A few days ago, I wrote about the assumability feature for FHA loans. Another program feature that has not been discussed much over the past few years is the adjustable rate mortgage. With rates near all-time lows, it may not make sense for most borrowers to choose an ARM. However, if you plan on...
If asked, how many real estate professionals could tell you that FHA 203(b) loans can be assumed by an owner-occupied creditworthy buyer? I bet that if a survey was taken today within the real estate community, you would be surprised to learn how many have no idea about this assumability feature....
In the fall of this year, all eyes were on our industry and the last push to close loans under the First-Time Homebuyer Tax Credit (extension deadline: September 30, 2010). Like many of you, I took a deep breath after my last closing and moved forward. However, I let the provision for veterans an...
It has been a tough couple of years for most folks in this country, as reflected in the day-to-day questions that I field from potential customers and agents. I thought I would put down a few of those questions along with the answers for review and discussion. 1.How long after a Chapter 7 bankrup...
Most 203(k) loans start as 203(k) loans but not all. This weekend, I had a conventional deal in Denver run into an issue with the roof and the HVAC system. The appraiser identified a possible issue with the roof, so a roofing specialist was sent out to review it. The tile roof was beginning to cr...

Dustan Shepherd

Vice President of Renovation Lending
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