MORTGAGE RATES » Home Mortgage Loan News

One thing that may help first time buyers overcome the obstacle of securing a loan is through a FHA Fixed Rate Loan, courtesy of the Homes and Communities - U.S. Department of Housing and Urban Development (HUD).

Before applying for any type of mortgage, whether you are looking to find a loan with an FHA Fixed Rate Loan or some other type of agreement, it is best to take the time and research your options thoroughly. To figure out how much home you can afford consider how much money you currently have for a down payment, your current income, and your credit history. Once you have an approximate figure that works for you, research and compare the different lenders to see what kind of loan options may be available to you. Your next step then would be to get a pre-approved loan, by doing so could increase your pricing negotiations.

Since 1934 the FHA has been helping Americans secure the financial means for purchasing homes, including a FHA Fixed Rate Loans. The benefit of securing a FHA Fixed Rate Loan is that there are low down payments, low closing costs, and only adequate credit is needed to qualify. Those who are approved for the loans may be able to put down as little as 3% on the property, get closing costs, and fees can also be included in the loan - making it easier to pay it off over time.

An FHA Fixed Rate Loan locks the interest rate in for the entire life of the loan and makes it great for planning your budget overall.

A sense of security is a very important thing. Whether that sense is created from a home alarm system, a hug from your spouse or your favorite childhood stuffed animal, we all deserve that much needed sense of comfort. The Federal Housing Authority (FHA) Secure program provides homeowners with a sense of security from the fear of losing your home.

What is the FHA Secure program?

The FHA Secure financing plan helps homeowners with non-FHA mortgages refinance into an FHA-insured mortgage. Even if you are delinquent on your loan, consumers are not automatically disqualified from getting a FHA Secure loan.

How FHA Secure is helping the economy

FHA Secure mortgages are also help keep the current market liquid and stable.

Since on July 14, 2008, FHA Secure has begun to increase their efforts to help stabilize the current market situation caused by the subprime mortgage crisis. Families who have missed up to three monthly mortgage payments over the past year or are experiencing financial hardship can get a helping hand from FHA Secure.

How to get a FHA Secure mortgage

Qualify for a FHA Secure mortgage is easy as pie.

You just need to be current on your mortgage and have sufficient income to make the mortgage payment. Consumers can actually save money by refinancing with a FHA Secure loan. Monthly payments can be lowered so there will be more cash in your pocket.

If talks with your current lender have gotten you nowhere and you are fearful of losing your home, dont panic.

Research and find all you can about different types of mortgage options, rate information and build your knowledge of the current industry. Once you feel fully educated and knowledgeable about your options, you may realize that FHA Secure may be able to provide you with the refinancing you need to keep your home and provide you with that additional sense of security.

Mortgage rates go up and down, and consumers have the right to take advantage of the more favorable conditions. If your credit report was a bit lackluster when you purchased, and your current 30-year fixed has a higher interest rate than the current market conditions, an FHA rRefinance mortgage...

After the stock market crash of October 29, 1929 and the Great Depression that followed, many homeowners lost their homes to foreclosure, due to lack of income and the hardships that were being endured. The period of economic uncertainty gave rise to the United States Department of Housing and...

Within all sectors of the government and their housing agencies, you may occasionally scratch your head and ponder a couple of questions. "How much house can I really afford?," "What federal funding do I qualify for?," and "What is an FHA Loan? may be questions are you're all considering.

But if...

Imagine wanting to buy a home but being very nervous of financial conditions and fearful of carrying a mortgage. It has been your American Dream for the longest time, but you are concerned about negatively affecting your credit limit if you were to default on your mortgage payments. Private...

One of the strongest driving forces in the American Declaration of Independence is the right for "Life, Liberty and the Pursuit of Happiness." Over time, the country has made great progress in helping enable this path for many of its citizens. At various times federal laws have been established...

"Mortgage meltdown" not affecting the availability of mortgages today.

You hear the term "mortgage meltdown" almost every day and assume it will be tough to get a mortgage. In reality, mortgage loans are abundant with most mortgage products relatively unaffected by the recent troubles in the...

Qualifying for a jumbo conforming loan will get more difficult in the New Year.

Congress authorized, as part of the Economic Stimulus Act of 2008, a temporary increase to the conforming loan limits in high cost regions defined by median home sale price. High priced areas such as Los...

Interest free tax credit is available to first time home buyers. What a great opportunity to help take advantage of falling home prices.

The Housing and Economic Recovery Act of 2008 contained a provision for a tax credit of up to $7,500 for first time home buyers . What makes this more...