Senate Limits Lending Fees to 3%
Posted in Market Update, Mortgage on May 14th, 2010 by Lindsay – Be the first to commentThe Senate Approved an Amendment to limit lending fees to 3% – Will it shut down Mortgage Brokers?
Mortgage
American Dream Mortgage (ADDI)
Posted in Buying, First Time Home Buyer, Grant Money, Home Buyer Programs, Mortgage on May 3rd, 2010 by Lindsay – Be the first to comment
The $8,000 tax credit may be over, but there are still programs out there that can help first time homebuyers realize their dream of home ownership.
FHA Increases Upfront MIP
Posted in Buying, FHA, First Time Home Buyer, Mortgage on February 10th, 2010 by Lindsay – Be the first to commentBeginning April 4, 2010, FHA will raise its upfront Mortgage Insurance from 1.75% to 2.25%. Other discussions taking place – decrease seller concessions from 6% to 3%. If you need an FHA loan, start looking in earnest for a home before the increase takes place. FHA is looking for ways to increase their income, and have a congressional mandate to have a certain percentage of funds in reserves. We will likely see them make more changes that will toughen the requirements and make their loans more expensive this year. Stay tuned!
Interest Rates Predicted to Reach 6%
Posted in Buying, FHA, First Time Home Buyer, Mortgage on February 10th, 2010 by Lindsay – Be the first to commentInterest rates are likely to rise to 6% by the end of 2010,predicted Amy Crews Cutts, deputy chief economist at Freddie Mac.
Low Interest Rates, But How Long?
Posted in Buying, First Time Home Buyer, Mortgage on January 29th, 2010 by Lindsay – Be the first to commentMortgage interest rates are low right now, but don’t expect that to last. When the government quits buying mortgage-backed securities, rates will head up and away.
FHA Announces Policy Changes
Posted in Buying, FHA, First Time Home Buyer, Mortgage on January 22nd, 2010 by Lindsay – Be the first to commentThe Federal Housing Administration has announced a set of policy changes on Wednesday that will effect purchasers.
Investors Exempt From 90-Day Rule
Posted in Buying, FHA, First Time Home Buyer, Investor, Mortgage, Selling on January 20th, 2010 by Lindsay – Be the first to commentAn update from FHA was released on Friday January 15th, 2010, regarding the 90 day regulation on the resale of a purchase property. Effective February 1st 2010, FHA/ HUD will not require that a seller of a property be on title for 90 days or more in order to sell the property to a borrower acquiring FHA financing. This is an incredible opportunity for many buyers in today’s market who require a loan with a 3.5% down payment - especailly first time home buyers. The change will take effect for a period of one year.
Mortgage Apps Rise After New Years
Posted in Mortgage on January 19th, 2010 by Lindsay – Be the first to comment
Mortgage application volume increased 14.3% last week compared to the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association.
The Financial Aspects of Home Buying
Posted in Buying, First Time Home Buyer, Mortgage on January 11th, 2010 by Lindsay – Be the first to comment
Home Purchase Loan Types
Posted in Buying, FHA, First Time Home Buyer, Mortgage on January 11th, 2010 by Lindsay – Be the first to comment
There are a wide variety of home loan products out there, including one that’s right for you. Here’s an informative look at general mortgage categories, including the advantages of each program and things to consider when choosing a loan. Featured programs include fixed rate and adjustable rate mortgages, interest-only loans, jumbo loans, and FHA and VA mortgages.
