What is FHA?
A federal agency within the Department of Housing and Urban Development (HUD) that provides mortgage insurance for residential mortgages and sets standards for construction and underwriting. The FHA does not lend money, nor does it plan or construct housing.
Customer … (0 comments)
down payment assistance: 3.5% down payment on FHA effective 1/1/09 - 11/19/08 10:05 AM
Changes:
1. The down payment calculation method will be simplified - property value and average closing costs by state (High Cost/Low Cost Factors) will no longer be considered.
2. The cash down payment required will be 3.5% of the appraised value, or the sales price (whichever is less). Closing costs may … (4 comments)
down payment assistance: Couple of important updates/information - 10/22/08 02:15 PM
**Investment purchases with Lender Paid Mortgage Insurance or Buyer Paid Mortgage Insurance will no longer be allowed on LTV's 80%+, which means 20% down on ALL Investor purchases!**
Please note- this is not a Wells Fargo change, this is coming down from the MI companies and therefore will apply … (0 comments)
down payment assistance: Down Payment Assistance Programs- there are still options! - 09/17/08 10:38 PM
A lot of people have the misconception that all down payment assistance programs have been eliminated. This is NOT the case. The only down payment assistance programs that were done away with are seller funded down payment assistance programs, i.e: Nehemiah, Ameridream, Genesis Foundation, etc. There are still many down payment … (5 comments)
down payment assistance: The Housing and Economic Recovery Act of 2008 is Signed into Law - 07/30/08 09:23 PM
Recently, the House and Senate passed broad-based housing legislation, which was signed into law by President Bush this morning. Heralded as the most sweeping housing reform since the "New Deal", it includes the creation of a strong regulator for Fannie Mae and Freddie Mac, changes in conforming and FHA loan limits, … (2 comments)
down payment assistance: The Clear Facts on FHA - 06/17/08 12:59 PM
Below is some good information on FHA. I'd also like to note that FHA does allow for compensating factors to help offset something's. For example, if someone has had an isolated late payment recently. Also, if we run it through the decision engine and get an automated approval we can go … (2 comments)
down payment assistance: Financing at 98% with no score req. and a great rate! - 05/13/08 02:10 PM
I want to share this loan information with as many people as I can, because it is such a great loan for people. Feel free to ask questions. Have a great day!
CDMP (Community Development Mortgage Program)- purchases only
- Financing at 98% with ability to use non-profit down payment assistance … (0 comments)
Related Links:
STACEY KING- Colorado Mortgage Alliance, an Affiliate of Wells Fargo Home Mtg
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Comparison of Available Downpayment Assistance Programs 
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