LaPorte and Surrounding counties FHA Loan Limits - 02/27/09 09:57 AM
As a part of the Stimulus Package,some counties in our area have increased, but the Indiana FHA loan limits for LaPorte, Starke, St. Joseph and Elkhart Counties will remain at the 2008 levels. 
One-Unit -    $271,050
Two-Unit -     $347,000
Three- Unit - $419,425
Four Unit -    $521,250
There really never has been a better time than now to buy, build or refi.  If you or anyone you know are looking for a true mortgage professional to review the opportunities that are out there please give me a call at (219)872-8000.  Or you can apply online at the Mad Mortgage … (0 comments)

Porter and Lake County 2009 FHA Loan Limits - 02/26/09 04:51 PM
As a part of the Simulus Package, the loan limits for Porter and Lake Counties have increased back to the 2008 levels. 
One-Unit -    $410,000
Two-Unit -     $542,850
Three- Unit - $634,450
Four Unit -    $$788, 450
There really never has been a better time than now to buy, build or refi.  If you or anyone you know are looking for a true mortgage professional to review the opportunities that are out there please give me a call at (219)872-8000.  Or you can apply online at the Mad Mortgage Machine blog, the Indiana FHA Expert.  You can download my 14 … (0 comments)

Best time in Indiana to Refi - 02/24/09 04:46 PM
If you are in Indiana and have any equity in your home it is the perfect time to refi.  Rates are still historically low, and soon there will be some changes from Fannie and Freddie that will make refi’in a tad harder.  I have a great example of why it is more than perfect time to refit.
I just closed a home refi with a husband and wife, they were fantastic and ecstatic.  They loved me as well.  I was able to take them from a 7.5% FHA rate to 5.5 conventional loan.  What makes me angry is that when they … (0 comments)

This week in Indiana Mortgage Rates - 02/23/09 08:06 PM
Last week, traders brushed off the passage of the American Recovery and Reinvestment Act (porkulus) and the President’s mortgage relief plan.  (the jobs not as easy as you thought)
It really showed just how insecure the markets are about the stimulus package and the impact it could have on the economy.  My own fear is rampid inflation in 2010 and rates move even higher.     
 
I broke down the rest of the data and publised it on my website over at the www.madmortgagemachine.com
It is a great resource for the Indiana Home Buyer   
Please take a moment and pop over … (3 comments)

Good News, could be a early thaw - 02/03/09 01:25 PM
 
Good News, A thaw is heating up  
Posted by Dave February 3, 2009  
If the thawing of credit is paramount to an economic rebound, the first signs of spring may be here.
On Monday, the Fed released its quarterly survey of 84 member banks. In it, the Fed says that fewer than half of the responding banks tightened “prime” mortgage guidelines over the last 3 months.
This is good news for active home buyers and other Americans in need of a new mortgage.
The word “Prime” is a term that is vague in respect to home loans, but … (5 comments)

This Week, Switching to Decaf - 02/03/09 07:52 AM
This week, Consumer confidence hit an all-time low and 100,000 Americans were laid off last week, each of these events played a role in the mortgage market's decline. For the 3rd straight week, mortgage rates moved up coupled with average loan fees increasing, as well. However, seemingly lost in all of the negative economic news.  There were two bright shining lights worth looking into and discussing.  They show that we may be closer to a recovery than previously expected.
the supply of "used" homes for sale fell from 11 months to 9 months nationwide, and NW Indiana is a little better … (5 comments)