Real estate blog entries tagged with hud by Dan Hartman (Province Mortgage Associates

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Home : Blogs : Dan Hartman : Mortgages, Finance and Economics - Quality Loans from Dan Hartman : Tag "hud"

hud: Down Payment Assistance Programs: Suspended, for now - 09/15/08 09:59 AM

Well, it's official. I got an email this morning from our last wholesaler that was offering to fund loans using seller-funded down payment assistance programs like Nehemiah or Ameridream, stating that they were going to stop accepting new registrations for loans using these programs.
So, this means no more 100% financing, right?
Well, not exactly.
According to the Wall Street Journal on Wednesday, several members of Congress, including Financial Services Committee Chair Barney Frank, are pushing legislation that would restore the status of seller-funded down payment assistance programs such as Nehemiah and Ameridream. The legislation would, however, place significant restrictions on … (3 comments)

hud: $729,750 is the New Jumbo: Update - 02/25/08 10:51 AM

Last week, we received word from one of our lenders regarding their interpretation of the new Jumbo mortgage rules included with the economic stimulus plan. Here's what will be happening:
HUD will release Median Home Prices for the country within the next 30 daysConventional limits will increase to the higher of the current limit of $417,000 or 125% of the median area home price, not to exceed $729,750FHA limits will increase to 125% of the median area home price, not to exceed $729,750Loans can be purchased that were closed from 1 July 2007 through the program's end 31 December 2008So now we … (0 comments)

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Dan Hartman

Providence, RI

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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

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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!

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