lending: FHA & VA Assumptions - 07/19/13 01:31 AM
FHA & VA Assumptions - 7/19/2013 
Not many buyers have assumed a mortgage in the past 25 years. Most people think it was because FHA and VA in the late 80’s began to require that buyers qualify for the assumptions. Not having to qualify for a mortgage would certainly benefit certain buyers. 
If a homeowner must qualify for an assumption like a new loan, they'll generally choose the mortgage with the lower interest rate.  Over the past 25 years, rates have been trending down but it appears that rates have bottomed out and will gradually increase.   As they continue to rise, the lower rates on the … (0 comments)

lending: Revisiting zero-down lending - 09/01/09 11:07 AM
Zero Down!!!  Buy! Buy! Buy!
Amongst the firestorm of the market collapse and lending rules buying houses with zero-down money seemed to be one of the main punching bags for many people.  Heck, it was for me.  How many Realtors have said this line, "Conventional and FHA loans haven't changed much over the last few years it's the zero-down, no income, high ratio, NINA loans that have caused this problem."  And yes, that statement is true, partially, however lets look closer at the "zero-down" part.
Last week at the NAR Leadership Summit I found it very interesting to see a report about … (2 comments)