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FHA's Holiday Gift to Investors and Home Buyers

Mortgage and Lending with Embrace Home Loans, Inc.

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 or other government owned properties, bank-owned properties and properties resold privately.  Lenders and Real Estate Agents benefit because they will be able to help more people buy affordable homes.

At Embrace we are able to and have helped borrowers with credit scores as low as to 540 purchase homes with FHA loans.  We also provide financing for investors for up to ten (10) financed properties per Fannie Mae guidelines.  Most lenders still have overlays allowing investors only four financed properties.

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FHA loans for owner-occupied purchases to scores as low as 540.
FHA Streamline refinances down to 580 credit scores.

Conventional loans for up to 10 financed properties for qualified investors.
Homepath financing available.
Fannie Mae Refi Plus and Freddie Mac Open Access.

Maryland CDA and DSELP loans available to qualified homebuyers.

Let us help you buy your dream home.

Bill Rozek, Senior Loan Officer     NMLS # 214260
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Embrace Home Loans, Inc. is a Licensed Mortgage Lender in AR, CO, CT, DC, DE, FL, IA, ID, IN(#10918 & 6034), KY, LA, MD, ME, MI, MN, NC, ND, NM, OH, OK, OR #ML3228, RI, SC,TN, TX; In Texas, most recent mortgage must be at least 12 months old; UT, WI; Authorized to do business in AL #MC20954, Licensed Mortgage Banker in AZ #0906375), Licensed by the Department of Corporations under the CA Residential Mortgage Lending Act. CO Residents; To check the status of your mortgage broker, http://www.dora.state.co.us/real-estate/index.htm. GA Residential Mortgage Lender (#12848); IL Residential Mortgage Licensee. KS Supervised Lender Licensee (#SL.0000625); Licensed in MA as a Mortgage Lender and Mortgage Broker (#MC0195); Authorized to do business in MO. Mississippi Registered Mortgage Company; Licensed Mortgage Banker in NE, Licensed by the NH Banking Department (#5985MB); Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker by the NY State Banking Dept.; Licensed by the PA Department of Banking as a Mortgage Lender; Licensed by the Virginia State Corporation Commission (#MC761); WA Consumer Loan License (520-CL-26259); Licensed Mortgage Banker in WV. Corporate National Mortgage Licensing System (NMLS) #2184

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Susan Jacobs

Bill were did you get this info? I dont see anything in FHA press release No. 11-007. that says it was extended thru 2012

Dec 28, 2011 02:06 AM
Bill Rozek
Embrace Home Loans, Inc. - Potomac, MD
NMLS #214260

Susan, thanks for catching that, I have corrected the link in the blog which should take you to http://portal.hud.gov/hudportal/HUD?src=/press/press_releases_media_advisories/2011/HUDNo.11-292


Dec 28, 2011 02:53 AM