| FHA government-backed loans are now the buyer's choice |
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FHA government-backed
loans are now the buyer's choice
Buyers seeking to refinance out of adjustable
rate mortgages are now looking to the Federal Housing Administration.
According to the Mortgage Bankers Association, FHA loans typically have a lower
down-payment than Freddie Mac and Fannie Mae. The incentive for these loans has
only increased as Congress and the Bush Administration expand guarantee
programs, and help people to refinance into more affordable loans. Applications
for these loans have risen 317 percent since July of last year.
Related PostsHARP Extended for Another Year
10 Home Finance Mistakes You Can't Afford
FHA hiking premiums this spring
Five Reasons Why Refinancing May Be a Good Option Now
The Beginning of the End for the Housing Crisis?
Posted on September 18, 2008 17:03:10 by  Mark Eibner
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