FHA mortgages are poised to get more expensive

The Federal Housing Administration (FHA) plans to impose significant restrictions on the amount of money that sellers can contribute at closing in the near future. The FHA also will be raising its mortgage insurance premiums during the coming weeks, increasing charges for new purchases across the board. Making sense of the story: One reason for …

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6 truths about no-cost mortgages

Have you heard about no-cost mortgages?  Here are the pros and cons about shopping for one in this housing market: While buyers avoid overcharges, they also pay a higher interest rate “Is shopping for a no-cost mortgage a good strategy in today’s market?” No-cost mortgages are relatively easy to shop because of their simplicity, and …

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