Baltimore FHA loan

FHA Mortgage Insurance Premium Reduction 2023

March 2nd, 2023

The Department of Housing and Urban Development (HUD) just announced that the FHA Annual Mortgage Insurance Premiums will be reduced by 30 basis points. Basis points are charged to homebuyers who procure an FHA-insured mortgage. The Federal Housing Administration (FHA) states that this reduction, which goes into place on March 20, 2023, could possibly save [...]

FHA Mortgages Allow for Downpayment to be a Gift

February 7th, 2017

FHA mortgages allow for the full downpayment to be a gift. Currently, FHA mortgages require a 3.5% downpayment from a buyer, in addition to local closing costs, including transfer taxes, mortgage costs, title company and local charges, and possibly other closing costs. What many FHA homebuyers may not know is that the 3.5% downpayment can be [...]

FHA Back To Work Program

August 18th, 2013

The FHA Back to Work - Extenuating Circumstances Program is in effect as of August 15, 2013. What is the FHA Back To Work - Extenuating Circumstances Program? It is a program for potential mortgage applicants who have gone through a financial hardship due to either unemployment or large reduction in income. The FHA Back [...]

FHA Mortgage Insurance Premiums to Rise April 1, 2012

February 28th, 2012

FHA mortgages are very popular in the Baltimore real estate market. For not much money down, Baltimore homebuyers can get into the home of their dreams, and use any reserves they have to decorate or buy furniture. The amount that may be in reserves is going to lessen by a significant amount on April 1, [...]

FHA Loan Limits Remain High

December 9th, 2011

The loan limits for FHA are at a decent amount, thanks to Congress voting to reinstate the loan limits that had been in place before, but had lapsed. Currently, the limit for an FHA mortgage in Baltimore County is $560,000. That was due to drop down to $494,500, which could have really hurt [...]

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