Here we go again…more FHA guideline changes coming to us this spring! When subprime and alternative loan products disappeared, FHA was the savior in Los Angeles allowing home buyers to once again borrow with very little down payment, low credit scores and high loan limits. But like many good things, they aren’t meant to last [...]
HUD issued a press release last week announcing 3 changes to the FHA program which will effect Orange County homebuyers using FHA financing to purchase a home. There had much much anticipation and apprehension about possible changes to the FHA program, so this is not unexpected. And when you get down to it, the changes [...]
FHA commissioner Dave Stevens announced that FHA will be changing the maximum amount a seller can contribute towards a Delaware home buyers closing costs. The current maximum is 6% of the purchase can be contributed towards the buyers closing costs. This will change in April of 2010 to only 3% of the purchase price. The [...]
New Jersey First Time Home Buyer Tax Credit Questions & Answers How Much Time Is Left? – It is time to get moving!!!! The credit applied to homes purchased before May 1, 2010 (and on or after November 7, 2009). New Jersey home purchases which have a binding contract before May 1, 2010 will qualify [...]
This is NOT your FHA 203K Renovation Program. Alaska Housing Finance Corporation offers a special program for Alaska buyers who wish to purchase a home in need of renovations or updates. Alaska borrowers can utilize this program to finance a new home and include renovations, using FHA, VA or Conventional financing. AHFC will allow [...]
FHA announced a series of changes to their Down Payment, Credit Score, Seller Contribution and Mortgage Insurance requirements for San Jose mortgages. Reduce allowable seller concessions from 6% to 3% According to FHA – The current level exposes the FHA to excess risk by creating incentives to inflate appraised value. This change will bring FHA into conformity with [...]
FHA announced yesterday, January 20, 2010 some additional policies: WASHINGTON – Federal Housing Administration (FHA) Commissioner David Stevens today announced a set of policy changes to strengthen the FHA’s capital reserves, while enabling the agency to continue to fulfill its mission to provide access to homeownership for underserved communities. The changes announced today are the [...]
FHA announced that upfront mortgage insurance premium requirements for San Jose, CA FHA Home Loans is being increased. Upfront Mortgage Insurance is the money that FHA collects at the time of closing a mortgage to insure the loan against default. Currently, this premium is 1.75% for most purchase and refinance transactions. However, effective April 5, [...]
Instead of writing about the mortgage business right now, I want to express my displeasure with those people out there that keep stealing my blog posts for their websites without credit. I am finding more and more of my blog posts showing up in “no host” sites without attribution for the one actually doing the work. They are taking my blog posts in their entirety and re-blogging them without credit to the original author. That is stealing and it is a violation of copy write laws, but the problem is how to enforce the laws. To do anything I would have to hire an attorney and it isn’t worth the expense.
Maryland is changing it’s FHA guidelines on April 5th 2010. and here are 3 important changes you need to know about. The new Maryland FHA upfront mortgage insurance premium (UFMIP) will be 2.25% for all purchase and refinance loans up from 1.75% Maryland FHA seller contributions will be cut in ½. You will be limited to a [...]
*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
