Mortgage Update

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Mortgage and Lending - LX Financial LLC
Mortgage Update - Mortgage financing news and topics, and meaningful advice for real estate professionals and consumers.

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2009 

Mortgage applications for home purchases have fallen to the lowest level in 12 years. The Nov 30 deadline for tax credit deals caused an increase in applications through mid-October, followed by a remarkable decrease since of course, but the housing market is still facing major hurdles. /// Both ...
11/21/2009
Fannie Mae is again raising lending criteria:  DTI to 45%, Fixo to 620, financing 5 years following foreclosure with 680 Fico, higher PMI requirements, 75% ltv max for 2-unit+ investment property, higher reserves, the official retirement of construction-to-permanent financing!, and more. /// Fann...
11/16/2009
Home buyer tax credits have been extended and improved! Up to $8,000 for qualified first-time home buyers purchasing a principal residence is available. And up to $6,500 for qualified repeat home buyers. Details. Make it a good week folks! - Paul   What will your business look like in 12 months f...
11/07/2009
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Paul Luykx

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Mortgage financing news and topics, and meaningful advice for real estate professionals and consumers.