Hal's Mortgage Blog

What's going to happen to the Mortgage Industry? With Fannie and Freddie in the news daily, many are concerned about how it might affect them.

It appears that the Fed will not let either GSE fail, however there will be stricter guidelines regarding what loans are acceptable. Since last year, both agencies have eliminated 100% (zero down) loans. The remaining products are more difficult to qualify for, have higher interest rates and higher Private Mortgage Insurance rates. PMI insures the lender against default

Help! The sky is falling! Not really since another Federal Agency has stepped in to take up the slack. FHA is back, stronger than ever. I don't have space here, but call or email me and I'll share the advantages to you, the borrower, of FHA loans.