National News - Indiana 203K Mortgages

Great News Indiana! FHA Lowers Mortgage Insurance Premiums For Some Refinancing!

Great News Indiana! FHA Lowers Mortgage Insurance Premiums For Some Refinancing! The Federal Housing Administration will lower mortgage insurance premiums for borrowers who refinance their loans as part of President Barack Obama’s plan to improve the housing market. The FHA will reduce up-front premiums to 0.01 percent of total loan amount from 1 percent under the plan announced by Obama. Annual fees will be cut to 0.55 percent from 1.15 percent for borrowers with FHA loans made before June 1, 2009, according to a fact sheet distributed by the Obama administration. ”I’m not one of those people who thinks we should just sit by and wait for the housing market to hit bottom,” Obama said at a recent news conference. “There are...

Indiana Mortgage Relief: Obama Announces Help for Homeowners

Indiana Mortgage Relief: Obama Announces Help for Homeowners WASHINGTON — President Barack Obama is aiming mortgage relief at members of the military as well as homeowners with government-insured loans, the administration’s latest efforts to address a persistent housing crisis. On the heels of economic crisis, any Indiana mortgage relief is a welcome sight! In his first full news conference of the year Tuesday, Obama announced plans to let borrowers with mortgages insured by the Federal Housing Administration refinance at lower rates. That could save the average homeowner more than $1,000 a year. Under the housing plans Obama announced Tuesday, FHA-insured borrowers would be able to refinance their loans at half the fee that the FHA...

203K Streamline – What Improvements Are Eligible With The 203K Streamline Loan?

In today’s real estate market and economy more people are looking for ways to improve their home. Also people are buying bank foreclosures and fixing them up. But the problem many people are running into is the difficulty of getting a construction or rehab loan. That is where the 203K Streamline Loan steps in. The official name of this program is the FHA Streamlined 203(k) Limited Repair Program. The 203K Streamline Program will allow a homebuyer or homeowner to purchase a home or refinance a mortgage plus include in the loan the costs of repairs and improvements in the loan. The 203K Streamlined loan is not a government loan, it is provided though FHA Approved Lenders throughout the country. Because the 203K Streamline Loan is insured by FHA, the FHA...