Category Archives: FHA

FHA Home Loan Limits in Illinois

Posted on March 25, 2018 by Neena Vlamis, President of A and N Mortgage

FHA (Federal Housing Authority) loans on single and multi-unit properties are designed for borrowers who are unable to make large down payments. Instead of the traditional 20% down payment required by banks, FHA loans only require a 3.5% down payment … Continue reading →

Posted in FAQs, FHA, FHA Loan, Home Page Blog, Tips and Tricks | Comments Off on FHA Home Loan Limits in Illinois

I have been receiving a lot of questions about FHA Mortgage Insurance Premium, Here are Some Answers

Posted on October 31, 2011 by Neena Vlamis, President of A and N Mortgage

FHA mortgage insurance is similar to the private mortgage insurance (PMI) required for conventional mortgages with down payments below 20%, but key differences exist: Up-front Fees: 1% up-front fee due at closing. Rate: For fixed rate loans, there is an … Continue reading →

Posted in a and n mortgage, Chicago, commercial loan, conventional mortgage, credit history, down payment, FHA, lending, MIP, pmi, refinance | Comments Off on I have been receiving a lot of questions about FHA Mortgage Insurance Premium, Here are Some Answers

FHA: Fewer Home Approvals

Posted on October 27, 2011 by Neena Vlamis, President of A and N Mortgage

The Federal Housing Administration suffered a 27% drop in market share from fiscal 2010 numbers. Department of Housing and Urban Development numbers show that while FHA refinance volume has increased by 9% since August, the 12% drag on purchase production … Continue reading →

Posted in a and n mortgage, Chicago, condominium, FHA, FHA Loan, Home approvals, housing, Loans, refinance | Comments Off on FHA: Fewer Home Approvals

The FHA Mortgage Insurance Premium

Posted on October 17, 2011 by Neena Vlamis, President of A and N Mortgage

FHA mortgage insurance is similar to the private mortgage insurance (PMI) required for conventional mortgages with down payments below 20%, but key differences exist: Up-front Fees: 1% up-front fee due at closing. Rate: For fixed rate loans, there is an … Continue reading →

Posted in a and n mortgage, FHA, FHA Loan, FHA Mortgage Premium, MIP, Mortgage banker, pmi | Comments Off on The FHA Mortgage Insurance Premium