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usda rural housing: ***For MISSISSIPPI - New USDA Rural Housing Income Limits - 01/26/12 03:35 PM
Effective 01/18/2012, the Household Income Limits were increased for the USDA Guaranteed Rural Housing loan for the State of Mississippi.
1-4 person household: $74,750 (increased from $74,050.00)
5-8 person household: $98,670 (increased from $97,750.00)
This applies to ALL Mississippi Counties!
For more information please contact DOUG CAPPS at (662) 429-5100 ext. 105. NMLS ID #68160.
Fairway Independent Mortgage Corporation, 224 West Commerce St, Hernando, MS 38632 is a "MS and TN Licensed Mortgage Company." NMLS ID #2289. An Equal Housing Lender. All loans are subject to credit approval and compliance with investor guidelines. Fairway Independent Mortgage … (0 comments)
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usda rural housing: Think USDA Rural Housing First!! - 01/18/10 03:05 PM
If the USDA Rural Housing loan applys to your area, make sure you are working with a local lender who will offer this product to your client as a possible mortgage option.
Additional benefits with USDA Rural Housing:
Can be used in conjunction with MSHC Homebuyer Advantage Grant Flexible credit guidelines Not subject to HVCC guidelines (FHA is adopting February 2010) No sales price limitation as with FHA No minimum down payment required Allows for repair escrow (must escrow 150% of cost - up to 110% of appraised value) Closing costs can be financed (with room between the purchase price … (3 comments)
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usda rural housing: USDA Rural Housing - FAIRWAY Still Closing Loans!! - 02/16/09 09:04 PM
As many of you are aware, there are many Lenders that have ceased originating and funding USDA Rural Housing loans until funds for the USDA program have been appropriated.
Fairway Mortgage has (2) Investors that will allow us to continue funding USDA loans regardless of the funds appropriation.
If you have any questions or any clients that need assistance, please let know.
Fairway Independent Mortgage Corp, "A MS and TN Licensed Mortgage Company" 224 West Commerce St, Hernando, MS 38632. An Equal Housing Lender.
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usda rural housing: For MISSISSIPPI - Fairway Mortgage Ranked #10 in Mississippi for USDA GRH Loans - 12/22/08 06:05 PM
The USDA newsletter, December 2008 came out today and Fairway Mortgage was ranked #10 in the entire State of Mississippi for originating USDA Guaranteed Rural Housing loans!! And we accomplished that with only ONE branch and 3 originators!!!
For such a small office, this is a HUGE ACCOMPLISHMENT!! Most of the top 10 lenders have hundreds of branches/offices across the state.
For more information about the USDA Guaranteed Rural Housing loan program, please contact DOUG CAPPS at (662) 429-5100. Fairway Independent Mortgage Corporation, 224 West Commerce St, Hernando, MS is a "MS and TN Licensed Mortgage Company."
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usda rural housing: Why use the USDA Guaranteed Rural Housing? - 11/18/08 06:16 PM
Why use USDA Guaranteed Rural Housing?
The 100% Guaranteed financing offers your clients the most affordable payment, least out of pocket costs and a competitive interest rate!
NO down payment NO first-time homebuyer requirement NO maximum loan limit NO monthly mortgage insurance NO limit to seller contributions Closing cost and prepaid items may be included 620 or higher credit score receives automatic credit approval 660 or higher means qualifying debt-to-income ratios can be waived! Plus many more features...
For more information about the USDA Guaranteed Rural Housing Program, contact DOUG CAPPS at (662) 429-5100. Fairway Independent Mortgage Corporation, 224 West Commerce St, … (0 comments)
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usda rural housing: USDA RURAL HOUSING Income Limit Change? - 11/07/08 10:02 AM
According to a recent lender notice, a direct final rule was published by the Federal Register to simplify the USDA Rural Housing income limit structure. These income changes will become effective January 20, 2009 UNLESS adverse comments are received by January 5, 2009.
Until final acceptance and implementation of these proposed new income limits, the current limits below will be utilized.
For more information about the USDA Guaranteed Rural Housing Program, please contact DOUG CAPPS at (662) 429-5100. Fairway Independent Mortgage Corporation, 224 West Commerce St, Hernando, MS, "A MS and TN Licensed Mortgage Company"
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usda rural housing: FOR Mississippi - 100% Financing with USDA Guaranteed Rural Housing - 04/22/08 01:04 PM
USDA Guaranteed Rural Housing is NOT just for Mississippi, but for the purpose of this post, the map below is for Desoto County. To see if you are in an eligible area, go to: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do.
With the demise of 100% conventional conforming loans, there has been a large resurgence of these types of loans. Because this is a government guaranteed loan, many loan officers/ loan originators may not like to offer these programs to their prospective clients and may not even be knowledgeable enough to offer them. This is a good loan program, but like every other program, is not the "right … (10 comments)
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Doug Capps, MMS, CLO, CRMS
Hernando,
MS
More about me…
Fairway Independent Mortgage Corp.
Address: 224 West Commerce St, Hernando, MS, 38632
Office Phone: (662) 429-5100 x 105
Cell Phone: (901) 412-9590
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