Effective with FHA Case Numbers assigned on or after October 4, 2010, FHA lowered its upfront mortgage insurance premium while simultaneously increasing the annual premium which is collected on a monthly basis. The change impacts borrowers utilizing the FHA program to purchase or refinance a home.
Saturday April 2 is going to be an important date for Spokane Washington borrowers with FHA loans in process and real estate agents writing contracts for clients utilizing FHA financing. That is the last day to obtain an FHA Case Number before the FHA upfront mortgage insurance premium increases 28% from 1.75% of the loan [...]
The temporary $8,000 home buyer tax credit offered to people purchasing a new residence is set to expire on April 30. The program applies to both first time home buyers and to individuals who have resided in their home for at least 5 of the last 8 years. To qualify for the program you must [...]
Spokane Washington home buyers, how’d you like to shut out the drafts in that old home you’re looking at, or install a new heating and air system. Or replace all the old windows with new dual pane models? An Energy Efficient Mortgage (EEM) can do just that. And better yet, you do not have to [...]
Believe it or not, a first time home buyer is not necessarily someone that has not owned a home previously. A first-time homebuyer is any person who has not owned a home in the previous three years. So even if you have owned a home in the past but have not owned a home in the last three years you qualify as a first-time homebuyer. Just so you know, this is 36 months at closing, not 35 and a half. So you could qualify for the $8,000 tax credit if you purchase a home before December 1, 2009 and haven’t owned a home in three years.
*This is not an offer to lend. 
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