Q: I’m confused. I know that FHA home loans require borrowers to pay mortgage insurance as part of monthly payments, but now my loan officer mentioned something called an “up-front” mortgage insurance premium that has to be paid at closing. Is this correct, and if so, how much will... Read more
Despite changes in the FHA guidelines that increase the cost of obtaining an FHA insured loan, borrowers across the country are still using the government program to do more than just purchase a new home.   HUD approved lenders also offer the following mortgage programs: Rehabilitation Loans (203k) – The... Read more