mortgage: VA Lowers Guaranty Limits in High Cost Counties
- 01/03/12 07:29 AM
VA Lowers Guaranty Limits in High Cost Counties for 2012 The VA lowered the maximum amount they will guarantee from 25% of as much as $1,094,625 to 25% of a maximum of $625,500 for all counties considered "high cost" for 2012. The VA does not limit the size of the loan for eligible veterans, but will only guaranty 25% of their limit for a given county. VA borrowers will have lower loan amounts that they will qualify for 100% financing in the high cost counties. The loan guaranty limit for counties not considered "high cost" will remain at 25% of $417,000. 2012 VA County … (1 comments)
mortgage: FHA's Holiday Gift to Investors and Home Buyers
- 12/23/11 05:33 AM
FHA's Holiday Gift to Investors and Home Buyers In an effort to stabilize home values, the FHA announced the extension their anti-flipping regulations until December 31, 2012 in FHA press release No. 11-292. This is great news for legitimate investors and home buyers. Normally the FHA prohibits insuring a mortgage on a home owned by a seller for less than 90 days, but waived this regulation under certain circumstances back in 2010 through the end of 2011. Investors who rehab homes quickly benefit, because buyers can qualify for FHA loans to purchase these properties. Home buyers benefit because it allows financing for HUD-owned … (2 comments)
mortgage: Breaking News - the VA has Raised their Loan Limits for Calculating the Maximum VA Guarantee
- 03/10/11 04:19 AM
Breaking News - the Veteran's Administration has raised their loan limits for calculating the maximum VA guarantee amount for many counties throughout the country including many in the Maryland, DC, Virginia areas! The Veteran's administration has raised their loan limits approximately $25,000.00 to $30,000.00 for many counties across the country through September 30, 2011. See the attached link for details on the limits for specific counties. 2011 VA County Loan Limits Please call me at 301-325-6399 for more information regarding VA loans. … (0 comments)
mortgage: FHA to Raise Monthly Mortgage Premiums Again
- 02/16/11 07:40 AM
FHA to Raise Monthly Mortgage Premiums Again For all FHA case numbers assigned on or after April 18, 2011, FHA will be raising the Monthly Mortgage Premium (MMP) 25 basis points (0.25). For mortgages with terms greater than 15 years if the LTV is ≤ 95%, the MMP is currently 85 basis points and will rise to 110 basis points, if the LTV is > 95% the MMP is currently 90 basis points and will rise to 115 basis points.For mortgages with terms ≤ 15 years, currently there is no MMP for loans with the LTV ≤ 90% and will rise to .25 … (0 comments)
VA Lowers Guaranty Limits in High Cost Counties for 2012
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