fha real estate loan: READ THIS Credit Score Requirements C-H-A-N-G-I-N-G!
- 01/23/09 08:01 AM
This post by Eleanor Thorne has to do with minimum credit scores that she has to deal with specific to her lenders. However, it is the case that this is happening industry wide. There will be fewer and fewer loans available, if at all, for lower credit score borrowers. There are ways to increase your credit score, but don't fall for the shysters that are out there just to take your money. As per normal, I have disabled comments on this blog. If you would like to make a comment, please do it on Eleanor's blog post, she wrote it.
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fha real estate loan: How to Get Your 4.5% Mortgage!
- 12/05/08 05:05 PM
Eleanor know of what she speaks. If rates do drop to 4.5%, you will need to be in the place where you can take advantage of that rate drop. To do that, you really need to have an application in process. Call me today and let's get it going. I have disabled comments on this post. Please visit Eleanor's post if you wish to comment.
I can not tell you how many people have told me TODAY that they heard rates are going to 4.5%!!! From your mouth to God's Ears! As I write this, rates are close to 5.0%... … (0 comments)
fha real estate loan: FHA Mortgage vs. Conventional Mortgage Which is Best and Why?
- 11/24/08 05:06 AM
There has been discussion on the blogs about why FHA loans are coming to prominence, but I haven't seen a side by side comparison, so I thought it was about time that we did that. FHA Mortgage Loan vs. a Conventional Mortgage Loan with a limited down payment. How do they compare? First, the assumptions, you can't make a comparison without knowing what the parameters are. Needless to say, these are arbitrary, but fair to both types of loans. I am also going into this without knowing the result, just knowing my product. Here they are: FHA Conventional Purchase Price … (8 comments)
fha real estate loan: HOPE for Home Owners, HUD Fact sheet on new program
- 08/13/08 06:59 AM
HUD/FHA/Housing Bill of 2008. FHA Real Estate loans change with new guidelines. HUD has released a fact sheet about the HOPE for Home Owners program contained in the recently signed housing bill. The comments in blue or underlined are mine. I hope this all makes sense, but sometimes it is hard to make sense of government speak. The President has signed into law legislation that will allow HUD's Federal Housing Administration (FHA) to continue providing targeted mortgage assistance to homeowners. The Hope for Homeowners program will continue FHA's existing and successful efforts to provide aid to struggling families trapped in mortgages they … (17 comments)
fha real estate loan: HAPpy SHOPing, two great programs to help low-moderate income home buyers
- 08/04/08 05:34 AM
In the City of Eugene, it is called HAP. In the City of Springfield, it is called SHOP. Both of them are programs to help low to moderate income purchasers get into their first home. The State of Oregon operates a similiar program called PAL for outside of Eugene/Springfield but it is out of money, again. Outside the Eugene/Springfield urban growth boundry, the USDA Farm Home Economic Development loans are available to 100% financing. Eugene HAP, homeowner assistance program, and the Springfield home ownership program, are designed to help first time home buyers with the down payment and closing costs in their purchase. … (6 comments)
fha real estate loan: NEDCO - Assistance for the Home Owner and prospective Home Owner, or how to save your house!
- 08/03/08 09:23 AM
NEDCO, Neighborhood Economic Development Corporation, in Eugene and Salem is a non-profit Community Development Corporation that helps neighborhoods and families. NEDCO is a HUD Approved Housing Counseling Agency and has help hundreds of people prepare for home ownership. The Springfield Home Ownership Program and the Eugene Homeowner Assistance Program both require counseling and training prior to receiving one of their no interest loans. I have had my clients attend the course and come away much more prepared for the huge step of purchasing a home. The program they offer is called the "ABC's of Homebuying." It is a one day class designed to help understand … (8 comments)
fha real estate loan: DOWN PAYMENT ASSISTANCE MAY SURVIVE!
- 08/02/08 02:48 AM
I got this e-mail this morning: August 1, 2008 Last night, Congress introduced bipartisan legislation, H.R. 6694 that would reauthorize and reform charitable downpayment assistance. This bill would remedy a harmful provision in the new housing law which limits homeownership opportunities for low and middle-income Americans. The legislation, sponsored by U.S. Reps. Al Green (D-TX), Gary Miller (R-CA), Maxine Waters (D-CA), and Christopher Shays (R-CT) reauthorizes and reforms charitable downpayment assistance funded in part by sellers, which has helped over one million families and individuals become homeowners since 1999. The program was eliminated by legislation signed by President Bush on July … (16 comments)
fha real estate loan: FHA Secure/FHA HOPE
- 08/01/08 04:58 AM
My friend Paul Dunn, a superior, knowlegable and informed loan originator in Phoenix, has a blog post that explains the new FHA HOPE. I have also received various different explanations. One of the most recent is from the National Association of Realtors. It says: FHA foreclosure rescue - development of a refinance program for homebuyers with problematic subprime loans. Lenders would write down qualified mortgages to 85% of the current appraised value and qualified borrowers would get a new FHA 30-year fixed mortgage at 90% of appraised value. Borrowers would have to share 50% of all future appreciation with FHA. The … (16 comments)
fha real estate loan: Wonderful Panacea FHA Secure
- 07/30/08 05:17 AM
I have been reading everything I can find about the new housing bill and trying to find out what everything means. How are we going to help all of these people that are upside down in their homes because of falling real estate values? How do we get them into so much better program because of unscrupulous lenders? How do we help them make their payments when they can't now because the rate just went up when their ARM reset? The answer seems to be FHA Secure. The end all, cure all of the Real Estate world. Tie it in with … (7 comments)
fha real estate loan: The Other Guy's Game
- 07/27/08 03:35 AM
There certainly aren't any of the people reading this posting that has ever spent any time in a bar talking and drinking with the patrons. Since I grew up watching, picking up and waiting for my father in several, I have some experience in the bar mentality phenomenon. It is really amazing the things that you can see when you are alert and not fogged while spending your time in the local watering hole. Of course, sometimes there are things to be said for not noticing what is going on too. One of the first things that I learned at my … (3 comments)
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This post by Eleanor Thorne has to do with minimum credit scores that she has to deal with specific to her lenders. However, it is the case that this is happening industry wide. There will be fewer and fewer loans available, if at all, for lower credit score borrowers. There are ways to increase your credit score, but don't fall for the shysters that are out there just to take your money. As per normal, I have disabled comments on this blog. If you would like to make a comment, please do it on Eleanor's blog post, she wrote it.
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