loan information: USDA Rural Development's GRH Loan Program - 10/06/09 10:30 AM
Guaranteed Rural Housing (GRH) financing with a 30 year fixed rate mortgage is available for buyers who do not exceed moderate income limits, have good credit history, and have stable income with...
• No Money Down!
• Low 30 Year Fixed Rate!
• All One Loan!
• No Reserves Needed!
• No Monthly Mortgage … (1 comments)
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loan information: $8000 tax credit coming to an end - 10/06/09 10:06 AM
It's My Life... It's Now or Never! The lyrics from Bon Jovi's hit song say it all. This month's edition is all about understanding and taking advantage of opportunities now... before it's too late.
You've probably heard a lot about the $8,000 tax credit for first-time homebuyers. But did you know … (0 comments)
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loan information: Tax Credit Info - 06/10/09 01:15 PM
Man what a week (or three) in the real estate market.
To summarize:
Rates are up big (more on that later)
What's the deal with this tax credit??
Well as with anything the government gets involved in - confusion is sure to follow - as I have found in talking … (0 comments)
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loan information: Do's and Don'ts During the Loan Process (Your Credit Score Part 6) - 06/09/09 10:21 AM
Do's and Don'ts During the Loan Process
When you fill out a credit appli- cation, we run a credit report for the underwriter. Each lender and each loan program has different guidelines they must follow. You should not do anything that will have an adverse affect on your credit score while … (0 comments)
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loan information: Your Credit Score Part 5 Dealing with Credit Challenges - 06/08/09 11:23 AM
Dealing with Credit Challenges
Unfortunately, a person with a bad credit score is often in this position because he or she lacks the discipline to pay bills on time. Of course, there are exceptions where unforeseen circumstances come into play, such as health complications, or loss of employment. There are … (0 comments)
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loan information: Your Credit Score Part 4 Disputing Errors On the Credit Report - 06/05/09 12:05 PM
Disputing Errors On the Credit Report
If you are in the process of reviewing your credit reports, the first thing to do is make sure that the information contained within the reports is correct. In June 2004, The U.S. Public Interest Research Group published the results of a survey it conducted … (0 comments)
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loan information: Your Credit Score Part 3 How Does a Low Credit Score Affect My Interest Rate? - 06/04/09 08:56 AM
How Does a Low Credit Score Affect My Interest Rate?
Lenders estimate your ability to pay back money based on your credit score. The risk factor they take on is built-in to your interest rate as a financing fee. Therefore, a low credit score results in a higher interest rate, … (0 comments)
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loan information: Your Credit Score Part 2 The Five Factors of Credit Scoring - 06/03/09 02:23 PM
Why Your Credit Score is So Important
The credit scoring model seeks to quantify the likelihood of a consumer to pay off debt without being more than 90 days late at any time in the future. Credit scores can range between a low score of 350 and a high score … (0 comments)
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loan information: Your Credit Score- What It Means to You as a Prospective Home Buyer - 06/02/09 11:24 AM
Your Credit Score
What It Means to You as a Prospective Home Buyer.
Introduction
The subject of credit scoring has become an increasingly hot topic, and for good reason. For many years, the general public only associated the concept of credit scoring with the need to purchase high-ticket items such as … (0 comments)
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loan information: More on the IRS Tax Credit - 02/25/09 11:35 AM
A refundable first-time homebuyer tax credit of up to $8,000 is the centerpiece of four housing incentives found in the 2009 American Recovery and Reinvestment Act.
The new credit is designed to boost sales in the nation's sagging housing market. The impact will likely not be felt for at least three … (0 comments)
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loan information: American Recovery and Reinvestment Act of 2009 - 02/16/09 11:03 AM
Are you confused about the Stimulas package? The website below offers a good summary of each of the main points. Do you agree with the current changes? I would be curious to hear everyones thoughts?
H.R. 1, the "American Recovery and Reinvestment Act of 2009," passed the House on February 13, … (0 comments)
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loan information: How The Rising Cost Of Private Mortgage Insurance - 02/03/09 01:14 PM
Another day, another piece of evidence that "waiting for mortgage rates to fall" is a flawed financial strategy.
This time, we look at private mortgage insurance.
Versus last year, PMI defaults are up 40 percent and mortgage insurers are booking huge losses. In response, they're taking a page out of … (0 comments)
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loan information: Free online Mortgage Calculators - 02/02/09 07:35 PM
Mortgage Calculator Links
Fixed Rate Mortgage Calculator Use this calculator to determine your monthly payment and amortization schedule.Mortgage Points Calculator Should you buy points? Use this calculator to find out.15 vs. 30 Year Mortgage Calculator Use this calculator to compare these two mortgage terms, and let us … (0 comments)
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loan information: New Fannie Mae underwriting guidelines - 12/06/08 08:03 AM
During the weekend of December 13th, 2008 Fannie Mae will implement DU Version 7.1. This release will contain revised eligibility parameters and LTV's as described in Fannie Announcements 08-16 and 08-22. FAMC has previously released and implemented the majority of the policy/credit changes announced by Fannie Mae to date with the … (0 comments)
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loan information: New Help Coming for Mortgages Backed by Fannie, Freddie - 11/13/08 07:28 AM
By Kevin G. Hall
RISMEDIA, Nov. 13, 2008-(MCT)-The Bush administration on Tuesday announced another plan to modify what it thinks will be hundreds of thousands of distressed mortgages held or backed by mortgage finance giants Fannie Mae and Freddie Mac.
More than 15 months into a deep, nationwide housing slump, several … (0 comments)
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loan information: Market Update - 10/16/08 12:27 PM
At the moment, Mortgage Bonds are trading just slightly lower as Stocks try to rebound from yesterday's sharp losses. The selloff may have been triggered by Chairman Bernanke's talk, which painted a slow economic recovery and repair of the credit markets. Stock Traders were groping for a more hopeful message from … (0 comments)
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loan information: How To Plan Ahead For The New, Lower Conforming Mortgage Loan Limits in 2009 - 09/24/08 07:45 AM
How To Plan Ahead For The New, Lower Conforming Mortgage Loan Limits in 2009
Conforming mortgages are limited by loan size, based on average housing costs around the country. Since 1980, as home prices have increased, so have conforming loan limits.
The current conforming loan limit on a single-family home … (0 comments)
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loan information: Paying off your mortgage early - 09/17/08 02:40 PM
Evaluate whether prepaying is right for you. In the short term think of prepaying your loan as investing, but investing in a large, illiquid asset. That is, you must sell the house to get the money out again. If you have a low interest rate and you are making good … (0 comments)
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loan information: Irs tax Credit - 09/16/08 12:11 PM
IR-2008-106, Sept. 16, 2008
WASHINGTON - First-time homebuyers should begin planning now to take advantage of a new tax credit included in the recently enacted Housing and Economic Recovery Act of 2008.
Available for a limited time only, the credit:
Applies to home purchases after April 8, 2008, and before July … (0 comments)
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loan information: The 7 most important questions to ask your loan agent before starting the mortgage process - 08/28/08 11:17 AM
The 7 most important questions to ask your loan agent before starting the mortgage process
I advocate spending 20 minutes on the phone interviewing the loan originators you are considering working with. I recommend avoiding specifics about rates and programs; instead I believe you should use the time to get … (1 comments)
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