Conventional Costs Are Going Up, But FHA Loan Costs Are Coming Down

Hello,

Are you buying a home soon or a Listing Agent that might be wary of accepting an FHA loan? Then you'll need to look over the content below because FHA is poised to take market share. 

As a buyer, you need to rerun your numbers if you're looking for a home and considering using a Conventional loan because of all of the adjustments to costs & fees that FHA & FHFA (Federal Housing Finance Agency) have added and subtracted to potential homebuyers. 

I've run some comparisons in the videos below to help you compare Conventional To FHA Loans with similar qualifications. 
If you have yet to see the info about the FHA reducing their Annual MIP, below is the information to review. 

......................................

Listing Agents ⚡️

If you are a Listing Agent, I've laid out ways to navigate FHA offers that could be less troublesome for you and your seller, especially regarding appraisal reports. 

......................................

Buyers Agent ⚡️

If you're a Buyer's Agent, I have some great information you can share to help your buyers create more affordable housing and regain some lost buying power using an FHA loan. 

.....................................

If you missed it, here is the HUD announcement about reducing their Annual MIP for their borrowers. ⬇️

➡️ FHA MIP Announcement -  https://www.nicholsonloans.com/presentation/68597/

Reviews

"Scott and his team did a great job of laying out potential funding scenarios that fit our budget. In the end, we now save $300 per month on our mortgage."

michael s

"Scott is the consummate mortgage professional. His creativity to close and duty as a fiduciary are second to none. I'm so grateful to have him in my corner now and in the future, especially with how competitive talk estate is in California! Thank you, Scott, and team!"

david z

"Scott and his team at SWMC were awesome! We closed in two months on my mortgage and they were equipped to navigate a complex project in a challenging market. 5 out of 5 stars. -A"

alexi b