fha: Do I have sufficient credit to obtain a FHA loan? Can I use a co-borrower? - 06/05/09 02:38 PM
Many still have questions in this lending environment. While guidelines on credit have tightened, there is still plenty of money to be lent. Many lenders, including mine, have increased minimum credit scores to obtain a FHA loan up to 600. This does not mean you need perfect credit, but you do have … (0 comments)
fha: FHA MIP effective October 1, 2008 - 09/15/08 03:55 PM
President Bush recently signed into law the Housing and Economic Recovery Act of 2008.
Effective October 1, 2008, all FHA purchases with case numbers after September 30th will require 1.75% UFMIP. This is the amount of MIP charged up front, which can be financed into the loan
All case numbers … (0 comments)
September 20, 2008 at 11:00AM
8712 Bel Air Road
Baltimore, MD 21236
Seating is limited, so please RSVP by calling or emailing:
Bob Lowery, Consultant
Prosperity Mortgage Company
410.248.1762 Tel
443.653.1720 Mobile
Bob.Lowery@prosperitymortgage.com
· FREE Home … (0 comments)
fha: Support Downpayment Reform (H.R. 6694) - 08/10/08 10:49 AM
President Bush signed H.R. 3221 Housing and Economic Recovery Act of 2008 into law on July 30, 2008. The bill included the elimination of downpayment assistance (DPA) programs. This eliminates any gift monies from an any interested party within the transaction, including the seller. However, gift monies from family members and … (3 comments)
September 20, 2008 at 11:00AM
8712 Bel Air Road
Baltimore, MD 21236
Seating is limited, so please RSVP by calling or emailing:
Bob Lowery, Consultant
Prosperity Mortgage Company
410.248.1762 Tel
443.653.1762 Mobile
Bob.Lowery@prosperitymortgage.com
… (0 comments)
fha: Congress' response to the elimination of Down Payment Assistance Programs. - 08/01/08 06:50 PM
To follow up on Gary Miljour's blog, I also received response from my congressman on the elimination of the down payment assistance programs. He also refers to FHA as sub-prime loans. I never knew this until I saw the two letters from our congressmen.
I guess he is pretty much … (1 comments)
fha: Housing Rescue Bill - Its official! - 07/31/08 11:34 AM
President Bush signed the Housing "rescue" bill on July 30th. Here's a brief recap:
Creates a voluntary program for lenders to write down the loan balance in exchange for an FHA guaranteed loan not to exceed 90 percent of the newly appraised value of the home. The lender would pay a … (0 comments)
fha: Ameridream, Genesis and Nehemiah are gone...minimum cash requirement is up! - 07/24/08 09:08 AM
Below is the bill going to Bush's desk and is expected to be approved. This will eliminate seller funded DAPs, including Ameridream, Genesis and Nehemiah effective October 1, 2008. If the borrower is not under contract, FHA DE underwritten and approved by September 30, 2008, the DPA will not exist.
Also, the … (2 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Many still have questions in this lending environment. While guidelines on credit have tightened, there is still plenty of money to be lent. Many lenders, including mine, have increased minimum credit scores to obtain a FHA loan up to 600. This does not mean you need perfect credit, but you do have … (0 comments)
;)
;)
