tax: 2010 FHA Loan Limits for Massachusetts - A New Year, Same Numbers
- 12/31/09 06:39 AM
2010 FHA Loan Limits for Massachusetts - A New Year, Same Numbers As I reported previously for Rhode Island and Connecticut, 2010 is an year off from changes in maximum FHA loan amounts, and the same holds true for Massachusetts. Here are the area loan limits, by county: Barnstable County: $462,500 Berkshire County: $271,050 Bristol County: $475,000 Dukes County: $729,750 Essex County: $523,750 Franklin County: $318,750 Hampden County: $318,750 Hampshire County: $318,750 Middlesex County: $523,750 Nantucket County: $729,750 Norfolk County: $523,750 Plymouth County: $523,750 Suffolk County: $523,750 Worcester County: $385,000 For those who have read the Connecticut article, you'll notice that … (0 comments)
tax: 2010 FHA Loan Limits for Rhode Island - Unchanged from 2009
- 12/31/09 05:28 AM
2010 FHA Loan Limits for Rhode Island - Unchanged from 2009 Yesterday, I wrote about the updated FHA lending limits for Connecticut. To learn more about the methodology used in calculating limits, I would suggest circling back to that article. Today, I want to pass along the same information for Rhode Island. This year has been a relatively quiet one in real estate pricing in Rhode Island. Almost all areas saw a decline in value, some very significant. If anything, I believe Rhode Island is fortunate not to have seen its FHA loan limits cut for this year. FHA limits are … (0 comments)
tax: 2010 FHA Loan Limits for Connecticut - Just How Much Can You Borrow with less than a 5% Down Payment?
- 12/30/09 06:15 AM
2010 FHA Loan Limits for Connecticut - Just How Much Can You Borrow with less than a 5% Down Payment? There are fewer than 36 hours left until 2010, so it's time to start thinking about some of the changes we'll see in mortgages in the New Year. One aspect of lending that changes eery year is the amount that can be borrowed using the government's Federal Housing Administration (FHA) insurance program. Each county across the country is given a different amount based on average home prices within that county. For 2010, as 2009, certain counties have received higher than normal … (2 comments)
tax: 6.5 steps to $6500: Getting the Move-up buyer's tax credit in 2010 for Providence and beyond!
- 12/29/09 08:12 AM
6.5 steps to $6500: Getting the Move-up buyer's tax credit in 2010 for Providence and beyond! Throughout 2009 there was a lot of talk about further means to stimulate activity in the real estate market. Many things were happening already: the Federal Reserve preserved the mortgage market by inserting itself as the largest, and sometimes only, buyer of mortgage backed securities; and an $8000 tax credit for first time homebuyers was instituted quite successfully, among other efforts. For 2010, congress has presented additional buyer incentives to maintain activity. If a flaw can be found in the original 2009 homebuyer tax … (3 comments)
tax: Economic Stimulus Act Signed Into Law - What does it mean for homebuyers?
- 02/17/09 04:02 AM
As I write this, the president is poised to sign the American Recovery and Reinvestment Act of 2009, better known as the $787 billion Economic Stimulus Plan. There has been much speculation about what this plan might do for housing, real estate, homebuyers, and mortgages, ranging from 2.99% to 4.5% mortgage rates, $15,000 tax credits, and more, but when the dust settles and the plan is signed into law, the final effect will be quite different. The most important thing the finaliztion of this plan will accomplish is it will end that speculation. Over the past few weeks, I have spoken … (29 comments)
tax: CHFA and the $7500 Federal First-Time Homebuyer Credit
- 11/17/08 02:11 AM
Many of you who work in Connecticut are familiar with a very effective First-Time Homebuyer mortgage program offered by the Connecticut Housing Finance Authority. The CHFA Homebuyer Mortgage Program follows most FHA guidelines, but is restricted in regards to the buyers' income, and offers subsidized interest rates that are typically at a small discount to FHA rates. In my experience, the only reason I ever lose a Connecticut loan is to the CHFA program; unfortunately, it is a program we are unable to offer, as it is only available to mortgage companies with offices in Connecticut. On Thursday, I spoke with … (1 comments)
tax: How to Save for Your New Home: 5 ways to build 3%
- 04/04/08 06:36 AM
In the last century, the required down payment for a home purchase changed significantly, decreasing from 50% of the price to 20% to as little as $0. Recently, though, banks have started to ask for more. For most homebuyers, without a special deal through an organization like Nehemiah, 3% investment is the bare minimum. Here are 5 ideas that you can use to save for your new home. Got a 401(k)? Today, more and more employers are offering this tool for retirement savings. Some even give free matching money for participating. Make sure you're saving at least enough to get all the … (4 comments)
tax: $729,750: The New Jumbo (for now)
- 02/11/08 04:27 AM
That's right, the economic stimulus package will be in effect shortly, and with it will come the ability for Government Sponsored Entities Fannie Mae and Freddie Mac, along with the Federal Housing Administration (FHA), to increase their loan purchase limits significantly in higher cost areas. Sure, more of us are thinking about the $600 or $1200 check we're getting back as part of this (flat-panel TV anyone?), but for those who own higher value homes, this potentially means two more important things: Easier to refinance to a better loanMore buyers can get better financing to buyFor homeowners and homebuyers considering pricier … (2 comments)
tax: 13 Important Details to Know About Your Mortgage
- 01/17/08 06:51 AM
Whether you choose to open your mortgage with Province Mortgage Associates, or with another institution, there are several important details you should know before beginning the mortgage process. Because so many mortgage difficulties begin with last minute surprises about your mortgage, I have assembled this checklist to assist you in your search for a mortgage, and to make sure you are fully informed about the process. I hope that you will print out this checklist and bring it on your meeting with your mortgage provider. When you're done, my contact information is at the bottom should you have any questions. Loan Terms
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!
2010 FHA Loan Limits for Massachusetts - A New Year, Same Numbers;)
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