12 Reasons Why That House Might Not Qualify for FHA Financing
October 19, 2011 by Gabrielle · Leave a Comment
In my practice, FHA loans are used for the majority of home purchases. At the moment, without a doubt, an FHA 203(b) is the most logical choice. Credit score qualifications start at about 580 (depending on the lending institution involved), interest rates are awesome, the minimum down payment requirement is only 3 1/2%, closing costs run [...]
FHA Mortgage Insurance Changes & How They May Impact a Sale
September 27, 2010 by Gabrielle · 1 Comment
You may have heard that costs surrounding FHA loans is changing in October, reducing the dollar amount needed at closing for Upfront Mortgage Insurance, while increasing the monthly portion of mortgage insurance that is added to a homeowner’s payment. If you have previously been approved for an FHA loan but haven’t yet found a home, you’ll [...]
Investor Alert: FHA Financing for “Flipped” Houses
September 23, 2010 by Gabrielle · Leave a Comment
In mid-January, 2010, the Department of Housing and Urban Development (HUD) issued a temporary waiver (good until February 1, 2011, or until extended or withdrawn) to give FHA borrowers the ability of obtaining an FHA-insured mortgage on a home that was purchased less than 90 days previous. What this means is that a Buyer can [...]
Help for Underwater Homeowners?
August 16, 2010 by Gabrielle · Leave a Comment
Almost everyone I talk with these days is … as I am … backwards on their home loan-to-value ratios. Many of us bought our homes in the early 2000′s and then even refinanced them or added home equity loans somewhere in the 2005-2007 days, bringing our total home loan indebtedness to a number that is [...]
4 Reasons Why Those Who Wait to Buy a Home Will Pay Thousands More This Spring
January 28, 2010 by Gabrielle · Leave a Comment
Like most real estate professionals, I receive information weekly from the loan officers with whom I’ve worked or have an association about their latest mortgage programs, interest rate adjustments, changes in the bond market, whatever. Lots and lots of information; almost every bit of it is useful and timely. Some of it I understand; some if [...]
