FHA loans

Costs of FHA Loans Set to Rise in 2013

By Marketing Relevance / March 11, 2013 March 11, 2013

Beginning April 1, the mortgage insurance premium will be rising by 0.1 percent to 1.35 percent for FHA loans. While some would-be homeowners would gloss over this small amount, is it the first part in a bigger problem; on June 3, the duration of the mortgage insurance will lengthen significantly, to the point where it …

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New Rules for FHA Mortgage Loans

By Marketing Relevance / October 6, 2010 October 6, 2010

The FHA has made some changes that could affect Chicago home buyers. The Federal Housing Administration, known as the FHA, provides mortgage insurance on loans made by FHA-approved lenders. It is the largest insurer of mortgages in the world. Starting October 4: *Borrowers with a credit score below 500 will no longer be eligible for …

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