Julie Oliver's (govhomeloans) Blog

Mortgage and Lending
Pre Qualifcation verses Pre Approval    Pre-qualification involves talking to a loan officer either in person or over the phone. Try to stay away from cyber space loan officers.  The internet can be a valuable tool when shopping for a mortgage, but be extra careful when utilizing this source.  Ma...
The media is in the process of predicting mortgage rates going below 4.5%.  I have fielded tons of phone calls from my customers asking if this is true.  I have no idea.  Rates do seem to be coming down, but will they go below 4.5%?  I don't know.   My suggestion is:  If current rates of 4.75%-5....
As of October 1, 2008 FHA will prohibit the use of seller funded down payment assistance programs. This means that a buyer getting an FHA loan would need a 3.5% down payment.  FHA will still allow CNE 2nd mortgages and Georgia Dream 2nd mortgages to help buyers get into the home with -0- down.  A...
Do you have concerns about financing for your buyers?  I will work my magic to help your customers get the mortgage they need, with less hassle for you and them. Call me, your Loan Wizard, to find out how. Borrowers can purchase for little or no money down. Down Payment assistance programs can be...
Down Payment Assistance is Not Dead With the demand for FHA loans increasing significantly in recent months, As the subprime mortgage crisis has created a void for certain borrowers.  FHA loans have once again became en vogue for borrowers with lower credit scores and who lack sufficient down pay...
FHA Loans....How Do They Work?  Recently the most common financing for first time homebuyers is a FHA loan. With the demand for low down payment mortgages many borrowers are exploring this government resource.  FHA loans are not limited to first time homebuyers.FHA loans were instituted in 1937. ...
Things are changing once again in the market.  People that are waiting to purchase or refinance in the hopes of rate improvement may be in for a rude awakening.  Usually by the time the Feds decide on what figures  the reduction in rates will be, the market has already been reducing rates for wee...

Julie Oliver

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