FHA Guideline Changes on April 5th, 2010
FHA Guideline Changes on April 5th, 2010
And if you think things could get any tougher for an FHA borrower!
In an effort to tighten up its latest embarassment, (FHA’s balance sheet and dwindling capital reserves), the Federal Housing Authority is rolling out sweeping financial changes that can affect you or your customers. FHA borrowers will need to look better on paper and be better credit...
FHA: Increase in Upfront Premiums for FHA Mortgage Insurance
FHA: Increase in Upfront Premiums for FHA Mortgage Insurance
FHA’s Up Front Mortgage Insurance Premium (UFMIP) for purchases and refinances in the Arizona area will increase from the current 1.75% to 2.25%. To remain eligible for the 1.75% UFMIP Factor, case numbers must be assigned before April 5. On a $200,000 loan FHA Mortgage Loan in Maricopa County, this is an additional $1,000 cost. ...
USDA Rural Development Home Loan Program – Running out of funds
USDA Rural Development Home Loan Program – Running out of funds Update 06/01/10
USDA Has Funds Available – For more information go to : USDA Has Funds
You may or may not have heard, USDA has announced that they anticipate funding for the guarantee program will be exhausted by the end of April. This announcement is different from the past announcements regarding exhaustion of funds,...
Appraisals: FHA vs. Conventional
Appraisals: FHA vs. Conventional
Once upon a time, there was a difference between an FHA appraisal compared to a Conventional appraisal. For many years, real estate professionals, investors and motivated buyers avoided an FHA loan out of the fear that the appraisal, known for it’s vigorous inspection of the condition of the property, would complicate the transaction and therefore opening preference...
Fannie Mae: You can now choose your own Title / Escrow Company
Fannie Mae: You can now choose your own Title/ Escrow Company
Many homebuyers have encountered the typical experience when dealing with a title company. After driving around for days and putting in countless offers, they get an offer accepted to only have the listing agent tell them and their agent that they have no choice in who they can use in regards to their title insurance and escrow company.
Once...
With 11 years in the lending industry, Ted is proficient in structuring the client’s loan to ensure that the client obtains the best financing. He has become a recognized leader in real estate education and hosts real estate seminars for his clients and the business communities in the Southwest. His attention to the details and in-depth knowledge of the loan process ensures that you are getting the best service possible.
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