Sue's Blog

Mortgage and Lending - Waterstone Mortgage Corporation
This was sent to us by Eric Egenhoefer, President of Waterstone Mortgage Corporation: FHA tomorrow will announce a series of changes designed to protect the federal agency that has emerged as the cornerstone of the mortgage market as the housing sector wobbles toward recovery.    On the whole, mo...
Here is a video that gives some important information about this credit, information that I hadn't really thought about until recently. Because I know that I hadn't thought about it, I feel it very important to share this information with any and all potential buyers - they really don't have much...
I am being interviewed for a podcast that will be on iTunes this coming week and the subject is "What Makes a Loan Officer a Success".  Having pondered this, I have concluded that two traits are needed: knowledge and involvement. While trying not to appear demeaning, all of us can market, learn t...
I have been getting a LOT of calls about financing condos in our area and throughout the Southeast.  At this point, we have been told that if any of the following are present, the project is considered a "condotel":  If an underwriter can Google the name of the project and the city and finds that...
On Monday, April 20, USDA Rural Housing income limits were increased.  Here are our local limits and, if you are located elsewhere, just email me and I can tell you the limits in your area.  Okaloosa County:  If there are 1-4 persons in the household, maximum income is $76,250 and if there are 5-...
USDA Rural Development has confirmed that the proposed change in the income limit structure for the USDA Guranteed Rural Housing Program will be implemented as planned on April 20th!  This will allow a lot more people to qualify for one of the only 100% financing programs left, and certainly one ...
I attended a class the other day called "10 Things to Ask Your Buyers Before Taking Them House/Condo Hunting" and will be addressing those issues in an upcoming blog entry but wanted to put together a list of what can kill a deal for a buyer or a seller.  Please feel free to share this informatio...
I wanted to share the response I received from someone at USDA today on the increase in the income limits.  It still sounds very promising!   Here is my ‘canned' response sent to all inquirers.  If it happens (we're very optimistic), it will be incorporated at the same time as our regular annual ...
Today may be the day that the American Recovery and Reinvestment Act of 2009 (aka the Stimulus Package) is passed; the Senate is voting on it right now.  It is anticipated that it will be on President Obama's desk to sign into law this weekend.  While we don't have all of the information about th...
Over the last 18 months, since August, 2007, mortgage guidelines have been tightening due to the conditions of the industry.  It seemed that every day since then we have gotten updates from Fannie Mae, HUD, Freddie Mac and our individual investors that made mortgage lending a little tougher, albe...

Sue Botelho

USDA Rural Housing Mortgage Pro
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