Home » Tag Archives: home buyers

Tag Archives: home buyers

FHA hiking insurance fees on mortgages

WASHINGTON — Sizing up the true cost of buying a home can be complicated. On top of the home’s list price there are numerous fees and financing costs to factor in. To complicate matters, the Federal Housing Administration is now hiking the insurance fees for the mortgages it backs. FHA loans are generally used by first-time home buyers and require ...

Read More »

New RESPA rules make closings difficult

Significant changes to federal rules under the Real Estate Settlement Procedures Act (RESPA) took effect Jan. 1. Although the Good Faith Estimate (GFE) and HUD-1 forms were redesigned to make it easier for home buyers to understand settlement costs, the changes have made closings more difficult for lenders. According to the National Association of Realtors, the new rules require mortgage ...

Read More »