Category Archives: FHA

FHA Home Loan Limits in Illinois

Posted on March 25, 2018 by Aaron Gitler

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 Aaron Gitler

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 Aaron Gitler

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