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

Mortgage and Lending - Guaranteed Rate - NMLS #151088



The FHA 203(k) maximum loan amount is the lesser of: Purchase price (or “as is” value for refinances) plus rehabilitation costs OR 110% of “After Improved” valueTIMES The LTV factor (96.5% for a purchase) or less the allowable down payment ($100) for a HUD REO Property NOT TO EXCEED Maximum count...
Flood insurance changes are coming to metro Atlanta counties.  In the wake of severe flooding in the last few years, area flood maps may be re-drawn.  The Georgia Department of Natural Resources is presently working closely with Federal Emergency Management Agency (FEMA) to assess possible change...
Is the end of Private Mortgage Insurance for conventional mortgages near?  The question begs to be answered after recent events of the last few weeks.  On Friday, the New York Stock Exchange delisted The PMI Group, Inc.  Later in the day, they were informed that August 19, 2011 was their last day...
Why do lenders prefer a short sale over a foreclosure is a common question asked by buyers and sellers.  The reason all comes down to money.  Any home owner that does a short sale or has a property go into foreclosure ends up costing their mortgage company a lot of money.  When a seller does a sh...
A home sale is classified as a "Short Sale" whenever it is sold for less than the amount owned on the mortgage and the mortgage lender accepts less than the full amount due on the outstanding balance.  The seller must meet several criteria in order to qualify for a short sale?  Some of those incl...
According to a recent article from HousingWire, completed HAFA Short Sales have now surpassed 10,000 closings.  Since the Home Affordable Foreclosure Alternatives (HAFA) program was launched in April 2010, mortgage servicers have now completed 10,438 HAFA short sales through the end of June 2011....
Today 's market was once again a wild ride.  The Federal Open Market Committee (FOMC) released a statement Wednesday afternoon that sent Treasuries and mortgages rallying.  There was no change in overnight rates though.  The committee said state that it would keep short term rates at these levels...
The US Department of Agriculture has plenty of funds left for Fiscal Year 2011.  The below announcement was released last week by the department.   August 4, 2011   GUARANTEED LOAN FUNDING UPDATE:    OVER $11.2 BILLION DOLLARS AVAILABLE FOR GUARANTEED LOANS!   The Single Family Housing Guaranteed...
For buyers using the GA Dream Down Payment Assistance program, there are a variety of underwriting guidelines that the borrower must meet.  Two of those are credit score and debt to income ratio (DTI).  Like every mortgage loan program, GA Dream has a minimum credit score for each borrower.  They...
GA Dream Hazard Insurance for Coastal Areas of Georgia All Georgia Dream Loans must contain a home owner’s deductible clause less than or equal to $1,000. For properties located in coastal areas of Georgia, there is a new/additional Hazard Insurance guideline: Wind and Hail Coverage in Coastal Ar...

Rodney Mason

Licensed in AL, FL, GA, SC, & TN
Ask me a question
Spam prevention

Additional Information