USDA Home Loans in Arizona
USDA Home Loans in Arizona
It is official, Academy Mortgage is at 100% capacity to issue loan approvals on USDA loans. As of September 8, 2010, USDA’s GUS System is fully functional and we are accepting applications to get qualified for a USDA home loan.
USDA Loan Requirements:
620 FICO Score
120% Median Income
3.50% Guarantee Fee **NEW** Used to be 2.00%
For more detailed information,...
HomePath Loans in Arizona
HomePath Loans in Arizona
With the number of REO properties increasing, HomePath financing is becoming more common compared to a year ago. HomePath financing. HomePath financing is available for Fannie Mae REO’s (Real Estate Owned/ Bank Owned properties) by searching if the property is located on HomePath.com property search tool.
The more REOs hit the market, the more questions...
Buying Properties From Foreclosure Auctions Is Tough!
Buying Properties From Foreclosure Auctions Is Tough!
If you have been to the auction block thinking that you can and will get a deal, then you know it is no walk in the park. In fact, you are dealing with professional buyers who purchase properties for cash only to sell them at a wholesale price or flip them into the retail market as soon as the property is off the block.
That is why on Tuesday,...
Homebuyer’s Tax Credit Extended
Homebuyer’s Tax Credit Extended
It’s OFFICIAL!! They finally agreed on something and were able to do something right!
The Senate and Congress has finally sent President Obama a plan to give home buyers an extra three months to qualify for up t0 $8,000 in federal tax credits. Buyers who already have executed contracts prior to April 30th will now have until Sept. 30 to complete their...
HomePath Financing is Available at Academy Mortgage, Arizona
HomePath Financing is Available at Academy Mortgage, Arizona
If you are thinking about buying a home and FHA is not an attractive or viable option or better yet, the property does not meet FHA’s stringent requirements, you might want to think about using HomePath Financing by Fannie Mae. For a while many lenders and brokers remained at a distance from this program due to very few investors...
Home Buyer Tax Credit To Expire on June 30th
Home Buyer Tax Credit To Expire on June 30th
As you know, the Homebuyer Tax Credit is set to expire as of June 30th. For those that were able to execute a contract at the end of April have until the end of June to qualify.
Be very aware of your pipelines and ensure that the lender that is underwriting your file is able to underwrite the file in a timely manner that will meet the deadline…
What...
USDA Home Loan Financing Is Now Available
USDA Home Loan Financing Is Now Available
Effective June 1, 2010, USDA Home Loan financing is available to homebuyers. However there are some major changes to the program.
First: The USDA Funding Fee is no longer 2.00% (two percent)
Second: The “NEW” USDA Funding Fee is 3.50% (three and a half percent)
Third: The GUS System (Guarantee Underwriting System) is currently turned off. This...
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,...
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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