Joe LaVallie's (joelava) Blog

The FHA program has helped buyers since 1934 and we need to make sure it is around for the next generation of home buyers. The problem with FHA right now is delinquencies. There are numerous reports about the actual delinquency rate but one thing we know for sure is that it is higher than it shou...

When a Realtor lists a property, they also list the type of financing that is available to purchase the property. Knowing the minimum FHA financing standards will help you quickly and accurately assess if the property will meet the minimum FHA standards. If you have any questions about the minimu...

Do you have a FHA loan that you want to do a streamline refinance and it was endorsed prior to June 1st 2009? Lucky you. Your mortgage insurance premiums are "grandfather" and you will pay a reduced rate for both upfront and annual premiums. If you have any questions about a FHA streamline refina...

One of the best highlights of the FHA streamline refinance is that it is easy to qualify for. In general you don't need to verify your employment, credit history, and value of home. Some lenders have overlays that add some condition to the approval but this is one of the easiest loans to qualify ...

One of the most popular refinance programs last year was the FHA streamline refinance program. If you currently have a FHA mortgage there is a special mortgage program for you. With most lenders this program does not require verification or very limited verification of income and assets. Most of ...

Do you have a VA loan with a high interest rate? The VA streamline refinance is your best option. The VA streamline loan is known as an Interest Rate Reduction Refinance Loan (IRRL) for short. If you have any questions about a VA refinance loan please contact me. To qualify for a VA loan you must...

Refinancing still make sense for many owners. The last quarter of 2012 was a good time to refinance but rates are still near their all-time lows. On average owners are reducing their mortgage payments by over 25 percent. The average rate that was refinanced was just over 5 percent and just over 5...

Some markets are experiencing multiple offers that are moving home prices higher. Demand for houses continues to increase as the supply of houses shrinks in some markets. In these areas the price of homes is increasing and creating urgency among buyers before prices move even higher. If you have ...

We are all playing the credit game and we don't know the rules because the rules are kept secret. Most of us assume that paying our bills on time will give us a good credit score. That is mostly true but there is more to the story. Approximately 35% of your credit score is determined by making yo...

Look into the crystal ball and tell me if rates will be under or over 4% for 2013. Most experts expect rates to remain below 4% for 2013 but to start rising the second half of the year. The housing market is recovering. New home construction is rebounding, the sale of existing homes is up, and th...