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If you are a first-time homebuyer, have less than perfect credit, or simply just do not have a 20% down-payment, then an FHA loan may be for you. We know everything there is to know about FHA loans. While FHA has been the hot and “new” topic for the past [...] 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 [...] 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 [...] As a result of the appeals process outlined in Mortgagee Letter 2008-36, single family mortgage limits for 2009 have been updated for 54 counties. Those counties represent five Metropolitan Statistical Areas and one non-metro county. A listing of affected counties, with the final median prices and FHA (forward, non-HECM) loan limits for 2009 is posted [...] |
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