Time to hop off the wall before FHA builds it higher. - 02/22/11 11:43 AM


 
Effective 4/18/11, FHA is again increasing their annual mortgage insurance premiums(PMI). 
Most borrowers, who are using the FHA loan for maximum financing (currently only 3.5% down) are paying 90 basis points on a monthly basis.  As of 4/18/11, this will increase to 115 basis points. 
 
Here is an example.
Today:    Loan amount of $200k would have a monthly PMI fee of $150.
4/18/11:  Loan amount of $200k would have a monthly PMI fee of $192.
 
As you can see, this increase is fairly significant, and will ultimately decrease a buyer’s purchasing power if … (0 comments)

Open House Sunday.....$20,000 price break on Model homes. - 02/18/11 04:58 PM
Builder is eager to finish Model homes to your style and wants. Welcome the Pillsbury Ridge of Londonderry. Centrally located in Londonderry off Pillsbury Road between Mammoth and High Range this new community consists of 7 private home sites. Two models are open for your convenience every Sunday from 12-3PM.
 
 4 Jake Road,  Mls# 2738607
2464 square feet of finished interior living space, ready for your selections and occupancy in 30-45 days.
4 bedrooms include the master suite with private bath. FHA gas heat. Attached family room with gas fireplace. Set on a wooded 8+ acre lot at the end of … (0 comments)

Top 22 HUD homes for sale in Hillsborough County 2/26/2011 - 02/15/11 03:03 PM
WHAT IS A HUD HOME?
A HUD home is a 1 to 4 unit residential property that has been acquired by HUD as a result of a foreclosure on an FHA- insured mortgage. HUD is the primary owner and offers it for sale to recover the loss on the foreclosure claim.   HUD Homes are initially offered to owner-occupant purchasers.  Following the owner occupancy period, unsold properties are available to all buyers, including investors.  The buying process is relatively simple and smooth and should be performed with the assistance of an experience Realtor. Send me an email if you'd like more information on purchasing … (3 comments)

Top 11......HUD Homes for Sale in Rockingham County. 2/26/2011 - 02/11/11 04:29 PM
HUD, THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT,  offers free or low-cost counseling services for buying, renting, defaults, foreclosures, credit issues and reverse mortgages.  A HUD home is a 1 to 4 unit residential property that has been acquired by HUD as a result of a foreclosure on an FHA- insured mortgage. HUD is the primary owner and offers it for sale to recover the loss on the foreclosure claim.   HUD Homes are initially offered to owner-occupant purchasers.  Following the owner occupancy period, unsold properties are available to all buyers, including investors.  The buying process is relatively simple and smooth and should be … (5 comments)

The Elephant in the room gets relief....... - 02/10/11 04:16 PM
We all know who the elephant in the room is when we think property types...The Condex.
For those who are not familiar with the term Condex, its half a duplex in simple terms. A condo with no condo fees, in most cases.  There has been an increase in bank owned and short sale Condexes in southern New Hampshire.  The reasonable prices are very appealing to a great number of entry level homeowners.  Only road block was obtaining financing. Now, FHA, VA and NH Housing all have financing options available for condex ownership.

Conventional  5% down payment...minimum credit score 680-700, both … (4 comments)

 
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Ross Therrien, Realtor, Broker Associate

Londonderry, NH

More about me…

Prudential Verani Realty, Londonderry,New Hampshire

Address: 1 Verani Way, Londonderry, NH, 03053

Office Phone: (603) 434-2377 x 5320

Cell Phone: (603) 321-8940

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