Ishakis Finance Report Mortgage Broker Brooklyn
Loan Officer Yael Ishakis’s take on mortgage and finance news.
Those who are involved in the mortgage industry must keep updated on changes to FHA, and Fannie Mae (FNMA) loans. Since loan limits and other changes are often made annually, keeping up with these changes helps make sure consumers get the right information at the time of their application.
There’s a saying that the only things that we’re certain of, are taxes and death. Just as we know that we will die someday, we also know that we have to pay taxes but we’re not always sure about how we will be taxed and the hardest thing to understand is the income tax. If… Continue reading The FHA loan changes that all prospective homeowners should know of
Beginning Monday, June 11, the FHA is changing its mortgage insurance premium schedule for the second time this year.
Planning to use an FHA-backed mortgage for your next home loan? You might want to get your application in gear today.
Beginning mid-June 2012, certain current, FHA-backed homeowners will be able to refinance their existing FHA mortgage into a new one, without having to pay the government-backed group’s new, costly mortgage insurance premium schedule.
Beginning April 1, 2012, the FHA is once again raising its mortgage insurance premiums.
As signed into law last Friday, maximum FHA loan limits are — once again — as high as $729,750.
Because of how frequently bank rules are changing, it can be hard for laypersons to distinguish between mortgage fact and fiction of what’s coming next. Recently, we saw this with respect to FHA home loans.