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conventional: New Conventional Flip Rule! - 10/09/09 08:07 AM
ATTENTION! Mortgage insurance companies are adapting a similar rule as FHA in regards to flipping properties. This will impact the mortgage market starting 10/12/2009, not leaving us with much time. If you have Conventional buyers above 80% loan to value, please make sure the mortgage insurance has been ordered prior to this date. This is coming out at rapid speed 3 out of 5 mortgage insurance companies have adopted this rule. The other two are in the process and have strict requirements to do a loan under 90 days and I believe they will be changing their rules as well within … (2 comments)

conventional: Pricing on FHA is beating a 20% down Conventional loan? Are you kidding me? - 08/25/08 10:03 PM
Okay, I'm shocked....I just priced out a 20% down Conventional with a 647 credit score, I just knew Conventional would beat FHA. NOPE, even with mortgage insurance FHA beat out Conventional. I'm not sure how I feel about this.
I can remember when 647 was a good score, there are pricing hits even with a 739 and 20% down. So the new walk on water credit score is 740+, who has that anymore? Scary considering that the average credit score for Americans sit around 670 ish.
So when the time comes, how do I explain to the buyer with 20% down that FHA … (9 comments)

 
Catherine_4683

Catherine Eusea-Mortgage Lender at

Fort Collins, CO

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Prospect Mortgage

Address: 2032 Caribou Drive #102, Fort Collins, CO, 80525

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