purchase: 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.
… (0 comments)
|
purchase: Create Your Own Stimulus Package - 05/07/10 11:18 AM
… (0 comments)
|
purchase: Are Interest Rates On the Rise - 05/03/10 10:44 AM
… (0 comments)
|
purchase: Special Alert Fed is meeting soon and could impact rates - 04/21/10 12:07 PM
Richard Woodward
Banker / Senior Branch Manager
When Trusted Advice Counts
Office: (972) 661-5136
17311 Dallas Parkway Suite 173 Dallas, TX 75248
Visit Us Online - www.Envoy-Mtg.com
… (0 comments)
|
purchase: Fannie Mae Changes Rules regarding Obtaining new mortgages after short sale - 04/15/10 02:38 PM
Many people today are considering short sale or deed-in-liew of foreclosure as an option to foreclosure. How does that effect the sellers ability to obtain a mortgage in the future? Today, Fannie Mae announced an immediate change to it's guidelines that could help some buy a new home sooner than in years past.
According to a letter posted yesterday (April, 14, 2010) written by Marianne E. Sullivan, Senior Vice President at Fannie Mae, borrower waiting periods will be shortened if they put more money down on their purchase. This move is in an effort to support overall market stability and reinforce the importance of borrowers working … (2 comments)
|
purchase: 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)
|
purchase: 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)
|
purchase: 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)
|
purchase: 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)
|
purchase: 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)
|
purchase: 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)
|
purchase: Time is Running Out for Significant savings - 02/05/10 10:08 AM
… (0 comments)
|
purchase: 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)
|
purchase: Lenders and Realtors need to work together to help Buyers understand the new GFE - 01/28/10 04:52 PM
Now more than ever a good working relationship is essential. An Open Letter to Texas Realtors Recent guidelines from Washington have forced a change to the way that loan originators will disclose closing costs for all homebuyers. The purpose of the new Good Faith Estimate is to level the playing field for borrowers comparing loans to be able to make apples to apples comparisons for loan scenarios. In essence, HUD is working to bring all lenders up to the same standard of excellence in reporting closing costs that I have always adhered to, estimating realistic fees that a buyer should expect … (3 comments)
|
purchase: 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)
|
purchase: Daily Rate Lock Advisory for 1/13/10 Texas - 01/13/10 02:03 PM
Dallas Texas mortgage rates still holding in the high 4's and low 5's but good news about the end of the recession from the Federal Reserves office means bad news for mortgage bonds. Rate could start a slow steady rise. Visit www.EnvoyMortgage.us for a quick rate quote.
Richard WoodwardBanker / Senior Branch ManagerWhen Trusted Advice CountsEnvoy Mortgage
Office: (972) 661-5136 Fax: (972) 314-9647
17311 Dallas Parkway Suite 173 Dallas, TX 75248
Visit Us Online - www.EnvoyMortgage.US
… (0 comments)
|
purchase: Daily Rate Lock Advisory - 01/11/10 11:57 AM
Richard WoodwardBanker / Senior Branch ManagerWhen Trusted Advice CountsEnvoy Mortgage
Office: (972) 661-5136 Fax: (972) 314-9647
17311 Dallas Parkway Suite 173 Dallas, TX 75248
Visit Us Online - www.EnvoyMortgage.US
… (0 comments)
|
purchase: What's Ahead for Home Loans in 2010 for Dallas Texas - 01/08/10 11:56 AM
The Times They Are a ChangingWhat's Ahead for Home Loans in 2010 for Dallas Texas
This year could bring significant changes from 2009 for those seeking home loans. Over the last year, home prices fell to 2003 and earlier levels in many parts of the country. In addition, home loan rates declined to the lowest levels on record and this combination led to the highest home affordability levels ever recorded. Here's a recap of what happened in 2009 and what you need to know for the year ahead.
Would You Like a Sweetener with that Rate?
Interest rates throughout 2009 were … (0 comments)
|
purchase: The New Good Faith Estimate - 01/06/10 05:49 PM
Effective January 1, 2010 HUD implemented the new Good Faith Estimate (GFE) for both Refinance & Purchase transactions of FHA & Conventional loans. HUD has been working on this revision for over 4 years and finally pushed it through last year. The goal was greater clarity and transparency for borrowers. I do not want to get into the details of every single field of this 3 page document or I could write my own book. I would rather write about what I like about the New Good Faith Estimate form and what I don't like.
Improvements I like:
All origination charges lumped together- This … (4 comments)
|
;)
;)
