Will Steneman's (happymortgage) Blog

HUD’s 203K REHAB LOANS – an Fha product The Fha 203K offers consumers the ability to purchase and renovate a house with just one settlement. This simplifies the traditional construction process, which many times involves two loan closings, high fees and balloon loan payments hat can be called at...

      HVCC continues to frustrate lenders and consumers   Getting value has become a crap shoot.... ========== Our wonderful federal government, through new HVCC appraisal guidelines has made sure that if you want to know what your house would appraise for you may spend between $375 and $650.00 -...

Ken Cook offers solid advice for all buyers and realtor's to understand regarding FHA rumors and myths. Changes always make for great conversation. Just a few years ago that conversation was relatively limited in reach to inner office or group communication. With the advent and proliferation of t...

Sound advice from Active Rain legend - Jeff Belonger - The FHA Expert  When is it a good time to buy a home? Important interest rate info below. Please read ...     First time homebuyers have been blessed with low mortgage interest rates and the first time homebuyer tax credit.  We have heard so ...

    What am I doing here???   So here I sit for the fourth and final day of the new Federally Mandated national mortgage training class. And after four days of class noticing the incompetence that is still within our industry I am shocked. The question keeps popping into my head, “What am I doing...

Is that a glimmer of light?   Don’t give up hope. We are starting to see some small signs of life in the secondary market and that could be a good thing. We need Alt A, sub-prime and other loan options for the consumer to make a return It’s a viable part of the market if done right. You see not ...

  Is that really best for the client?   It is understood that loan officers, realtors and everyone else that benefits when a loan closes wants to see the fruits of their work in the form of a paycheck. But at what expense are people willing to risk making that almighty dollar. Lending guidelines...

  How solid is a loan commitment?   There are many schools of thought regarding what an actual "approval", " pre approval", "loan commitment" and tons of other similar terms mean to a borrower. Many times loan officers and realtors alike put on blinders when looking for that magical pre approval ...