Home Path financing Update: Fannie Mae Offers New Closing Cost Assistance and Appliance Incentive for Homebuyers…
January 28, 2010 | Brian Lebars | Comments: (1)
Fannie Mae is offering a 3.5% incentive for buyers who purchase and close on a Fannie Mae-owned home between January 28 and April 30, 2010. Buyers purchasing properties owned by Fannie Mae that are closed within this period may receive up to 3.5% of the final sales price for:
• [...]
FHA NEWS: Increase in upfront premiums for FHA mortgage insurence on the horizion
January 21, 2010 | Brian Lebars | Comments: (3)
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This just in from HUD:
In an effort to shore up its flailing balance sheet and dwindling capital reserves, the Federal Housing Authority rolled out theses sweeping financial changes.
Effective for case numbers assigned on or after April 5, 2010 FHA will collect an upfront mortgage insurgence premium of 2.25%. The current FHA premium for [...]
HUD Waives 90 Day Flipping Rule for FHA Borrowers Starting February 1, 2010- Take note of the special conditions though.
January 19, 2010 | Brian Lebars | Comments: (0)
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HUD’s David H. Stevens issued a waiver of the 90 Day Flipping Rule that has prevented private sellers (LLC’s, Trusts, etc) from taking offers from FHA home loan borrowers. This waiver was issued for a period of 1 year, starting February 1, 2010. There are a few conditions, such as the seller can’t [...]
California ups home buyer tax credit
January 13, 2010 | Brian Lebars | Comments: (0)
News from the Cyberhomes blog that could impact you if buying a home or assisting your client in a purchase.
California’s real estate market may again become golden for some home buyers now that Gov. Arnold Schwarzenegger has proposed up to a $10,000 tax credit for those who purchase new or existing homes in the state.
Program [...]
2010 FHA policy change. What you need to know for the benefit of your client post short sale-
January 4, 2010 | Brian Lebars | Comments: (0)
As we leave 2009 and charge into 2010 HUD has introduced new guidelines for FHA in regards to financing after a Short Sale. Short sales are defined as the lender is accepting less than the total amount due on the property financed.
Borrowers are NOT eligible for a new FHA mortgage if they pursued a short [...]
