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This video explains how to remove mortgage insurance from your conventional Fannie Mae or Freddie Mac mortgage. It includes notes on lender paid and borrower paid mortgage insurance.  You can read The Homeowners Protection Act of 1998 in its entirety....

In 2005 we had a joke in the mortgage industry that the only qualification a borrower needed was the ability to fog a mirror.  It was basically true.  As true as that was 8 years ago, the opposite is true today.  No matter how qualified you think you are, our...

This dates back to the summer of 2010, but it looks like the wheels are in motion to implement a change. The bad news is that there will be a new lower cap on seller concessions (seller contributions). The good news is that it will not be a hard reduction in seller...

FHA just released a new mortgagee letter 12-03 which has 3 important changes: Self Employed:  Highlight:  P&L and balance sheet required if it has been more than 3 months since the end of the last tax year that we have returns for.  Translated:  nearly 100%...

If you are considering purchasing a home using an FHA loan, you best move quickly. For FHA case numbers assigned on or after April 1st, 2012 there will be two increases in MIP. The first increase is due to our friendly politicians in Washington applying a payroll tax...

Our Team World-class service. No hassle closings. Expert advice. Unbeatable rates. The Ryan Mortgage Team at Fairway Independent Mortgage is comprised of mortgage experts who are there to provide you with intelligent answers in a timely manner. We are a mortgage...

I’m happy to pass along an exciting new product that Envoy has released in the past week. This program is for minor repairs to the home up to 2% of the total sales price. This allows us to handle certain properties where the investors require repairs, but we don’t...

What is an Energy Efficient Mortgage (EEM)? As the single largest housing expense after a mortgage payment, utility costs can have a direct impact on how large of a mortgage a homebuyer can afford. Buyers can save money on the cost of utilities by making energy...

What is a Streamlined (k) loan? A Streamlined (k) is a limited repair program offered by FHA. Repairs may be no less than $5000 and total funds required, including contingency fund and required fees associated with the program, may not exceed $35,000. The program...

Having trouble coming up with the 3.5% down payment required for your FHA loan? Still fruitlessly searching for someone who will loan you the money for your tax credit up front? Take heart. We have used our experience to determine the five easiest ways to get your...