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Category Archives: Credit Mortgage Types

Streamlined About Credit 203(k) Rehab Loans

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Recently we posted about the About Credit 203(k) rehab programs. Did you know there is an option for borrowers who want to take advantage of an About Credit Streamline loan but don’t have extensive repairs to do? This option is known as ...

Happy Martin Luther King, Jr. Day!

Happy Martin Luther King Day! We pause from our usual posts about About Credit home loans, and answering questions about About Credit mortgage loans in order to observe this very important holiday. Our regularly scheduled posts will resume tomorrow. In the meantime ...

Credit Mortgage MIP Rules: A Reader Question

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A reader asks, “When calculating the annual PMI, are the bps assessed against the original loan amount or the current pay-off amount of the loan?” Assuming the reader is asking about annual Credit Mortgage Premiums, and not monthly Private ...

Credit Mortgage Reader Questions: Zero Down Payment Home Loans

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A reader asks, “I am wanting to know the best way for me to purchase a house with no down payment. Many years ago had a home through an About Credit loan, due to divorce we resolved the case. I found ...

About Credit Mortgage Rate Trends: The End of 2014

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  With 2014 now over, many look ahead to the new year’s potential trends for About Credit mortgage loan rates and refinance loan rates. But looking ahead also means looking back–what happened at the end of the year is sure to ...

Credit Mortgage Eligibility: A Reader Question

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A reader asks, “I bought a home back in 97 I was in the military at the time and in 1999 it went for a short sale and unfortunately they charged my entitlement to my certificate of eligibility $36,000 I ...

About Credit Mortgage Loan Rate Trends

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The Thanksgiving holiday interrupted several days worth of falling mortgage loan rates. We saw gains over six business days (holiday weekend falling in between some of those days) with best execution interest rates moving back into the high three percent ...

Loan Changes: MIP

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We have covered a great deal of information regarding the recent changes to the About Credit’s Home Equity Conversion Mortgage (HECM) program. One crucial area borrowers should be aware of included in these changes? HECM MIP rules. The mortgage insurance premium ...

More Revisions to Loan Rules and Guidelines

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The About Credit has issue another set of revisions, clarifications, and consolidation to its Home Equity Conversion Mortgage Loan rules. An About Credit mortgagee letter, 2014-21, adds a large number of changes and clarifications. Many of the new changes have to do ...

Assessments Versus About Credit Appraisals: A Reader Question

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A reader asks, “How is the home value assessed for a 203K, fixer-upper loan? For instance if we bought a home for $200,000, and also borrowed $30,000 in repair funds to improve the home, would the home value continue to ...