Archive for the 'Mortgage News' Category
What FHA Buyers Looking At Condos Need To Know
Earlier this year FHA de-certified every Virginia condo development requiring that each community re-apply for FHA financing approval. Many communities still have not undergone this process leaving purchasers no option of financing units in the community with FHA Financing.
This leaves future buyers the option of purchasing homes with conventional financing...
Good News For Those Under Water!
The governments first attempt at solving the housing crisis began in 2009 with the Making Home Affordable Plan that ended up helping very few people due to the criteria required to qualify. They have finally revamped this program in a way that should allow for more people to get through...
Mortgage Update
Surprisingly, mortgage rates are still incredibly low and there are still a lot of really good options out there to keep down payments low. The only bad news at the moment is that the current loan limits are set to decrease to a maximum of $625,500 at the end of...
Can A Down Payment Be A Gift?
If you are planning on purchasing a home but lack the funds necessary for the down payment, there are loans that will allow you to receive a gift from a family member to cover this requirement. Here is a short video from a friend of mine in Southern Maryland who...
Fannie and Freddie Are Ready For Payback
Fannie Mae and Freddie Mac have started off the new year with a BANG, which includes higher fees for getting a loan. This is their latest version of "Risk Based Pricing" released in an effort to hedge off more of their risk in the lending.
Even a purchaser with a...
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