All Posts Tagged: FHA

In the Market: A policy that’s bringing millennials back?

Nneka Madus
Posted by Nneka Madus
Mortgage Market Analyst

This feature is a real estate news and information roundup from a millennial’s point of view. When a young professional moves from Indianapolis (median home price $125K) to San Francisco (median price $1 million), you can expect an adventure. Nneka Madus, an analyst in Bank of the West’s Mortgage Division, did just that and has plenty to share in her quest to own a home in San Francisco.

Young woman and man standing near a kitchen sink with granite countertops, looking at samples of finishes.One way to lure millennials back into the housing market might be to cut down on the amount we need to pay for a mortgage. Maybe then we’ll start trickling in. Daniel Goldstein gives you the scoop in this MarketWatch article on a change that may be doing just that. Earlier this year, the Federal Housing Administration (FHA) reduced mortgage insurance premiums on its loans. That means long-term savings for homebuyers with FHA loans, since mortgage insurance premiums are required for the life of an FHA loan. Data in the MarketWatch report suggests that this reduction in mortgage insurance premiums is helping spur homebuying activity among millennials and other first time homebuyers.

Walking into negotiations can be scary — whether you’re asking for a raise, haggling over the sales price of a car, or purchasing a home. But being prepared is one way to help you get a better deal. In this Huffington Post blog, Scott Yancey has listed some great tips for homebuyers, particularly first-timers, to help get the best deal for their home. Scott’s advice can be boiled down to two things: Shop around and run the numbers. Don’t count on your real estate agent to do your homework for you.

Cracks in the walls, uneven floors, and mold: These are things homebuyers are commonly told to watch out for while at an open house. What about the rest of the house? You may be purchasing a home, but you’re also inheriting the surrounding neighborhood. Morgan Quinn from Gobankingrates.com gives homebuyers a sneak peek on oft-missed things to look for during an open house.

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Numbers Count: First-time buyers’ revival?

Chad Royle
Posted by Chad Royle
Mortgage Banking
Young, happy African-American family in front of a house that is for sale.

Here’s my take on the key numbers on the housing market this week.

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2015 starts with an opportunity for buyers and owners

Victor Polich
Mortgage Banking
Young couple smiling at each other and packing away newspaper-wrapped dinner plates.

Whether you’re a prospective buyer or a homeowner, this may be a good time to talk to a lender about current mortgage rates and options that may be right for you.

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New FHA plan may entice more first-time buyers

Stew Larsen
Posted by Stew Larsen
Mortgage Banking
Young couple looking at an empty room of an open house, with hopeful expressions.

This is one more positive move to make homeownership more accessible as the U.S. economy strengthens.

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In the Market: Welcome news on the mortgage front

Nneka Madus
Posted by Nneka Madus
Mortgage Market Analyst
Young couple preparing a meal together on the island of a sleek, well-stocked kitchen.

For millennials and first-time home buyers, FHA loans are go-to loans in part because of their low down-payment requirement.

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