On Thursday the U.S. Senate voted to raise FHA loan limits to $729750 through 2013. The loan limits vary from county to county. This vote should add homebuyers to the search for new homes. FHA loans are an excellent tool for first time homebuyers. It allows for down payments as low as 3.5 percent. FHA does not make or approve loans, it insures the loans. FHA requires homes to meet certain safety and security requirements. Hand railings must be in place, all peeling paint must be scraped and painted and any broken windows need to be repaired. 203k rehab loans are also an FHA product, that can assist in purchasing distressed homes.
 
Posted by Wendy Burdett on 11/20/2011 01:04 PM   Comments (2)  
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HARP
03/21/2011
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Home Affordable Refinance Program (HARP) Extends by One Year The Federal Housing Finance Agency announced an extension of the Home Affordable Refinance Program (HARP), a refinancing program administered by Fannie Mae (DU Refi Plus) and Freddie… more
203k Seminar
03/07/2011
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Real Estate Agents: Join us at our 203k Seminar- Education Skills Do you have listings that simply will not sell? Are your borrowers looking at an older home that needs work? Do you have listings that need updating or repairs? YOU… more
FHA Changes coming our way
02/23/2011
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FHA CHANGES For all of you who have FHA deals in early stages you will want to read this. FHA is increasing annual MI (monthly payment) For all case numbers assigned on or after April 18, 2011 the new monthly mortgage insurance… more
MASS HOUSING
02/22/2011
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MASS HOUSING Mass Housing is an option that I think some people overlook. They have great rates and many little nuances for a loan that may not be able to go FHA. Down payment can be as little as 3% on a single family and condominium… more
UNCLE SAM WANTS YOUR MONEY
02/16/2011
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UNCLE SAME WANTS YOUR MONEY Americans who took advantage of the First Time Homebuyer Tax Credit in 2008 of $7500 will have to depart with some money. You now have to increase your tax liability when filing your tax returns by $500. 00… more
Hey Mr. Tech Savvy Agent - I LOVE You!
02/02/2011
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I am not a generation Y (age) girl myself, but completely agree with the fact that there are some people better communicated with by technology (texting). I am very quick to reply to text messages. My thought is that texts are something of great… more
A Pleasant Diner experience
02/02/2011
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Paula Chapin has moved to Charlies Diner Bar & Grill Charlies Diner Bar & Grill was originally called Mill Pond and was located in Wareham Ma. It was purchased by the Turner family in 1950 and moved to Plantation St. in Worcester… more
203K Rehab Loan - Nothing to Fear
01/23/2011
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Seems like everyone cringes when they hear the words 203k Rehab loan However, with 7 million dollars in delinquent or foreclosed mortgages out there, they will become very needy words. It is stating the obvious that when a home is… more
Re/Max of New England teams up with Prospect Mortgage
12/27/2010
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RE/MAX of New England Teams up with Prospect Mortgage to Better Service Clients in 2011 Prospect to be the preferred mortgage lender for RE/MAX Natick, MA - December 27, 2010 - RE/MAX of New England has recently entered into a new… more
 
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Wendy Burdett

Worcester, MA

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Prospect Mortgage

Address: 1393 Grafton St, Suite D, Worcester, MA, 01604

Office Phone: (508) 459-3621

Cell Phone: (508) 380-7697

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