Good news for San Gabriel Valley homebuyers: Prior to the Thanksgiving holiday, President Obama reinstated higher FHA loan limits through 2013. FHA loan limits can go up to 125 percent of local area median home prices. This means you can obtain a mortgage for a purchase or refinance in Claremont, San Dimas, LaVerne or Glendora for up to $729,750! [...]
Seller contributions can make a big impact for a first time home buyer struggling to save the required 3.5% down payment let alone all other related fees. A seller who understands the benefit and has the ability to offer assistance could make the difference between purchasing a home now and continuing to rent.
Knowing what questions to ask your Maryland lender during or before the loan application process is essential for making your mortgage approval process as smooth as possible. Many borrowers fail to ask the right questions during the mortgage pre-qualification process and end up getting frustrated or hurt because their expectations were not met. Here are [...]
Come to our Maryland Home Buyer Workshop on April 5th or April 7th at 7pm. In just 60 minutes, you will receive the knowledge you need to buy in today’s market. Prospective buyers in Maryland will receive a realistic preliminary estimate of costs and required down payment and a mortgage pre-approval letter you can take to [...]
FHA loans in Eugene/Springfield could become more expensive starting April 1, thanks to a Federal Reserve rule that changes the way loan officers are paid on any loans originated after that date, probably increasing closing costs and interest rates.
FHA Mortgages, Loans From Family With Down Payment Assistance for FHA Mortgages becoming a bit more difficult to find. Another source of funds for down payment to buy a home is a LOAN from an immediate family member. That is right. This a little known FHA underwriting guideline that is allowed. However, not all Mortgage Lenders [...]
Tax time has rolled around again this year and if you bought a home last year, you may be confused over the 1098 you received and the borrower’s closing statement you got at closing since they are probably different.
Did you know that you can buy a HUD (United States Department of Housing and Development) property using FHA financing with as little as a $100 down payment in Indiana? Normally FHA financing requires a 3.5% down payment from the borrower. If negotiated, HUD is also able to pay up to 3% of your closing cost and/or prepaid items.
That’s right! On April 18th 2011 FHA Monthly Mortgage Insurance Premiums go up for the first time since the changes in effect as of Oct 4th. The change is .25 basis points to the Monthly Mortgage Insurance Premium. The 25 basis point rise was proposed last week as part of the Obama administration’s report to [...]
An FHA mortgage option is looking even better as Fannie Mae changes its guidelines again. Coming in April your 740 credit score is going to cost you more if you don’t have enough equity in your property. If you have lower than 740 watch out! Your penalty for having a lower than 720 score just [...]
*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
