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first time buyer tax credit: Factors To Consider When It Comes to Your Mortgage - 04/09/10 09:04 AM
Putting Things in Perspective
Factors to Consider When It Comes to Your Mortgage
In last month's You Magazine, Barry Habib, Chairman of Mortgage Success Source, discussed how home loan rates may well buck the phrase, "March comes in like a lion and out like a lamb" due to the Federal Reserve ending its Mortgage Backed Securities (MBS) purchase program on March 31st. And the last week full week of March did in fact feel the "roar of the lion" as in two days, interest rates increased sharply following financial uncertainty and action within the bond markets.
With uncertainty surrounding the months … (0 comments)

first time buyer tax credit: Home Buyers the time to act is now - 03/15/10 04:40 PM
Attention Homebuyers: Double-Barrel Stimulus DeadlinesThreaten Rates and Affordability; The Time to Act is NOW!
The great author and speaker Og Mandino once said, "I will act now. I will act now. I will act now." This is great advice for prospective homebuyers over the next 45 days, as two key government programs that have kept home ownership more affordable than ever wind down to their completion. First, the Federal Reserve's Mortgage Backed Securities (MBS) purchase program will come to an end on March 31, just two weeks away! Without this program home loan rates could have been at least 1.00% higher...and … (0 comments)

first time buyer tax credit: Cash Strapped Buyers Could Get Shut Out - USDA Funding Running Low - 03/12/10 03:08 PM
Cash Strapped Buyers Could Get Shut Out
If you have buyers in need of 100% financing, take notice! One widely popular tool for funding is about to run out of money. Buyers that need a no down payment loan guaranteed by the USDA are running out of time to get their deal done. This program is a favorite among first time home buyers.USDA Rural Home Loans have been a phenomenal tool for helping cash strapped buyers get into homes for no down payment. Unlike many other loan programs though, the amount of funds available to fund these loans are set and … (0 comments)

first time buyer tax credit: 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)

first time buyer tax credit: USDA Program Makes "Rural" Homes More Accessible - 02/17/10 01:13 PM

USDA Program Makes "Rural" Homes More Accessible
One of the biggest difficulties many first-time home buyers face is a lack of down payment and the necessary funds for closing costs. However, even with the widespread availability of "no-money-down programs" evaporating in the credit crisis, one national no-down payment program still remains: USDA Rural Development home loans.Guaranteed by the USDA (United States Department of Agriculture), this program might make you think that you have to buy farmland or live "in the country" to qualify, but this is often not the case. In fact, you might be surprised to see just how … (0 comments)

first time buyer tax credit: Time is Running Out for Significant savings - 02/05/10 10:08 AM

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first time buyer tax credit: 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)

first time buyer tax credit: 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)

 

Richard Woodward

Frisco, TX

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Envoy Mortgage

Address: 17311 Dallas Parkway, Ste 173, Dallas, TX, 75248

Office Phone: (972) 661-5136 x 231

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