If you have bad credit, you may not qualify for a conventional loan or a low down payment loan offered by FHA and VA. In this case, you may consider a subprime mortgage. Because of the higher risk associated with lending to borrowers that have a poor credit history, subprime loans typically require a larger [...]

Conventional loans are secured by government sponsored entities or GSEs such as Fannie Mae and Freddie Mac. Conventional loans can be made to purchase or refinance homes with first and second mortgages on single family to four family homes.
 
In general, Fannie Mae and Freddie Mac’s single family, first mortgage loan limit is $417,000 in [...]

There isn’t a single or simple answer to this question. The right type of mortgage for you depends on many different factors:

Your current financial picture
How you expect your finances to change
How long you intend to keep your house
How comfortable you are with your mortgage payment changing

For example, a 15-year fixed rate mortgage can save [...]

There may be closing costs customary or unique to a certain locality, but closing costs are usually made up of the following:

Attorney’s or escrow fees (yours and your lender’s if applicable)
Property taxes (to cover tax period to date)
Interest (paid from date of closing to 30 days before first monthly payment)
Loan origination fee (covers lender’s administrative [...]

YES…
If you have ever paid off a home loan backed by FHA, you may have money owed to you. And the government wants to pay you back.
About 1 in 10 FHA borrowers leave money in their escrow accounts when they pay off their loans. The average refund for each borrower is about $700.
Former [...]

FHA requires a mortgage insurance premium (MIP) for its homebuying programs. An up front premium of 1.50% of the loan amount is paid at closing and can be financed into the mortgage amount. In addition, there is a monthly MIP amount included in the PITI of .50%. Condos do not require up front MIP - [...]