Thank you to the Nebraska Realtors Association for bringing Kevin Stahle to Omaha to teach GRI 104: Financing. The class was held at the Holiday Inn Convention Center on June 25th & 26th.
Topics covered included conventional, FHA, and VA financing, as well as recent changes in financing requirements. With the sub-prime fallout of 2007 still being felt, knowledge of financing has become more important than ever.
Some tidbits of useful information included:
- Conventional lenders are no longer offering 100% financing. A minimum of 5% down payment is required.
- FHA however only requires 3% down.
- The limit on the size of an FHA loan in Nebraska is $271,000.
- The VA financing limit is $417,000 with no down payment and $700,000 with a down payment.
- VA financing is the only 100% financing available today.
For those of you unfamiliar with what GRI stands for it is GRI, Graduate Realtor Institute. This is the highest designation that the National Association of Realtors has.
Coming in August - GRI 103: Ethics & Legal Issues taught by Bruce Aydt.
Trumm Team - Alliance Real Estate, Omaha, NE