Author Archive

February 12, 2010 0

HVCC on FHA Loans

By Scott in Big Changes

It’s official…FHA is adopting the same basic premise as the HVCC ruling on Conventional Mortgages.
We posted on May 1, 2009 about HVCC on Conventional loans which stated:
Up until now the loan officer had the control to select an appraiser they felt had the best ability to appraise the house that would be used for the [...]

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February 8, 2010 0

Down Payment or Invest?

By Scott in Common Questions, FHA, Mortgage Insurance

If you could pay for a home with cash without getting mortgage financing, would you?  Should you?  That decision is both an emotional one and a financial one.  Let’s look at a recent example…
We received a call from a potential customer, referred to us by a real estate agent we work with, who was looking [...]

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February 1, 2010 1

CHFA FirstStep NOW Available

By Scott in Assistance, Big Changes, Qualifying

On January 28 we first told you about CHFA’s FirstStep and FirstStep Plus programs that were going to be available February 1, 2010.  It is now February 1 and we wanted to let you know the details of the program.
CHFA FirstStep
Through the sale of non-taxable mortgage revenue bonds, CHFA is able to offer mortgage rates [...]

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