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fha: $5000 Grants to Home Buyers - Welcome Home - 02/17/11 11:13 AM
WELCOME HOME GRANT Up to $5000 Grants to Home Buyers for Down Payment & Closing Costs Dear Ohio Realtors and Home Buyers, We are ready to begin our annual down payment assistance program from the Federal Home Loan Bank of Cincinnati ("FHLB"). Funds will be available for reservation beginning March 1, 2011. Q. What is it?The $200,000 in funds from the Welcome Home Program are utilized to assist low to moderate income home buyers (see chart below for limitations) for the acquisition of their primary residence. The $5,000 down payment grant may be used in conjunction with a Conforming Fannie
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fha: Rules for Dropping Mortgage Insurance (MI, PMI) - 02/11/11 09:04 AM
Dropping Conventional Mortgage Insurance Rules Getting rid of the MI expense is not as easy as you would think. Here are the basics. Automatic Termination Fixed Rate & Adjustable - Removed when reduced to 78% LTV LTV based upon ORIGINAL VALUE Based SOLEY on regular amortization (not prepayment of principal) Additional Requirement: Mortgage payment must be current Borrower Requests Termination Fixed & Adjustable - Removed when reduced to 78% LTV Additional Requirements: Submit cancellation request in writing Good payment history Current on mortgage payments Appraisal or Certification that property value has not decreased BELOW the original value No 2nd liens or
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fha: New FHA Limits - $341,250 for Franklin and surrounding counties - 02/26/09 01:39 PM
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fha: First-Time Homebuyer Tax Credit - 09/05/08 06:47 AM
Michael Reeve, CMPS® Vice President The First Bexley Bank 614-237-2006 x129 directmreeve@firstbexleybank.com
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fha: Housing and Economic Recovery Act - HR 3221 - 08/20/08 10:50 AM
Washington has been busy lately. In one of the most rapidly approved bills in memory, the Housing and Economic Recovery Act was passed into law, and could have significant implications on the housing and mortgage industry. While there is a lot to share with you, I wanted to reach out to let you know a few things that could impact you or someone you know right away. The first thing that stands to impact many homebuyers is the elimination of what is known as seller down payment assistance for FHA loans. Seller down payment assistance is where a home seller contributes
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Michael Reeve
Bexley,
OH
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The First Bexley Bank
Address: 2680 East Main Street, Bexley, OH, 43209
Office Phone: (614) 682-5252
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