Rodney Mason - Conv, FHA, VA, USDA, Renovation

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Mortgage and Lending - Guaranteed Rate - NMLS #151088

ARCHIVED BLOG POSTS

2011 

The correct answer to this question would be that "it depends".  In some instances, an FHA 203K Renovation mortgage can be used to satisfy health or safety issues.  The FHA 203K Streamline loan allows for an initial disbursement of 50% of the repair costs.  As long as this initial 50% disbursemen...
02/27/2011
The US Department of Housing and Development has released its FHA 203K Endorsement Report.  It is for the Fiscal Year ending September 30, 2010.  In the period of October 1, 2009 - September 30, 2010, HUD ranks Prospect Mortgage as the #2 volume FHA 203K lender in the country.  For the 2010 Fisca...
02/27/2011
The new Pinkberry in Buckhead is celebrating their grand opening on Thursday, March 3rd.  For the occasion, they are giving away free yogurt that day.  Pinkberry flavors include: Original Blood Orange (seasonal) Chocolate (seasonal) Coconut (seasonal) Mango (seasonal) Pomegranate (seasonal) Stop ...
02/22/2011
Why do some Loan Officers give out estimates with incorrect fees? This could be the million dollar question.  Even with the new GFE that took effect on January 1, 2010, I have still seen very inaccurate estimates from time to time.  I recently saw one where several fees that were inaccurate.  Las...
02/20/2011
LEGOLAND Discovery Center has announced plans for a Phipps Plaza location in Atlanta.  The 32,000 square foot attraction is slated to open in March 2012.  It will join mall anchors Saks Fifth Avenue, Nordstom, and Belk.  The upscale mall is also home to high end retailers Barney's New York CO-OP,...
02/20/2011
On February 14, 2011, HUD announced that it will adjust its FHA Mortgage Insurance Premiums effective April 18, 2011.  This change is outlined in HUD Mortgage Letter 11-10.  It will increase monthly premiums by 25 basis points on that day.  In order to obtain the lower MI premium, the FHA Case nu...
02/14/2011
When can I get my draw funds disbursed on my FHA 203K Consultant mortgage?  This is one very critical question that most borrowers fail to think about and ask upfront.  When doing an FHA 203K Consultant Renovation mortgage, one very important aspect that many fail to consider is the draw process....
02/13/2011
Today I hit 170,000 points.  That now leaves me just 30,000 point short of hitting the 200,000 milestone.  I joined ActiveRain in November 2008.  It took me until last September just to reach the 100,000 mark.  Of course, I did not log in, post, or comment very regularly.  Now, in just 5 short mo...
02/13/2011
When can I get my draw funds disbursed on my FHA 203K Streamline mortgage?  This is one very critical question that most borrowers fail to think about and ask upfront.  When doing an FHA 203K Streamline Renovation mortgage, one very important aspect that many fail to consider is the draw process....
02/13/2011
FHA Program Basics Separate the Fact From the Fiction - The Real Story on FHA Seller Concession Limitations FHA Minimum Down Payment Increases to 3.5% on Jan 1st   FHA 203K Guideline FAQ - Appraisals (Also see Property Conditions)     FHA 203K Guideline FAQ   FHA 203K Guideline FAQ - HUD Homes Bu...
02/13/2011
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Rodney Mason

Licensed in AL, FL, GA, SC, & TN
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