News
Veterans and FHA Home Owners Waiting to Refinance Better Act Now - Interest Rates Rising
6/2/2009
Veterans and FHA home owners may have been waiting for the right time to refinance their VA or FHA loan. However, news of the recession ending is sending rates higher again. However, the Veterans Benefits Improvement Act of 2008 and special FHA mortgage rules can significantly lower interest rates and payments for the first 5 years on a new loan. This is a warning to home owners who have waited to take action and lower their mortgage payment
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Falling FHA home prices
8/25/2008
FHA home prices continue to dwindle across the country, making homes more affordable in most U.S. cities, according to a new report released Tuesday. Nationally, 55% of homes sold from April through June were affordable to veterans earning the U.S. median income of $61,500, according to a quarterly report released Tuesday by the National Association of Home Builders (NAHB).
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Lock in Your Low FHA Rates Now!
8/5/2008
The window of opportunity may be slowly closing for veteran homeowners who are looking to reduce their monthly payments on their FHA mortgages. Higher prices on many goods and services are showing that inflation may be increasing in the U.S. Interest rates may increase in the future in response to those conditions. Bond investors demand higher rates when they believe inflation is rising, since that reduces the value of interest payments from bonds. As for now, FHA rates still remain attractive, and as summer approached they were below levels from twelve months ago. However, no one can be certain how long today's favorable conditions will be available. Many veteran homeowners now are eager to lock in the benefits of fixed-rate mortgage payments. If you plan on staying in your home for several years, this may be your best chance to obtain affordable payments which won't change while you live there. The FHA loan specialists at LowFHALoanRates.com will show you how different home loans would fit into your budget now, so that you can make an informed choice. Affordable payments allow you to enjoy your home a little more each day.
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Benefits of Getting a FHA Home Loan
7/8/2008
There are exceptional benefits in using your eligibility to obtain a FHA home loan. Veteran home loans save you a great deal of money by giving you the best rates with no monthly mortgage insurance which is a huge plus! Also, it is easier to qualify for FHA home lonas. The FHA even offers extra benefits for disabled veterans. So if you have been disabled in service, a military loan can save you even more. The program is truly designed to give America's best an outstanding opportunity to get in the home buyer market. One of the benefits is that if you have bad credit but have been improving your credit history for the past year, you can get the same low interest rates for veteran home loans that are available to those with great credit. Even with a Loan-to-Value of 100% (which means that the loan is equal to the sales price or appraised value) there is no monthly Mortgage Insurance required for a FHA home loan. The loan is quarantined by the U.S. Government so there is no insurance required. This can potentially save you hundreds on your monthly payments! FHA mortgage loans are often assumable which increases the appeal to future buyers when you're ready to sell. To make things even more appealing, the FHA has released a hybrid Adjust Rate Mortgage, commonly known as an "ARM". Veterans now have a choice of a Fixed rate or an Adjustable rate FHA mortgage. Let the FHA professionals at lowfhaloanrates.com help you decide which loan is best for you.
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Higher FHA Real Estate Values
7/7/2008
It has been estimated that in about five years real estate values will be up from today's levels in 99 percent of all U.S. housing markets. This means it is the perfect time to buy a house with a FHA loan. There are many reasons for people to get into the housing market today, and very few reasons not to. With the plentiful supply of homes for sale at affordable prices, intrest rates approaching 40-year lows, and the strong track record of housing as a good long-term investment, conditions are ideal for buyers using FHA loans. Knowing your mortgage payments will remain affordable for years takes away a major concern many have. Let Flagship Financial Group, your FHA loan specialists, show you how different financing plans would fit into your budget and you'll be ready to locate a wonderful new home for you and your family!
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Helping Veterans Get the Best Deals on FHA Loans
7/7/2008
Most veterans buy a house only a few times in their life. There are many steps involved so purchasers generally don't completely understand the process. This is why it is crucial to work with professionals you can trust when buying a home. Since you can't personally find the time and develop the expertise to make sure all details are handled correctly, FHA professionals at Flagship Financial Group are here to help you out. One simple thing to do is ask plenty of questions before committing to a FHA loan provider. Too many consumers make a choice by asking "What's your rate?" and then choosing whoever gives the lowest answer. This is very misleading, since rates are set by the markets and not by lenders. Also, there are other crucial aspects to a loan which should be considered before signing papers. One of the first things veteran home owners should do is make sure your property type is eligible for the loan you are getting a quote on. Also, determine that you qualify for the rate. A small down payment or low credit score can alter the rate you'll receive. Look at the mortgagte's total cost as well. Closing costs and cash reserve requirements will affect your finances as much as your interest rate will. Finally, be sure that loans have the same features before comparing them. Also, remember that FHA loan rates change constantly, so prices received at different times will vary. A quote you got last week may not still be available now. If you're looking at FHA adjustable-rate mortgages, be sure you understand hwo your payments could change in the future. Be sure you can afford the mortgage if a "worst case" rate adjustment occurs later on.
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