March 6, 2017
Buying a new home should be an exciting time in one’s life. Yet, many people are overwhelmed by the requirements for obtaining a mortgage. Fortunately, most stress-causing issues are totally avoidable! Over the years, I’ve witnessed many buyer actions that were ultimately harmful to their mortgage process. However, a little foresight and preparation can result in time saved, less paperwork,……
November 13, 2015
About time HUD loosened things up with regard to Condos so buyers can buy them with FHA financing. Thus far it’s been a fairly lengthy and tricky process that HOA’s have had to endure to get a Condo project approved and as a result, for many homebuyers, a Condo is not an option if they need FHA financing. Today’s announcement……
October 19, 2015
California Housing Finance Agency Launches New Mortgage Assistance Program Helps first-time homebuyers with down payment and closing costs SACRAMENTO, October 19, 2015 – The California Housing Finance Agency has launched the MyHome Assistance Program for first-time homebuyers who may need help with down payment or closing costs when purchasing a home. Buyers can receive up to 5% in assistance, low……
June 13, 2015
Realtors(R) and Homebuyers should be aware of new rules that go into effect August 1, 2015 that could add as much as 15 days or more to the Closing process. I have set up a very informative (free) webinar for Real Estate Professionals on the details. Click here to register and watch the free webinar on TRID rules
May 9, 2015
How long do I have to wait after Bankruptcy, Foreclosure or Short Sale to get a mortgage? Just like there are different ball games, each with different rules, mortgage loan products come with different guidelines when it comes to waiting periods since major derogatory credit events : Bankruptcy, Short sale or Foreclosure. And just like you wouldn’t apply softball rules when……
March 1, 2015
FHA is a home loan program insured by HUD and in 2008, about a year after the real estate and the economy as a whole took a downward turn and Private mortgage money virtually disappeared from the industry, FHA’s market share of all insured mortgages soared to about 72% . In 2009 FHA accounted for 25% all home loan originations…….
December 10, 2014
This is great news December 08, 2014 Fannie Mae Announces 97 Percent LTV Option for First-Time Homebuyers Lower down payment enables qualified borrowers to access credit Callie Dosberg 202-752-3117 WASHINGTON, DC – Today, Fannie Mae (FNMA/OTC) announced an option for qualified first-time homebuyers that will allow for a down payment as low as three percent. Building upon Fannie Mae’s successful……
May 26, 2014
There’s much misunderstanding in the Lending industry, even amongst Loan Officers and Underwriters regarding how much the Dept of VA allows a Seller to contribute. The confusion arises from misinterpreting the VA’s definition of “Seller concessions”. You see, in the VA’s eyes, the term seller concession does NOT apply to normal closing costs- it is anything other than normal closing costs……
