#fha-loans

#fha-loans

Mortgage delinquency rates are rising, particularly in FHA portfolios, due to macroeconomic pressures, natural disasters, and heightened costs affecting vulnerable borrowers.

Mortgage applications for newly built homes decreased 6% year over year but rose 19% from December 2024.

Marissa Jannetti highlights the challenges and eventual benefits of first-time homeownership for millennials during a shifting housing market.

Millennials struggle with homeownership due to student debt and stagnant wages, leading many to rent indefinitely.

Mortgage delinquencies showed a slight recovery, dropping to 3.92% in Q3 2024 after high home prices and mortgage rates challenged many homeowners.

Rolling closing costs into a mortgage reduces cash needed upfront, but leads to higher monthly payments and total interest costs.

Source of income discrimination impacts homebuyers with FHA or VA loans, limiting their ability to get offers accepted.

The Perrie offers more affordable condo options in Midtown Manhattan with prices starting at $875,000, making ownership more accessible.

FHA loans can be assumed by qualified buyers, potentially offering cost savings.

Both buyers and sellers need to meet certain requirements for the assumption process.

FHA and VA delinquency rates are increasing while conventional loans remain strong, indicating a shift in mortgage performance.

Understanding the difference between FHA loans and conventional loans crucial when considering buying a home.