Rodney Mason - Conv, FHA, VA, USDA, Jumbo, Renovation Mortgages - AL, GA, & TN

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Mortgage and Lending - Prospect Mortgage - NMLS #151088



Beginning Jan 1st, 2009, the minimum down payment on all FHA purchase transactions will increase from 3% to 3.5%.  As the mortgagee letter states, "limit the total FHA-insured first mortgage to 100 percent of the appraised value, and require the inclusion of the upfront mortgage insurance premium...
Even in today's tighter credit markets, bridge loans are still available.  Only owner occupied properties are eligible for bridge loans and the property must also be currently actively listed for sale with a licensed Realtor.  The maximum LTV would typically not exceed 80% and maximum loan amount...
Investment Property Limitation As of October 10th, the maximum LTV on Investment Properties was reduced to 80% (3-4 units remain at 75% LTV).  This reduction was due to the mortgage insurance companies that insure these loans having discontinued MI coverage for this occupancy type. For Second Hom...
DeKalb County First Time Home Buyer Program Highlights The DeKalb County First-time Homebuyer Program is funded by the DeKalb County Human and Community Development Department and it is administered by the Housing Authority of DeKalb County (HADC).  About the Program The DeKalb County First-time ...
FHA loan limits are changing effective with credit approvals on or after January 1, 2009.                                    One-Family      Two-Family       Three-Family     Four-Family Atlanta-Marietta MSA     $346,250        $443,250          $535,800         $665,850 Athens-Clarke MSA        ...

Rodney Mason

FHA 203K & HomeStyle Renovation-AL,GA,TN
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