The Federal Department of Housing and Urban Development suspended a recent FHA mortgage insurance rate cut just an hour after Trump took office on Friday. Mortgage insurance is required for all FHA-backed loans, which are popular with first-time home buyers and borrowers with minimal funds for the down-payment. The Federal Housing Administration, which became a part of HUD […]
FHA Will Now Insure Mortgages on Properties with PACE Assessments
After years of fighting the PACE program, the Federal Housing Administration announced this summer that it will now insurance mortgages for properties with PACE assessments on their property tax bill. PACE is the acronym for “property assessed clean energy”, and is a popular method of financing energy-efficient and renewable energy renovations on existing properties. As […]