New Rate Hub Contributor

2020 To Be A Breakout Year For FHA Buyers

By New Rate Hub Contributor / May 15, 2020 / 0 Comments

FHA Approvals In Reach For More Buyers FHA loans have long been one of the most popular mortgage types available. Roughly twenty percent of all mortgage applicants will opt for an FHA loan because of its buyer-friendly guidelines according to mortgage software company Ellie Mae. FHA was designed to help home shoppers with lower credit scores and a small…

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Should You Pick A 5/1 ARM Or 15-Year Fixed Loan In 2020?

By New Rate Hub Contributor / March 5, 2020 / 0 Comments

When mortgage rates are rising, it may seem crazy to consider a 5/1 ARM (adjustable-rate mortgage) or a 15-year fixed-rate loan. After all, shouldn’t you lock in the lowest possible rate for the longest possible term? For some borrowers, though, an ARM or a shorter-term loan could be the best way to get a lower mortgage…

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FHA loan requirements – What do you actually know about FHA mortgages?

By New Rate Hub Contributor / February 9, 2020 / 0 Comments

FHA loan requirements To qualify for an FHA loan, a mortgage borrower must meet the minimum standards of the Federal Housing Administration’s mortgage program, which includes showing a minimum credit score of 500; having verifiable income and employment; and, proving the legal resident status of the United States. The program is available to first-time home…

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