Home Path financing Update: Fannie Mae Offers New Closing Cost Assistance and Appliance Incentive for Homebuyers…
January 28, 2010 | Brian Lebars | Comments: (0)
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)
Image via Wikipedia
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 [...]
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 [...]
FHA Condo Update
November 10, 2009 | Brian Lebars | Comments: (0)
This update contains the temporary changes to the FHA Condo Approval Process as outlined in Mortgage Letter 2009-46 B.
Here are the 65 things you need to know about these changes:
1. These temporary changes are effective on December 7th, 2009 through December 31st 2010; except for Spot Loan Approvals.
2. Spot Loan Approvals will be eliminated as [...]
Feds reverse rule to assist first-time home buyers downpayment assistance
May 19, 2009 | Brian Lebars | Comments: (1)
Federal officials on Monday reversed an earlier decision to allow first-time home buyers to use an $8,000 tax credit to borrow the down payment on a home.
A week earlier, U.S. Department of Housing and Urban Development Secretary Shaun Donovan had told the National Association of Home Builders that HUD would let banks and local governments [...]
