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How to Purchase a Home with a FHA Loanwith almost Zero Down
For a limited time, up to 99.5 % financing is being offered to increase home ownership opportunities to individuals and families in California.
Continue reading...FHA Streamline Changes Coming To AZ
Thursday, October 8, 2009
For many people who have FHA loans in Arizona, the FHA streamline program has been great because it has allowed them to refinance into a lower rate even if they owed more than their home is worth thanks to the no-appraisal requirements. But that is about to change on November 17, thanks to the new announcement from HUD and as our friend from NJ put it “ They took the streamline out of FHA streamline “
Continue reading...What changes are on the horizon for FHA Mortgage Loans?
Wednesday, September 9, 2009
Craig Tomlinson of Bell Real Estate in Eugene recently posted this this blog post about possible changes in FHA Mortgage Loans . He asked some of the same questions many people have now about what is going to happen with FHA loans in the future. He didn’t have the answers and neither do I about what FHA will be doing, but I know what they are doing.
Continue reading...From Drab Home to Fab Home
Friday, August 21, 2009
Watch your dream home transform before your eyes in five easy steps using the FHA 203k Rehab Loan … The FHA 203k Rehab Loan in Texas allows you to truly make your home your home. Everyone has different tastes in decor and what could be better than to move into a fully customized home?? Furthermore, with all the foreclosures on the market there may be some items that are required to be repaired prior to moving in. By simply following these easy steps below you will ensure a smooth transaction and we hope will be happy with the outcome.
Continue reading...California FHA 203K Rehab Loan
Monday, August 10, 2009
If you are purchasing a foreclosure anywhere in California, especially in Los Angeles County or San Bernardino County , your best bet for rehabilitation of the property is to get an FHA 203-k loan. For many, buying a foreclosed property can present certain challenges: Challenges: Sale is “As Is” Seller is not willing to fix or provide repairs Standard FHA financing is not available Buyer’s concerns about property condition Lack of funds for repairs The advantages and benefits of an FHA 203-k loan can overcome all of the above challenges.
Continue reading...What Does FHA Insure?
Wednesday, July 15, 2009
What FHA Insures FHA insures mortgages on properties that consist of detached or semi-detached single family residences, townhouses or row houses, and individual units within FHA approved condominium projects. FHA will not insure mortgages on commercial enterprises, boarding houses, hotels and motels, tourist hourses, private clubs, bed and breakfast establishments, and fraternity or sorority houses. Second/vacation homes are not permitted. Investment property allowed on Streamline Refinances only
Continue reading...Sellers can pay veterans’ debt to qualify for a VA home loan
Tuesday, July 14, 2009
We’ve talked about seller contributions towards closing costs but did you know the seller can pay off a veteran’s debt to qualify?
Continue reading...Clarifying the $8000 tax credit for Seattle FHA home purchases
Tuesday, July 14, 2009
Due to recent confusion , here is how the FHA $8000 tax credit plays out according to the best of my knowledge and research. Effective date- Good thru Dec
Continue reading...FHA Jumbo Purchase And Refinance In Virginia
Monday, July 13, 2009
New American Mortgage is now offering FHA jumbo purchase and refinance for Virginia. Contact us for pricing. Purchase and Rate/Term Refinance 660 Minimum FICO for all borrowers Max DTI ( debt to income) : 31/43 2 Appraisals required for purchase transactions, regardless of LTV Gift Funds are not permitted, however, gifts of equity from family members may be accepted for LTV’s under 80% Max LTV of 94.99% for purchase/rate term refinance Cash Out Refinance 680 Minimum FICO for all borrowers maximum cash out limited to $100,000 or the lesser of 20% of loan amount The borrower may not have any other financed properties other than the subject property 2 Appraisals are required for cash-out transactions, regardless of LTV Max LTV of 85% for cash out refinance Max DTI: 31/43 FHA Jumbo loan limits vary by county in Virginia.
Continue reading...FHA 203k Renovation Loan Series (Part 3) – Texas
Thursday, June 18, 2009
The FHA 203k Rehab loan for Texas gives a buyer the flexibility to customize a home. It also offers a seller a way to market a home that may needs minor repairs, upgrades, etc. There are very few limits to this loan program in terms of the repairs and renovations which may be performed. Some examples of those include but are not limited to: Foundation Repair Roof repair/replace Paint interior and/or exterior Install new flooring Remodel kitchen/bathrooms/bedrooms Upgrade central air/heat Repair termite or moisture damage Energy efficiency improvements Handicap accessibility To find out more about this program or to apply please contact Leesa Sandoval at 972-407-7922 or 214-202-0491. www.leesasandoval.com Check out the final part of this series for restrictions on the 203k Rehab Loan Program. Copyright
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Wednesday, October 14, 2009
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