Pakistan and Afghanistan.
A show not to miss!!
Catch you at our ME TIME!