Thanks to Susan O’Driscol of Princeton Capitol for this update today. “The FHA announced changes to its guidelines yesterday. It will raise the minimum down payment required for borrowers with credit rating scores below 580 to 10%, while the down payment for higher-ranked borrowers would stay at 3.5%. The up-front MI premium is also going [...]
Posts Tagged ‘FHA’
Is the Patient-Buyers & Sellers-Finally out of Intensive Care?
We’re seeing signs that the Coast has hit the bottom of the Real Estate Market. We are getting some multiple offers on well priced homes in the lower price range. Investors are looking at the Coast for their second and third homes. Doesn’t everyone want a Cottage at the beach? So let’s look at what Rick Turley has [...]
It May Be Time to Get Off the Fence! by Rick Turley
With the Economic Stimulus Package and the Foreclosure Prevention Plan underway, many Americans are anxious to move forward, realizing that there will still be weeks and months of discussion and fine-tuning before all elements will be understood. At the end of the day, some elements will be popular with the majority, perceived as helpful to [...]
$729,750 Is Back!
We were all hoping that President Obama would put the conforming loan limit cap back to $729,750. Hooray!! We have several clients where this will make a huge difference to them on what they can afford. Let’s hope that this one move is a stimulus to the housing market and that the first time home [...]
Calling All Would-Be Buyers! Interest Rates Moving Down (Video)
Calling all would-be buyers! Freddie Mac, Fannie Mae, FHA-what IS all this that has been in the news? Interest rates are moving down and FHA loans are now at an all time high. These loan amounts are going to go down at the end of the year. Check out all the particulars and get your questions [...]
