The recent proposal to reform Fannie Mae and Freddie Mac could have major implications on future homeowners, as well as sellers. Although it is likely to be years before any changes are implemented, the ability to finanace a home could be much more difficult in the years to come. How Buying a Home Is Likely…read more
The attached article sums up today’s buyers…more and more buyers are not seeking high loan-to-value ratios and are either putting more money down or paying cash. However, many of these buyers are not your “typical” first-time homebuyer who may have little equity (less than 5%) to contribute to the down payment. As lenders have tightened…read more
Just when we thought rates had bottomed out and they couldn’t quite possible go any lower; the Feds met yesterday and will buy back $600 billion on long-term treasuries. As a result, we expect mortgage rates to dip even further! Economists predict rates could even dip down as low as 3.875% very shortly, continuing to…read more
Just when you think mortgage rates have gone as low as possible..they have declined to another record low! Mortgage rates hit decades-low of 4.19 percent Source: Associated Press/AP Online Publication date: 2010-10-14 By ALAN ZIBEL WASHINGTON – Rates on 30-year mortgages fell to 4.19 percent, the lowest level in decades. They were pushed down by…read more
The recent news from Zillow.com confirms what I’ve seen in recent years; fewer people are able to obain mortgage dues to credit scores and tighter lender requirments. Typically, lenders like to see credit scores above 720 for the best rates; but even in today’s financial climate I’ve experienced headaches from lenders with buyers with…read more
Today’s article highlights the pros and cons of refinancing with today’s rates. Although I would typically always recommend refinancing to a lower rate if you plan to stay in your house for at least five years & the rate is at least 0.75% lower, there are times when it makes sense to stick with a…read more
Buyers purchasing a home via FHA financing or can take advantage of HUD’s rehab program at the time they purchase the home. Many foreclosures and short-sale properties need work; this program allows buyers to take advantage of low-interest loans to make those improvements. Please see link below for additional details: http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm
FHA will tighten up in 2010 | Real Estate and Technology News for Agents, Brokers and Investors | Inman News Posted using ShareThis
