By Sean Stephens

How do you qualify for a 3% down payment conventional loans?

Did you know that Fannie Mae® and Freddie Mac both have 3% down payment programs! Here is a short video which explains the differences and along with the highlights. Remember, conventional loan 3% down payment programs can be a great alternative to FHA financing, because as of 6/3/13 FHA monthly mortgage insurance is now for […]

By Sean Stephens

What is an FHA Case Number?

What is an FHA Case Number and Why is it Important?  Many have heard this terminology, but many are unsure of why FHA case numbers are issued and how important they are to closing on an FHA loan. FHA Case Number Basics An FHA Case Number is a unique 10-digit number assigned to a loan […]

By Sean Stephens

When Can You Cancel FHA Mortgage Insurance Premiums?

Are You Eligible to Cancel FHA MIP?  Following changes to FHA mortgage insurance premium guidelines in 2013, it is vital for homebuyers and Realtors to understand these important changes and whether current FHA mortgage holders or buyers interested in the loan program will be eligible to cancel FHA mortgage insurance premiums moving forward.   Cancelling […]

By Sean Stephens

How Do You Calculate FHA Mortgage Insurance Premiums?

How to Calculate FHA Mortgage Insurance Premiums As a reminder, here is a brief mortgage insurance background as per the website: “The Federal Housing Administration, generally known as “FHA”, provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories. FHA insures mortgages on single family and multifamily homes […]

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