|
GET THE APPVOVED CONDO LIST BELOW
 The Federal Housing Administration, generally known as "FHA", provides mortgage insurance on loans made by FHA-approved lenders (WCS Lending is one) throughout the United States and its territories. FHA is the largest insurer of mortgages in the world, insuring over 34 million properties since its inception in 1934.FHA insures mortgages on single family and multifamily homes including manufactured homes and hospitals.
As an Eagle FHA lender WCS FHA underwriters are right here in our offices, to assist you in securing loans in 48 states. for purchases or refinancing.
Racheli Smilovits as Your Personal Mortgage Advisor will walk you Hand in Hand through the process.
What dose it mean to you?
- quick response to questions
- ideas to have your scenario to work for an FHA loan
- Quick turn around times
FHA new Guidelines may cost you more to get an FHA mortgage
• The upfront mortgage insurance premium (UFMIP) will increase to 2.25 percent up from 1.75 percent. Contrary to reports, FHA will continue to allow the financing of the UFMIP.
• Borrowers with a credit score below 580 will be required to have at least a 10 percent down payment. The minimum down payment will remain at 3.5 percent for all other borrowers.
• FHA will seek legislative authority to increase the annual premium (currently capped at .55 percent). Over time, increasing the annual premium may allow FHA to reduce the upfront premium.
• Seller concessions will be reduced to 3 percent from 6 percent.
Read the entire press release
Usefull links-
|
