USDA Guaranteed Rural Housing Loans
The USDA has great loan program designed to help moderate income buyers purchase a home in traditionally rural areas with 100% financing. The first step is to determine if you are eligible to qualify based on the USDA's income limits. The second step is to determine if the area in which you plan o ...
(Posted: 3/25/2008 4:44:51 AM) Permanent Link
Tags: [100% financing, declining markets]High-End Goes High-Tech
Can you remember a time when new homes did not come standard with washers, dryers, dishwashers, garbage disposals, compactors, central air conditioning, and the like?
Chances are slim that you remember when new homes were built with pretty much an empty shell and the buyers added ...
(Posted: 3/21/2008 5:10:31 AM) Permanent Link
FHA Loan-to-Values and Cash to Close
FHA loans do not allow 100% financing but the maximum LTV for FHA is 97%.
When purchasing a home using an FHA loan it is necessary for the buyer to come
with a 3% down payment from sources other than the seller, realtor, builder or
lender. ...
(Posted: 3/20/2008 5:49:37 AM) Permanent Link
FHA Automated Underwriting
Most FHA loans are run through an automated underwriting system(AUS)which can approve an FHA loan at higher debt ratios than what is set by FHA at 31/43. ...
(Posted: 3/20/2008 5:49:37 AM) Permanent Link
Hard Money Made Easy
The definition of "hard money" in real estate financing is basically a
non-bankable loan. Lenders are loan in on the borrowers hard assets. The term hard money is sometimes interchanged with "private loans", "private money",
"bridge loans", etc. ...
(Posted: 3/20/2008 5:49:36 AM) Permanent Link
FHA Manual Underwriting
Some lenders will not touch an FHA loan that can not be approved through an automated underwriting system, and some have started to require minimum credit score requirements. However, there are quite a few lenders who will manually underwrite FHA loans. ...
(Posted: 3/20/2008 5:49:35 AM) Permanent Link
Getting Wealthy From Real Estate Investing
Getting Wealthy From Real Estate Investing
Do any online search for real estate investing – or on how to get wealthy in any way – and chances are youll get a ton of sites that promise to tell you how to “get rich quick” through real estate investing.
Yes, many o ...
(Posted: 3/17/2008 5:26:21 AM) Permanent Link
Refinancing your home in 2008
With the recent credit crunch and tightening guidelines in the mortgage industry, refinancing your home in 2008 and beyond is going to be more difficult than it has in the past. Here are some tips on how to prepare yourself and your credit for the new lending guidelines. ...
(Posted: 3/17/2008 5:07:47 AM) Permanent Link
New FHA loan limits
The Federal Housing Administration (FHA) has announced new mortgage loan limits for high cost areas. These new loan limits will have a very positive effect on homeowners seeking a lower, fixed interest rate. ...
(Posted: 3/14/2008 9:45:15 AM) Permanent Link
Your Options For Refinancing With Late Payments
Currently many homeowners across the nation are behind on their mortgage payments. Many of these late payments are due to adjustable rate mortgage(ARMS) that have reset from the initial low rate and are now impossible for people to pay. Refinancing is one option many people look to but traditional f ...
(Posted: 3/14/2008 9:45:13 AM) Permanent Link
Tags: [past due mortgage, refinance, late payment]
Refinance an ARM Loan to a Fixed Rate Loan
There has been quite a bit of news coverage regarding Adjustable Rate Mortgages adjusting upward. There are many ways to refinance an ARM Loan to a Fixed Rate Loan. The next few paragraphs will examine the benefits and strategies of refinancing an arm loan to a fixed rate loan. ...
(Posted: 3/14/2008 8:50:32 AM) Permanent Link
Tags: [refi arm, fixed rate, fha, mortgage, refi]
Tougher Mortgage Lending Guidelines
Why have mortgage lenders tightened their guidelines so much? Can I still buy a home with zero or no money down? Will I be able to refinance with the tougher mortgage lending guidelines? I am not able to refinance and my ARM is about to expire what should I do?
These are some very common questio ...
(Posted: 3/14/2008 8:50:31 AM) Permanent Link
Tags: [mortgage lending, underwriting, qualifying]
Teacher Loans
Special mortgage financing, with flexible qualifying guidelines, is available for teachers. ...
(Posted: 3/14/2008 8:24:00 AM) Permanent Link
This is not a commitment to lend.
Restrictions may apply. Information is subject to change without
notice. All loans are subject to credit approval. Equal Housing
Opportunity.