fha 203k streamline: HomePath Quick Reference Guide - 06/10/11 08:44 AM
This is the 5th installment of the Loan Program Quick Reference Guide and today I am focusing on the HomePath loan.  Monday I gave you the rundown on the standard FHA loan.  Tuesday it was the VA.  Wednesday I highlighted conventional loans and yesterday the spotlight was on the FHA 203(k) Streamline loan.  The HomePath is a good loan but it is very limited since it can only be used on FNMA-owned homes that are designated for the HomePath.  Here are the highlights:
HomePath Mortgage allows a borrower to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage … (2 comments)

fha 203k streamline: FHA 203(k) Streamline Quick Reference Guide - 06/09/11 11:29 AM
Good morning - This is part for in the "Quick Reference Guide Series" that I started writing on Monday.  I have already covered FHA, VA, and Conventional loans with regard to general guidelines and the benefits to the home buyer.  In today's post, I will be covering my favorite loan, the FHA 203(k) Streamline.  The FHA 203(k) Streamline is a very under-utilized loan program and yet it helps the buyer get a home that ends up being much closer to the home they really want than any turn-key home they could buy.  It also makes it possible to write offers on … (2 comments)

fha 203k streamline: What drives you to be better? - 05/04/11 07:39 AM
I was on my morning bike ride and I was riding great.  Over the last couple of weeks I've noticed a fairly significant improvement in my average miles-per-hour while I've also noticed that my average heart rate has decreased somewhat significantly as well.  All of a sudden I'm riding about 1.5 miles per hour faster - and plan to improve that as well - and my Average HBM (heartbeats per minute) is about 7-10% lower than what it was just a few weeks ago.  The change?  I started cross training by running on the treadmill and doing the eliptical 2-3 nights … (0 comments)

fha 203k streamline: You are missing the boat if you aren't partnering with a lender who can help your clients take advantage of the FHA 203(k) Streamline loan - 05/04/11 05:41 AM
If you haven't found a good lender who offers the FHA 203(k) Streamline loan, then you are missing out on a fantastic niche.  You may have read a recent post I wrote about two FHA 203(k) Streamline closings I had last Friday.  I closed one in 25 days and the other in 21 days.  This is very fast for any loan but especially for the FHA 203(k) Streamline.  More importantly is how excited both of the clients were.  Most people are generally excited about closing on their home and moving in but these clients were so much more excited - I … (1 comments)

fha 203k streamline: 75% of closings are late and taking longer than 30 days? - 05/03/11 04:52 AM
I met with the branch manager of a title company here in Vegas last week and she asked me how fast we were closing our loans.  I told her that we are closing them in 30 days or less and that we just closed two FHA 203(k) Streamline loans in 21 and 25 days - she was amazed.  She then proceeded to share with me that she just performed a comprehensive review of all of their files they closed over the last three months and she said that 75% of them closed let with an average closing time of 45 days.
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fha 203k streamline: Just Closed Two FHA 203(k) Streamlines in 25 Days or Less... - 04/30/11 04:10 AM
What a month!!  I funded three loans yesterday, two of which were FHA 203(k) Streamline loans.  FHA 203(k) Streamline loans should typically take about 35-40 days because of the extra time spent getting the bid from the contractor and the added underwriting and conditions that part of the process brings.  However, we started one of the loans on April 4th and the other loan was submitted on April 8th - this means that we closed this FHA 203(k) Streamline in 21 days.  Of course the clients are happy as can be and the contractor - we have a contractor who is … (0 comments)

fha 203k streamline: FNMA Paying Bonuses to Realtors and Closings Costs to Buyers and other stuff... - 04/13/11 04:28 AM
Good morning!!  I was just on the FNMA Homepath site and found that there are 2,293 homepath homes in Clark County, NV (Las Vegas area).  For transactions that close by June 30th, FNMA is offering to pay 3.5% in closing costs AND a $500 bonus to the Realtor.  That's a win-win; unfortunately there are no bonuses for the lender other than we have to put up with quirky underwriting guidelines.  Go sell those Homepath homes.
I am currently working on two FHA 203(k) Streamline loans for clients who are going to end up with houses that were in the neighborhoods they … (0 comments)

fha 203k streamline: Three Solutions to Three Problems Realtors Face - 04/07/11 03:31 AM
There are lots of problems, challenges, issues or whatever you want to call them in our industry today and they are plentiful for Realtors and loan officers alike.  Here are some solutions for a few of the problems that Realtors face and in many cases, these aren't just solutions for specific problems but also a way to generate more business.
Problem1:  The house my client is buying doesn't have appliances and to make matters worse, they would have to put the purchases on their credit card.
Solution:  If your client is using an FHA loan, they can piggyback the Energy Efficient … (2 comments)

 
Jed Wunderli (Alterra Home Loans)

Jed Wunderli

Las Vegas, NV

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Alterra Home Loans

Address: 2520 St. Rose Parkway #205, Henderson, NV, 89074

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