FHA To Increase Annual MIP Premiums Effective 4/18/11 - 02/15/11 10:37 AM

The Department of Housing and Urban Development (HUD) announced on February 14, 2011 that it would be raising the Annual Mortgage Insurance Premium effective April 18, 2011. The amount of the increase will be 25 basis points per year. On a $250,000 loan with the minimum 3.50% down payment the monthly MIP will increase from $187.50 per month to $239.58 per month. This is an increase on a $250,000 loan of $52.08 per month. To read the announcement go to HUD Mortgage Letter 2011-10. As many of you already know Fannie Mae and Freddie Mac have increased the costs of their … (4 comments)

Special Tax Rules For Military Members - 02/07/11 09:51 AM

Do you serve in the military? Are you aware there are special provisions built into the tax code for military members? The IRS has a section on their website to find information on what tax credits might apply to you. Maybe you made a move this year or sold your home. You might even have questions on a home you own, but you rent out. Members of the U.S. Armed Forces, especially those serving in combat zones, face some special tax situations and are entitled to some special tax benefits.
For federal tax purposes, the U.S. Armed Forces includes officers and enlisted … (0 comments)

Military Fallen Or Wounded Scholarship Applications Extended - 02/05/11 09:43 AM

The National Military Family Association has extended their scholarship deadline for spouses of wounded or fallen service members until February 15, 2011. Apply today or share with a friend who might be interested!
The military spouse scholarship program recognizes the importance of military spouse education and the difficulties that come with achieving higher education due to moves and expenses. Each year, hundreds of military spouses receive our scholarship to help them on the path to a successful career.
National Military Family Association scholarship funds are awarded only to military ID-carrying Uniformed Services' spouses (active duty, retiree, Reserve, National Guard, and/or survivor).
For more information … (0 comments)

Can How You Pay Your Rent Effect Your Credit Score? - 02/04/11 04:36 PM

Until recently rental payment history was not reported to the major credit bureaus and therefore wasn't included on your credit report. Because it was not included on the report, the payment history was not included in the credit score.
Experian, one of the 3 majors credit reporting companies, recently announced that it will be the first major credit reporting agency to include these payments in its credit reports.
To get the data Experian acquired RentBureau in 2010. RentBureau is the largest and most widely used credit bureau for the multifamily industry. A national network of 45 property companies – including large apartment … (4 comments)

Have You Considered An FHA Mortgage Loan? Here's 10 Reason Why You Should. - 02/04/11 11:49 AM

The last several years have seen great changes in the mortgage industry. Many loan programs have been eliminated and others have had the requirements to qualify tightened. One program that has stayed relatively in tack is the FHA Home Loan. The guidelines have remained relatively unchanged. Over the past few years the FHA share of the market has been increasing. If you are looking for a loan there are a number of reasons to consider an FHA loan. They include: Smaller Down Payments - The required down payment is 3.5%. For most conventional loans the minimum down payment is 5%. Lower … (0 comments)

 
Alan Gross (PrimeLending, A PlainsCapital Company) Rainmaker_large

Alan Gross

Bethesda, MD

More about me…

PrimeLending, A PlainsCapital Company

Address: 704 Quince Orchard Rd., Suite 230, Gaithersburg, MD, 20878

Office Phone: (240) 813-0614

Email Me

Tibits on mortgage facts and mortgage information For Sale Webinar


Listings

Links

Archives

RSS 2.0 Feed for this blog