home loans: Ensure Your Clients Have Access to Affordable Mortgages - 06/22/11 08:18 AM
As your constituent, and a REALTOR®, I urge you to act now to make the current loan limits for FHA, Freddie Mac and Fannie Mae (the government sponsored enterprises, or GSEs) permanent. On October 1, 2011, the mortgage loan limits for FHA and the GSEs will decrease, lessening the availability of mortgage credit for hundreds of thousands of responsible and credit-worthy American families. What we need now is time for the real estate market and overall economy to heal, to self-correct, and stabilize. Reducing mortgage liquidity at this time will hurt our fragile economic recovery. H.R. 1754 has been introduced in … (6 comments)
home loans: Large Home Loans May get Harder to Come by - 06/13/11 02:11 PM
If you were waiting until the perfect time to buy that $700,000 house, you may not want to wait any longer. By the time this summer ends, the federal government will no longer back jumbo loans of $700,000 and above, making such mortgages harder to obtain. For more about this looming change, read this article from CNBC.com.************************************************************* Whether you're interested in buying your first home, your next home, or just want to know more about home-ownership in general, I encourage you to check out a couple of great online resources: http://www.texasrealestate.com/ or http://www.har.com/. And for all of your Pearland, TX and … (2 comments)
home loans: Pre-approved versus pre-qualified - 02/18/09 12:54 PM
Before you begin the process of shopping for a new home, consider getting a preliminary loan approval. There are two options available to consumers-pre-approval and pre-qualified. Although they may sound similar, they are, in fact, quite different. While both may place consumers in a potentially stronger buying position, getting pre-approved by the lender carries a bit more weight. Pre-qualified simply gives you an idea of how much money you might qualify to borrow. A pre-approval goes one step further than a pre-qualification. Typically pre-approval means that the lender has verified your financial situation. It lets sellers and agents know how much … (1 comments)
home loans: Getting a loan to buy a home - 05/14/08 11:43 AM
Could you pay cash for a home? Not many people can. Thankfully, we have mortgages at our disposal to make such a hefty purchase. But we're all painfully aware of problems in the mortgage industry these days. What does this mean for your planned house purchase? How did we get here? For a time, some lenders were making loans they shouldn't have made. I'll give you a hypothetical example: If someone with a shaky credit history applies for a loan; and his monthly payments on that loan represent 50 percent of his monthly income; and those payments have a good chance … (3 comments)
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As your constituent, and a REALTOR®, I urge you to act now to make the current loan limits for FHA, Freddie Mac and Fannie Mae (the government sponsored enterprises, or GSEs) permanent. On October 1, 2011, the mortgage loan limits for FHA and the GSEs will decrease, lessening the availability of mortgage credit for hundreds of thousands of responsible and credit-worthy American families. What we need now is time for the real estate market and overall economy to heal, to self-correct, and stabilize. Reducing mortgage liquidity at this time will hurt our fragile economic recovery. H.R. 1754 has been introduced in … (6 comments)
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