Loan Programs For First Time Home Buyers

Buying your first home is a huge step – financially and emotionally. The ups and downs in the real estate market and the country’s economy haven’t helped first time home buyers. There has been a lot of uncertainty in the world of real estate since the crash of 2008 but over the past year or so, things have really been picking up and home list prices are on the rise again.

Rising house prices and a number of government initiatives designed to stabilize the country’s housing market and help get first time homebuyers onto the property ladder makes now a good time to buy your first home. As a first time home buyer what are your options when it comes to loan programs? Read on to hear my take on what’s available.
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FHA Reduces Annual MIP Rates

Good News for Home Buyers

FHA Reduces Annual MIP Rates by .50 Basis Points

A good start for 2015.  Just recently HUD announced a reduction to their Annual MIP rate for loans with amortization terms longer than 15 years. What this means is not only the lowering of the annual premium by 50 basis points, but also the financed total loan amount.  These changes will take effect for new FHA case numbers assigned on or after January 26th, 2015.

What does this really mean for Home Buyers?

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