February 5, 2016
Homebuyers in Temecula, Murrieta and other areas of California can now buy a home with a Downpayment Assistance Grant that does NOT need to be repaid. Yes who read that right. It’s a true grant, not a deferred loan like many other programs. With the Sapphire Downpayment Grant program, California homebuyers can choose to have either 3% or 5% of……
May 6, 2014
FHA and VA loans particularly can be tough to complete on Condo projects because of the (often) tight requirements laid down to get the Condo project to be acceptable. So it’s often a relief to Seller, Buyer and Realtors when a property is found to be a PUD instead. PUD stands for “Planned Unit Development” and here’s the kicker …….
December 1, 2011
Homebuyers and Real Estate Agents often don’t realize that FHA allows a Borrower to co-sign as the **Non Occupant** Co-Borrower on an unlimited number of FHA loans. Really? Yes Really. Even though, unless there are special circumstances, (like a forced job relocation or sudden and dramatic increase in family size) a homebuyer can really only have one FHA loan at……
November 7, 2011
it’s a little known fact amongst Homebuyers, Renters, Realtors and even Loan Officers that both FHA and VA allow a Borrower to purchase a home after they’ve made 12 timely payments on a Chapter 13 BK. Wait! What? Yes you read that right. Why is this important? It’s important because while grappling with many unpaid collections, charge off’s and judgements,……
October 8, 2011
If you’re getting married and plan on a Bridal Registry, there’s good news for you. You can set up a ‘Downpayment Registry’ and have family and friends dump some cash in there for you which can later be used towards the FHA required Downpayment on a Home! This isn’t a new program at all; . ..it’s been around since 1996……
October 7, 2011
What Are FHA Rules For Buying A Home After Short Sale? HUD that oversees FHA came out with the Mortgagee Letter in Dec 2009 which essentially gave FHA’s blessing for buyers who were forced to short sell their homes to be able to buy a home just 1 day after short sale! Here’s the rules Buyers are NOT eligible if……
September 25, 2011
HUD homes are those being sold by HUD. If such homes are indicated as “IE” this means that the FHA loan on it (203b) can be insured by HUD with Escrow Repairs. So “IE” means “Insured With Escrow Repairs”. Only repairs below a total of $5,000 can qualify for this type of FHA financing and meet minimum property standards required……
September 24, 2011
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FHA Loans / General / Latest News & Updates / USDA Guidelines & Rules
Our Free Class For Real Estate Agents yesterday, held at the SRCAR (Board) was a terrific success! Great feedback from Agents who said it was super informative! The topic was ‘Rules For Buying After Bankruptcy, Foreclosure or Short Sale’ For more information call 877-332-9703
September 15, 2011
What Are FHA Rules For Buying A Home After Short Sale? HUD that oversees FHA came out with the Mortgagee Letter in Dec 2009 which essentially gave FHA’s blessing for buyers who were forced to short sell their homes to be able to buy a home just 1 day after short sale! Here’s the rules Buyers are NOT eligible if……
August 27, 2011
FHA Mortgages offered through HUD are Government insured against default and therefore, because of the government cushion given to Lenders who make FHA loans, very attractive interest rates are available. Furthermore, just like for Veterans (VA Loans), FHA carries a special feature that’s not available for Borrowers who have loans backed by Fannie Mae or Freddie Mac (Conventional). This special……
