Home Loans For Second Homes and Investment Properties Still Viable - 04/29/11 07:22 AM
Home loans for second or in other words, vacations homes and investment properties are still available in today’s mortgage market. Of course, the standards are a little different than for the purchase of a primary residence (a home you will live in), but there are still affordable options given the current level of interest rates and house prices.
For starters, you will need a down payment for the purchase of a second home or investment property and it will be need to be more than 0% or 3.5% as you can not use a FHA home loan or VA loan to … (0 comments)

Adjustable Rate Home Mortgages Making A Comeback - 04/29/11 07:18 AM
Believe it or not, adjustable rate mortgages are making a comeback During the housing boom nearly seventy percent of all mortgages issued were ARMs, but then disappeared during the downturn, totaling just three percent of the total market in 2009. However, ARMs now make up 5% of all mortgages issued, and Freddie Mac predicts that will jump to 10% by December 2011. Behind the comeback in ARM mortgages, is that right now these loans are a great bargain for the right person.
5 year fixed adjustable rate mortgages currently have interest rates near 3.5%, compared to almost 5% for 30 year … (0 comments)

Housing Flips Allowed Within 90 Days - 04/29/11 07:16 AM
In today's real estate market we see many purchases that are properties which were recently foreclosed on and now being sold by the bank. This has been a reality of a market that has at times and in certain areas seen more bank owned properties as conventional home sales. As a result of the decline in prices we have also seen an increase in properties being bought by investors, often on a cash basis, cleaned up and then put back on the market for resale, very quickly. For these particular cases, what you may have heard as, as the 90 day … (2 comments)

Lower Down Payments For Conventional Home Loans Back - 04/29/11 07:14 AM
While FHA home loans still remain an attractive option for many home buyers looking to put a smaller down payment on the purchase of a home, conventional loan down payment percentage minimums continue to decrease.
In fact, in today’s market in Arizona, while an FHA loan will require a 3.5% down payment, you can now obtain a conventional loan with mortgage insurance for as little as a 3% down payment.  Of course, conventional loans due require a buyer, especially when putting a smaller down payment have solid debt to income ratios and a good credit score. However, for certain buyers, there … (0 comments)

 

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