Fannie Mae has announced some changes to their conventional lending guidelines, effective immediately. This is a welcome announcement as the changes make underwriting guidelines more clear, and in some cases more lenient. They also improve pricing for certain borrowers. Have you had buyers turned down over the past 6-12 months because of these guidelines? If so, it's time to pick up the phone and see if they can qualify for a new home loan.
Keep in mind, these are Fannie Mae changes, and not lender-specific changes. That means if your lender … (1 comments)
first time home buyer virginia: Home Buying: Utility Expenses - Good or a Bad idea to ask/learn!
- 02/13/16 11:32 PM
If you are a first time home buyers in the Northern Virginia area and moving from living life at your parents house or an apartment you have no clue what it cost to heat and cool the home. As a first time home buyers or as any home buyers should you ask for the average cost of the utilities to the home sellers? As a home seller in the Northern Virginia area of Fairfax & Loudoun county is it a good or a bad idea to share your monthly utility bills?
From a home buyer's perspective, it can helpful for you to understand what is … (1 comments)
first time home buyer virginia: The 5 Biggest Mortgage Misconceptions
- 10/08/14 07:59 PM
Lending industry has gone through many dramatic changes in the past few years. And this has create misconception on what still holds true. If you are thinking of buying a home in Northern Virginia area, this will help you clear some of the known/unknown factors in the real estate mortgage industry. The 5 Biggest Mortgage Misconceptions
When it comes to getting a mortgage, much of what you hear is true. Underwriting is a bit tougher than it was 6 years ago. There's added potential for snags in the process that can cause delays. Sometimes, satisfying investor requirements is akin … (1 comments)
first time home buyer virginia: Found Bugs/Termites? What are buyers option when purchasing a home in Northern Virginia?
- 01/10/14 10:00 PM
Q- What is W.D.I. Certificate ? Whether it is a FHA/VA or Convention loan program lender will requires a Wood Destroying Insect Infestation Report (W.D.I) also commonly known as "Termite certificate" that is less than 30 days old from the date of closing. Q- Why inspection is required? The reason inspection is required to ensure the structure of the property is in good condition prior to loaning you the loan. Lender will not clear the loan for closing if clear certificate is not received prior to closing. Q- Who can conduct the inspection? Lenders requires inspection to be done by a … (3 comments)
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New Fannie Mae (Conventional) Guidelines
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