Adjustment for rising home prices increases FHA ceiling in high-cost markets like New York, San Francisco and Washington, D.C., and raises the floor in low-cost markets to $524,225.
Category: fha
Assumable mortgage platform Roam expands coverage area
With $3 million in new funding, Roam wants to help buyers “wind back the clock” on mortgage rates in markets nationwide by the end of the year.
Mortgage giants offering very low income homebuyers a spring break
Fannie Mae and Freddie Mac are offering a $2,500 credit that borrowers can put toward their down payment, closing costs, escrow or mortgage insurance premiums.
David Stevens, influential leader in mortgage finance, dies at 66
The former FHA commissioner also held executive positions at World Savings Bank, Freddie Mac, and The Long and Foster Companies before leading the Mortgage Bankers Association.
Mortgage groups urge FHA to ditch ‘life of loan’ premium payments
Having just slashed annual mortgage insurance premiums on new FHA loans by 35 percent in March, and with total insurance in force growing faster than reserves, HUD officials show no signs of giving in to long-standing industry demands.
FHA will consider rent from ADUs when qualifying borrowers
Policy change is intended to help more first-time homebuyers, seniors, and inter-generational families tap the wealth building potential of homeownership.
Audits find fault with help provided to FHA borrowers during pandemic
Loan servicer Mr. Cooper is ‘deeply disappointed’ that the HUD OIG audit focused on problems it says were mostly technical, rather than on borrower outcomes.