Start Consolidating second mortgages

Consolidating second mortgages

Carla Blair-Gamblian, a home loan consultant for Veterans United Home Loans in Columbia, Missouri, says that FHA loans will always have a place in the market whether their costs rise or fall.

The truth is, High street lenders just don’t offer these types of mortgage and stick to competing for more straightforward mainstream business, so sadly many borrowers preferring to go limited are lead down the personal borrowing route and miss out on the benefits as a result.

"The only negative of an FHA loan is its cost," says Pascarella.

But if a solid credit score and down payment are a stretch for you, an FHA loan might be your only option.

In 2017, FHA loans will likely become even more affordable than they have been in recent years, especially if the recently-suspended reduction in annual FHA mortgage insurance premium that the Federal Housing Administration charges is reinstated after a review by HUD's incoming Secretary, as yet unconfirmed by Congress.