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FHA borrowers would get mortgage insurance relief through proposed House bill

Housing Wire

House of Representatives proposes to relieve Federal Housing Administration (FHA) borrowers of mortgage insurance premiums (MIPs) once they reach a certain level of home equity , aligning FHA policies with those of conventional loans. Mortgage insurance exists as protection from foreclosure on low equity loans.

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FHA loan limit increases to $498,257 in 2024

Housing Wire

The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2024 to $498,257 and $1,149,825, respectively, the FHA announced Tuesday. The new FHA loan limits apply to forward mortgages for a one-unit property and take effect on Jan.

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Struggling homeowners often don’t understand escrow

Housing Wire

Mortgage escrow accounts are an important, yet widely misunderstood asset in the housing market. Escrow accounts are required for conventional borrowers with 20% or less equity in their homes. Federal Housing Administration (FHA) loan borrowers must maintain escrow accounts for the entire loan cycle, regardless of equity.

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FHA loan limit increases to $524,225 in 2025

Housing Wire

The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2025 to $524,225 and $1,209,750, respectively, the agency announced Tuesday. The new FHA loan limits apply to forward mortgages for a one-unit property and take effect on Jan.

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High mortgage rates sideline homeowners from tapping home equity: ICE

Housing Wire

Rising home prices have pushed the third quarter’s tappable home equity amount near its 2022 peak, but interest rates are making homeowners reluctant to extract that wealth. Rising equity levels are also contributing to low default and foreclosure activity. In 2024, roughly 75% of originations expected to come from purchase loans.

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Loan officers are seeing an uptick in FHA, VA demand

Housing Wire

According to the MBA, rates for Federal Housing Administration (FHA) loans dipped to 6.42%, while refinance activity posted its fastest pace since October 2024. “But you still have a buyer’s market. Not everybody is caught up on the fact that it’s a good time to buy now.

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2025 mortgage predictions: Your playbook for a winning year

Housing Wire

After a year filled with rate swings, unpredictable markets and a bit of drama (thank you, inflation), the real estate world is ready for a fresh start. Whether youre looking to buy your first home, upgrade or simply gain clarity on the current market , this guide is your insiders playbook to tackle 2025 with confidence.

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