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 [...]
Tags: down payment, Mortgage Insurance, Strategies
We generally write about specific programs, changes and situations, but I want to recap some of the thingsI feel are important to consider in today’s market. Let’s look at the reasons to buy now.
Long term mortgage rates are at 20-30 year lows
According to Freddie Mac, in a press release yesterday, the average rate on a 30-year fixed mortgage was [...]
Tags: Assistance, Fannie Mae, FHA, HomePath
Lots of changes coming down from the Department of Housing and Urban Development (HUD) on FHA Mortgage Loans. Here is a quick snapshot of what is changing in 2010:
90 Day Flipping Rule Waiver (Feb 1)
Up-front Mortgage Insurance Premium Increase from 1.75% to 2.25% (Apr 5)
10% Down Payment Required for Credit Scores < 580 (Summer)
Max Seller [...]
Tags: Closing Costs, FHA, Mortgage Insurance
