Ramzi Faraj

Location: Michigan
Phone: 248-387-9297
Email: ramzi.faraj@gmail.com
Website: http://YourMortgageCoachForLife.com

All lenders seem to be selling the same products with the same guidelines, and the industry is going through a great deal of confusion in light of new regulations and turbulent market conditions. As a Certified Mortgage Coach graduate I am equipped to help my clients cut through the confusion and make informed financial decisions. The mortgage is most people’s single largest debt, and their home is often their single largest asset. As a Certified Mortgage Coach, I am committed to working for the best interest of my clients. NMLS ID 162269

Posts By Ramzi Faraj

Location

Michigan

Phone: 248-387-9297

Posts

What’s the Difference Between Conventional and FHA Mortgages?

On January 7, 2011, in Mortgage Programs, Mortgage Rates, by Ramzi Faraj

I am often asked the question: what’s the difference between conventional and FHA mortgages? One of the major differences is who is backing the loans. Conventional loans are backed by Freddie Mac and Fannie Mae. FHA loans are backed by the Department of Housing and Urban Development (HUD). So you are probably wondering what difference that makes. The main difference that affects you is the different guidelines for down payment, mortgage insurance, and credit requirements. Here are a few of the main differences:

Will The New FHA Mortgage Insurance Premium Changes Raise My Michigan Loan Payment?

On December 4, 2010, in Mortgage Programs, by Ramzi Faraj

Many people have asked if the new FHA mortgage insurance premium changes will raise their Michigan loan payments. Unfortunately the new FHA mortgage insurance changes have left many consumers confused. So what are the changes that took effect on October 4th 2010 and how do they affect home buyers and home owners in Michigan?