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Rates are up, rates are down… they are even going left and right. What should YOU do? Freddie Mac VP, Frank Nothaft said that rates were holding steady. Well Franky my man, I disagree. Yes they may have held steady considering the economic reports that were coming out, but they DEFINITELY were moving. Maybe he was talking [...] Do YOU know WHO is actually eligible for an FHA Loan? Here’s the skinny: 1. Any U.S. Citizen with a valid U.S. Social Security Number 2. Any Permanent Resident Aliens 3. Any Non-Permanent Resident Aliens, provided they: Have a valid SSN Here’s a quick guideline check for individuals that are currently in a Credit Counseling Program. 1. Must be in the plan for at LEAST 12 months 2. Must show history of payments for the 12 months, along with all creditors that are included 3. Must get permission from the counselor to enter into a new mortgage In a way, [...] I have voluntarily stopped watching news. Seriously. What can CNN, FOX News, or even your local news tell us that we haven’t seen, or better yet, experienced first hand in this wild real estate market the past year or so? Absolutely nothing! If I wanted negativity, I would ask my Uncle Frank how his prostate is holding up. All [...] 1. Is there a secondary mortgage market for Section 203(k) mortgage loans? Yes. The Government National Mortgage Association (GNMA) permits the Section 203(k) mortgage to be placed in both GNMA I and II pools with Section 203(b) mortgages. GNMA accepts the 203(k) mortgage once it has been endorsed by HUD. The Federal National Mortgage Association [...] A heads-up to realtors and buyers: the Feds want to help you buy and fix up existing homes. FHA 203K rehab loans are for you, not for someone else. What’s in it for them? They want foreclosure properties and long-listed homes to get into the hands of caring owners. How do they help you? They guarantee mortgages that [...] Military Income: In addition to just the base pay, military personnel may be entitled to additional forms of compensation. Income from variable allowances, clothing allowances, flight or hazard pay, rations, and proficiency pay is acceptable, provided that its probability of continuance is just verified in writing. An additional consideration may be the tax-exempt nature of some [...] Comparing deals for a mortgage can be a very confusing task. You can shop til you drop for mortgage rates, mortgage fees, and the best APR (Annual Percentage Rate); however do you REALLY know what to look for? Well let’s have a look. Just the other day, I was having coffee with a potential client that was [...] Call Us NOW to get a LOWER RATE. By Amy Hoak, MarketWatch CHICAGO (MarketWatch) — Lured by low mortgage rates, many homeowners have been rushing to refinance. Interest is gaining for good reason: Eligible borrowers can lock in rates that haven’t been this attractive in decades. “With interest rates hovering around 5% for conforming loan amounts, homeowners should [...] |
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