Tax Credit Ineligible for Down Payment
Friday, May 22nd, 2009 Posted in Local News, Real Estate | No Comments »Recently, federal officials reversed a decision to allow first-time home buyers to use the $8,000 tax credit to borrow and use as a down payment on their first home. US Department of Housing and Urban Development Secretary Shaun Donovan had told ...
One-Time Tax Credit in 2009 for First-Time Home Buyers
Tuesday, April 21st, 2009 Posted in Local News, Real Estate | No Comments »There are many reasons why a renter should seriously consider becoming a first-time home buyer in 2009. Home prices are the lowest they have been in many, many years. Interest rates are at an all-time low; around 5%. Home mortgage interest rates ...
What is an FHA Loan?
Saturday, March 28th, 2009 Posted in Real Estate | No Comments »An FHA loan is offered by conventional lenders, but the government insures the loan which means less risk to the lender. For some folks, an FHA loan may be the only game in town in today's market. For the borrower, an ...
Fannie Mae & Freddie Mac Tightening Lending Criteria
Wednesday, February 25th, 2009 Posted in Real Estate | No Comments »To all of you prospective homeowners who have been sitting on the fence, now is the time to purchase a home and quickly! Home prices are the lowest they have been since 2003, interest rates are phenomenal, and Fannie Mae ...
How Important is Credit?
Friday, February 13th, 2009 Posted in Real Estate | No Comments »In this age of financial turmoil, bank failures/bailouts and foreclosures, having good to great credit has become even more important. Mediocre credit scores may not prevent you from purchasing a home, but your other qualifying factors better be great. And ...
Allowable FHA & VA Fees to Borrowers
Friday, December 5th, 2008 Posted in Real Estate | No Comments »Hopefully, if you are applying for a FHA or VA home loan, you are working with a knowledgeable loan agent who knows this, but I thought I'd offer the information to you anyway. Allowable FHA & VA fees to borrowers: FHA VA Origination ...
203K FHA Rehab Loan
Saturday, August 16th, 2008 Posted in Local News, Real Estate | No Comments »This is my understanding of a 203K FHA Rehab Loan, but please confirm with a qualified loan officer. On the 203K Rehab Loan, FHA will loan up to 115% of appraised value. The percentages are 3% down, 97% financed, and ...
Fha Loans Could Be the Answer for First-Time Home Buyers
Friday, August 15th, 2008 Posted in Local Businesses, Local News, Real Estate | No Comments »Heads up first-time home buyers! Recently, the loan limit for FHA was increased to $680,000. Here are some of the reasons it would be to your benefit as a first-time home buyer to meet with a qualified mortgage specialist with ...