FHA Reverse Mortgages are becoming more and more popular in New Jersey. The Home Equity Conversion Mortgage (HECM) is FHA’s reverse mortgage program which enables you to withdraw some of the equity in your home. The HECM is a safe plan that can give older Americans greater financial security. Many seniors use it to supplement [...]
First -time home buyers in Rhode Island looking for 100% financing, it is still available. A first-time home buyer is defined as someone who has not owned real estate within the past three years. Combine this with the $8,000 tax credit, there is no better time to purchase in Rhode Island then now. *To take [...]
New American Mortgage is now offering FHA jumbo purchase and refinance for Virginia. Contact us for pricing. Purchase and Rate/Term Refinance 660 Minimum FICO for all borrowers Max DTI ( debt to income) : 31/43 2 Appraisals required for purchase transactions, regardless of LTV Gift Funds are not permitted, however, gifts of equity from family [...]
Indiana First Time Home Tax Credit Revisited… Lately, I have been getting some calls and emails about the Indiana First Time Home Buyer Tax Credit from some very confused Indiana home buyers and agents alike. I want take just a moment and straighten out a few of the misconceptions that are there. Lets set the [...]
This is a mortgage purchase program for 1st time home buyers(fed definition) Fixed rate, 30 yr loans Used with FHA, VA or USDA financing. Borrower’s can get Down Payment & Settlement Expense Loan Program. Money the state has appropriated to lend to 1sttime home buyers at 0% deferred, for them to use toward their settlement expenses. A Loan [...]
There is still a 100% financing loan program for Orange County, CA first time buyers (and move up buyers). It is the VA loan program. While FHA is a very attractive program, VA does have its advantages for Orange County home buyers. And like FHA, the Orange County VA loan limits were increased. The $0 down [...]
Reverse mortgages can serve as an effective way to protect a homeowner from foreclosure. Now you can stop a foreclosure with a Reverse Mortgage, which is not hard money or balloon loan that someone is normally pressured to get when facing a foreclosure. But a reverse mortgage can serve as a lifeline that saves one [...]
The $8000 tax credit: Can a West Bloomfield MI home buyer use it as a down payment? Well…if you ask the federal government they will say “YES”!, but if you ask any first time home buyer trying to purchase in West Bloomfield, Farmington Hills, Farmington, Livonia or anywhere, they will tell you “NO”! Why is this?
Mortgage rates improved this week over last according to Freddie Mac. In their weekly survey of mortgage rates, the average interest rate offered declined approximately 0.125% for a 30-year fixed rate mortgage, for a rate of 5.20%. The average reported rate for a 15-year fixed rate mortgage declined also, although not as much, to close [...]
The $8000 First Time Home Buyer Tax Credit is available for anyone who has not owned a home in the last 3 years and may be used as a down payment in certain situations. To use the $8000 tax credit as a down payment, it will need to be set up as a soft second [...]
*This is not an offer to lend. 
Obama Refinance Plan For San Jose Homeowners AnnouncedHome Affordable Refinance Program Update Harp 2 Bay Area San Francisco California March 2012 Guidelines for Purchasing a 3 to 4 Unit Property with FHA Financing in Alameda, CA8 Year Fixed to 30 Year Fixed. You Can Choose Your Loan Term In San Jose
