Home Affordable Refinance provides refinance opportunities to borrowers with existing Fannie Mae loans who have demonstrated an acceptable payment history on their mortgage but have been unable to refinance to obtain a lower payment or move to a more stable product. Homes without monthly mortgage insurance are eligible to refinance up to the LTV limits below without adding monthly mortgage insurance.

 

These refinance options are intended to assist borrowers by providing a benefit that seeks to ensure long-term homeownership sustainability. We must represent and warrant that the borrower is receiving a benefit in the form of either:

A reduced monthly mortgage principal and interest payment;

A reduced interest rate;

A reduced amortization term; or

A more stable mortgage product; for example, movement from an ARM to a fixed-rate mortgage

 

Occupancy

MAX LTV

Owner Occupied

125%

Second Home

125%

Investment

105%

 

  

 

Sincerely, Jason Schweiger

Find me on facebook

 

What is a HAFA short sale?.. is it better than a regular short sale?
10/16/2012
share
The HAFA short sale program, effective from April 5, 2010, through December 31, 2012, has been touted as the answer to every short sale agent's nightmare. HAFA promises short sale approval within 10 days and gives the seller up to $3, 000 in cash at… more
Are you losing money. Seller paid closing costs and the maximum for…
03/19/2012
share
Hello, I am seeing many investment home purchase deals with seller paid closing costs exceeding the maximum amount and this is lost money for a purchaser. If you are buying an investment home right now, you, as the borrower/investor, must know the… more
FHA upfront and annual mortgage insurance increasing again for home…
03/16/2012
share
FHA has increased their upfront and annual mortgage insurance premiums again. It is getting very expensive for an FHA loan. If you can qualify for a conventional loan, the costs are much better. There is no upfront MI and much lower annual (paid… more
15 year loan versus the 30 year loan. Which mortgage is best for your…
03/14/2012
share
Determining which mortgage term is right for you can be a challenge. With a 15 year mortgage you will pay significantly less interest, but only if you can afford the higher monthly payment. Use this calculator to compare these two mortgage terms,… more
"No cost" refinance loan is not really a no cost. You just dont pay…
08/15/2011
share
There is a lot of confusion about the "no cost" refinance. What people need to realize is that there are always costs on a loan such as appraisal, underwriting, processing, title, escrow, and etc,. The difference is that with a "no cost" loan the… more
FHA loan or Conventional loan. Which purchase loan is best for my…
06/20/2011
share
Here are some real simple basic FHA pros/cons to simply go over and compare an FHA loan to a Conventional loan… FHA Pro: An FHA loan is designed for lower credit borrowers (640-700 range). The loan guarantee allows the government to make a… more
FHA increases the monthly MI and lowers the upfront MIP. Conventional…
06/18/2011
share
FHA has increased their monthly MI cost and lowered the upfront MIP fee to 1%. Conventional is a better option, if you can put down 5% instead of 3. 5% and if your credit is above 700. Conventional does not have an upfront funding fee and the monthly… more
FHA Annual Mortgage Insurance premium increasing April 18. Get your…
04/13/2011
share
FHA Annual Mortgage Insurance Premium Increase Introduction FHA issued Mortgagee Letter 2011-10, February 14, 2011, which announces a 25 basis point increase to the annual mortgage insurance premiums (AMIP) for forward amortizing… more
Existing home sales in the West are best! Distressed home sales still…
02/28/2011
share
The housing market continues to keep experts and analysts on their toes. I assume this will pattern of uncertainty will continue for at least 2011 and partially in to 2012, with more steadiness at that time. While existing-home sales rose again… more
 
Business_photo_for_jason Rainmaker_large

Jason Schweiger

Auburn, WA

More about me…

Network Funding LP

Address: Auburn, WA, 98001

Office Phone: (253) 315-5580

Cell Phone: (253) 315-5580

Email Me

Puget Sound Mortgage Broker working hard for my clients in the entire Puget Sound region including Issaquah, Bellevue, Seattle, Redmond, Kent, Auburn, Maple Valley, Covington, Renton and more.


Listings

Links

Archives

RSS 2.0 Feed for this blog

Find WA real estate agents and Auburn real estate on ActiveRain.