Category: FHA

How to Refinance Without a New 30-year Commitment.

Now, you could get a refinance loan for any term between 15 and 30 years! Get a better rate without "starting over". Benchmark presents: Odd Term Mortgages.

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HUD Announces New FHA Loan Limits

Yesterday, December 7, 2017, the Federal Housing Administration announced that for 2018, 3,011 out of 3,141 counties in the U.S. (~96% of all counties in the nation) will see an increase in FHA loan limits. Ceilings and Floors In high-cost areas, the FHA’s loan limit ceiling will increase this year to $679,650, up from $636,150, …

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Benchmark Memo: When Disaster Strikes, You Have Options

In the aftermath of the historic flooding in  South Texas, and in anticipation of Hurricane Irma in the Caribbean, you should be aware of your financial options in the wake of devastation. The FHA 203(h) is a ZERO down program, and is available to homeowners and renters alike.   At Benchmark, we know how important …

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HUD Lowers Mortgage Insurance Premiums for Most FHA Loans

The Department of Housing and Urban Development announced on Monday that they plan to reduce the Mortgage Insurance Premium for FHA mortgage loans. Since 2012, the Federal Housing Administration’s(FHA) Mutual Mortgage Insurance(MMI) Fund has gained $44 billion, and is now 32 basis points above the 2 percent threshold level required by Congress. This is ~$13 billion more …

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Conforming Loan Limits Set To Increase For 2017

The Federal Housing Finance Agency has announced that it is increasing the maximum conforming loan limits for mortgage loans beginning in 2017.  A mortgage loan is considered “conforming” when it is eligible to be acquired by Fannie Mae and/or Freddie Mac. (Mortgages are often sold to Fannie or Freddie so that a lender has the liquidity/money available …

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