Delaware FHA Loans can be used for purchasing or refinancing a home in Delaware. FHA loans will lend up to 96.5% LTV for a purchase and 97.75% for a rate & term refinance.
FHA Back to Work Program Delaware FHA Loan Update Effect August 15, 2013 FHA Back to Work Loan Program – HUD released a new Mortgagee Letter 2013-26 and made it effective August 15, 2013, which was title FHA Back to Work – Extenuating Circumstances. The new guidelines allow borrowers who have experienced an Economic Event…
In Mortgage Letter dated 01/31/2013, HUD announced that the Federal Housing Administration (FHA) will increase its annual mortgage insurance premium for most new mortgages by 10 basis points or by 0.10%, and FHA will increase premiums on jumbo mortgages ($625,000 or larger) by 5 basis points or 0.05%. It will also change the MIP from…
Update to Property Flipping Waiver – FHA Extends the Waiver till December 31, 2014 In 2006, HUD published a final rule in the Federal Register amending regulations at 24 CFR 203.37a, prohibiting property flipping in the HUD/FHA single-family mortgage insurance programs by providing additional exceptions to the time restrictions on sales. The rule and Mortgagee…
In order to address current housing market conditions, HUD has published Mortgagee Letter 2012-18, which highlights important changes to the current condominium guides. Here are the 7 things you need to know about these changes 1. These changes are in effect from September 13, 2012, until August 31, 2014, unless extended. 2. Under construction is…
Delaware FHA Streamline Refinance Guidelines 2012 If you currently have an FHA Loan then you are eligible to refinance your existing Delaware FHA loan using the streamline refinance guidelines. The guidelines are different depending on when your current FHA loan was delivered by your lender to FHA after it was originated. If your loan was…
FHA Rescinds Select Credit Guides Effective June 15, 2012, with mortgage letter 2012-10 Mortgagee Letter 2012-10 rescinds guidelines regarding disputed accounts and collection accounts that were announced February 28, 2012, via Mortgagee Letter 2012-03. Here are the 2 things YOU NEED TO KNOW about these changes: 1. Effective now, the FHA guides revert back to…
FHA Streamline Refinance Fees are being lowered to help more people be able to take advantage of the FHA streamline refinance program, this was announced by President Obama on March 6, 2012, but won’t be effective until an FHA Mortgage Letter is released. The fees being lowered are the FHA Mortgage Insurance Premiums. The FHA…
Delaware FHA Loan Limits are changed back to higher limits with Mortgagee Letter 2011-39 announces changes to its mortgage limits with the passing of H.R. 2112 (The Consolidated and Further Continuing Appropriations Act of 2012), which reestablishes the previous higher FHA loan limits. Effective immediately with all new FHA case numbers until December 31, 2012,…
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