housing market: Seller Funded DPA on FHA... Friday 8/29 is the last day to find a property!
- 08/26/08 10:32 AM
As of today, we only have 2 investors left that we can still lock loan with that are getting the 3% downpayment paid for by the seller. One of these investors says the loan must be locked by this Friday 8/29 & the other investors says it just must be registered (with a property address) by this Friday 8/29. Any buyer that is already pre-approved needing to get their 3% FHA from the seller needs to act quickly or they will have to come up with the downpayment themselves or get it as a gift from someone. The elimination of the DPA … (2 comments)
housing market: How the Housing & Economic Recovery Act of 2008 Impacts the Fort Wayne Housing Market
- 08/01/08 11:51 AM
I have just had an opportunity to review a summary of the new housing bill that was put together by the Mortgage Bankers Association. It appears that we will still be able to utilize the Down Payment Assistance (DPA) programs for all loans "credit approved" prior to 10/1/2008. So now we know our window of time is 60 days. It is very important to get this word out to potential buyers, especially if they are already pre-approved using a DPA! I see this as a HUGE opportunity for us to create a sense of urgency and get some buyers off the … (5905 comments)
Mortgage, Real Estate, First Time Homebuyer, FHA, VA, Conventional, Industry Updates, short sale, forclosure, pre-forclosure, jumbo, MCC, Community Connections, Tax information
As of today, we only have 2 investors left that we can still lock loan with that are getting the 3% downpayment paid for by the seller. One of these investors says the loan must be locked by this Friday 8/29 & the other investors says it just must be registered (with a property address) by this Friday 8/29.
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