|
| |
condo: New Green Shoots? How About Significant Improvements to FHA Condo Guidelines!!! - 08/10/09 07:16 PM
Washington's buzzword last month was "green shoots" to suggest tiny indications of improvements to the economy and financial markets. After 2 years of lender closures and program cuts, this fall we may just start seeing some green shoots in mortgages, as well.
Mortgage financing on condominium properties has been a sore point for mortgage and real estate professionals this year due to the intensified scrutiny these properties receive from underwriting, and the often-frustrating guideline variations from one lender to the next. Perhaps most challenging for the mortgage professional is that we are unable to provide our clients with assurance that the … (0 comments)
|
condo: What's new in the mortgage market? Keeping up on recent changes - 03/30/09 11:26 AM
Good morning!
It’s been a little while since I had the opportunity to write, and I wanted to pass along a bit of information about what is going on in the financing market. There have been some changes recently that need to be considered, so I’d like to take a few minutes to run through them. If you have questions about any of these in particular, please don’t hesitate to call me.
FICO Updates
Over the past two months, many individual lenders have set credit score requirements that differ significantly from traditionally accepted criteria. At present, a 620 credit score is … (1 comments)
|
condo: Financing Condominiums – What you need to know Part II: How Condos are Approved for Financing - 11/03/08 01:04 PM
Last week, we looked at some of the most significant factors that are considered in condominium approval. Let’s examine the 5 methods allowed for approval of a specific condo.
Fannie Mae / FHA Approval
Fannie Mae and the Federal Housing Administration used to approve condominiums following an exhaustive process that involved extensive questionnaires, appraisals, review of hundreds of pages of condo documents, and, as often as not, site visits. As the housing market has worsened, the expense of performing these reviews was no longer justified. Despite their termination of this process, both FNMA and FHA maintain an extensive list of approved … (0 comments)
|
condo: Financing Condominiums – What you need to know Part I: Financing Considerations - 10/31/08 01:37 PM
I’m going to open this up this article with a shocking revelation:
Condominiums are not the same as single-family homes.
Lenders do not view condominiums in the same way as single-family homes. There are additional risks that are considered, additional documentation that must be obtained, the result of which is that purchasing a condominium can be tougher than it seems. Let’s take a look at a few factors that are considered in evaluating condominium mortgages, and at the 5 ways that condos can be approved for conventional financing.
Completion
Banks are most concerned with the aspects of a condominium that … (0 comments)
|
|
|
|
|
|
Dan Hartman
Providence,
RI
More about me…
Province Mortgage Associates - (401) 263-8655
Address: 10 Davol Sq, Providence, RI, 02903
Office Phone: (401) 490-4400 x 114
Cell Phone: (401) 263-8655
Email Me
Dan Hartman's Blog about mortgages, real estate, and the economy in New England, and the United States, especially Rhode Island Rates, Connecticut Mortgages, Massachusetts Rate Locks, and New Hampshire Home Sales. Let Dan leverage his MBA in Finance and experience as a college professor for you!
 Links
Archives
|
|
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2012 ActiveRain Corp. All Rights Reserved
;)
;)