Category Archives: Lending


Just received an infographic from Genworth Financial comparing the costs of FHA vs. PMI that I thought I’d share. For those readers considering a mortgage for their home purchase and contemplating an FHA loan compared to a loan with private … Continue reading

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FHA mortgage insurance rates increase next week

Effective April 1, 2013 the Federal Housing Administration’s (FHA) will increase its annual mortgage insurance premium (MIP) for most new mortgages by 10 basis points or by 0.10 percent. This increase will bring the mortgage insurance rate to 1.35 percent. … Continue reading

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Mortgages through Wal-Mart?

Would you buy a mortgage through Wal-Mart? One in three consumers would consider it. See the NBC News story here: 33% say they would buy a mortgage from Wal-Mart. “One in three U.S. consumers would consider a mortgage from retailer … Continue reading

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Mortgage rates at all-time record lows

According to a press release by Freddie Mac average fixed mortgage rates fell to new all-time record lows for the second consecutive week. See yesterday’s press release here: Mortgage Rates Hit All-time Record Lows For Second Consecutive Week From the … Continue reading

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Big changes for down payment assistance programs

[On Friday last week I received the following message from Lisa Fleck, a Sr. Loan Consultant at Summit Funding, Inc. as well as a contributor to this blog. In her email, Ms. Fleck details recent changes to the Nevada Housing … Continue reading

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What is an FHA 203(k) loan and how can I use it?

I read an article today regarding using FHA 203(k) loans to purchase and rehabilitate distressed properties. In the piece the author gave some “for instance” examples, such as… [purchasing and turning] a dilapidated, community eyesore into a college rental that … Continue reading

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Changes with the Nevada Rural “Home at Last” program

Did you know that as of July 2, 2012 the Nevada Rural Housing Authority’s “Home at Last” program is no longer limited to only first-time buyers (those who have not owned a home in the last three years). Here are … Continue reading

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Condo or townhome? It makes a difference when financing

Yesterday, I wrote about the rising prices of condominiums and townhomes. In keeping with the condo/townhome theme, today I’d like to pass along some information that was sent to me by one of my lender contacts at New American Mortgage … Continue reading

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