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fha: How to Buy a Home in Today's Market - 06/29/10 10:58 AM
How to Buy A Home in Today's Market
Buying a home raises a lot of questions. We know because we answer those questions every day. Our goal is to help you get straight answers to your specific questions. To make it easier for you, we've put our experience into this E-book. Click Here to get yours FREE.
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fha: Where Are Rates Going Now? - 03/05/10 02:03 PM
Important Deadlines on the Horizon
Two years ago, the Washington Post reported that home loan rates shot up to nearly 7% from 6% in less than a week. The volatility demonstrated that week resulted from turmoil in the financial markets and a lack of buyers for mortgage backed securities (MBS).
That volatility continued through November 2008 when the Federal Reserve announced a program designed to lower rates and provide stability to housing. That program has been incredibly successful, driving rates to the lowest levels of all time. However, as this program will end March 31st, people want to know: Where are … (2 comments)
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fha: How to Buy a Fixer-Upper - 03/01/10 02:49 PM
How to buy a Fixer-Upper
FHA 203(k) For Purchases
Real estate agents and home buyers are scrambling to adjust to today’s real estate market which is filled with foreclosed homes that have suffered from disrepair and neglect. Many banks that own these foreclosed properties are unwilling to repair them. As a result, many foreclosed properties do not qualify for traditional loan programs. FHA’s 203(k) loan program provides the funds necessary for both the purchase AND the renovation of a home.
Loan Program Advantages:
Streamline Program, Limited Repairs Up to $35,000 Low Down Payment Credit Scores as Low as 620 Competitive … (0 comments)
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fha: Time is Running Out for Significant savings - 02/05/10 10:08 AM
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fha: Those Who Wait Will Pay Thousands More This Spring - 01/29/10 11:47 AM
Those Who Wait Will Pay Thousands More This Spring
Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority (FHA).Coming just weeks before the April 30 deadline for the Home Buyer Tax Credit and just days after the March 31 expiration of the Federal Reserve Board's mortgage backed securities purchase program (which has kept home loan rates artificially low for over a year), these FHA changes make it even more important to … (0 comments)
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fha: FHA Announces Big Changes to Existing Programs - 01/20/10 03:54 PM
Today FHA announced that it would make sweeping changes to the current FHA mortgage program in an attempt to shore up it's beleaguered balance sheet. As many existing FHA borrowers default on their home loans the move is necessary to ensure the program stays solvent.
The biggest impact will be the increase in the up front mortgage insurance required. FHA will raise the up-front Mortgage Insurance Premium, paid by borrowers, from 1.75 percent to 2.25 percent as well as request legislative authority to increase the maximum annual MIP that the FHA can charge. This is the second time in two years … (0 comments)
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Richard Woodward
Frisco,
TX
More about me…
Envoy Mortgage
Address: 17311 Dallas Parkway, Ste 173, Dallas, TX, 75248
Office Phone: (972) 661-5136 x 231
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