Obama’s Home Affordable 2.0 Refinance Program HARP 2.0 Plan Set to Help Underwater Homeowners in Georgia If you are a current homeowner with a FHA, VA, or USDA loan then you can stop reading. HARP 2.0 applies only to conventional, Fannie Mae and Freddie Mac financing. If you have a Conventional loan then read on [...]
Since mortgage rates can change several times a day, the following questions will help determine whether or not your lender truly knows what to look for so that they can provide you with the best rate once you’re in a position of locking in your loan
Short answer: it’s either ignorance on the seller’s part, or the property cannot pass the FHA inspection that is required. Long answer: Lately, FHA loans are harder to finish and close. There is a set of FHA rules. In addition to those rules, “investors,” the entities that buy the “paper” on Wall Street, can add [...]
FHA 203K loans require a little more coordination than a traditional loan would. In order to ensure we have a closing that is as smooth as possible and on TIME I have created this post to guide you Realtors on how you can us assist us AND your clients in getting our FHA 203K loan closed.
Today we will discuss the topic of FHA gift money for homebuyers looking to purchase a home in Atlanta and the rest of Georgia via FHA or FHA 203K renovation financing.
Gift money for an FHA loans can be used to cover the down payment and closing costs.
Here are the 10 things you need to know about these changes to your Georgia FHA Refinances: 1. The max LTV for rate & term refinances (including streamlines WITH an appraisal) is 97.75%* 2. The max LTV for cash-out refinances is 95%* for loan amounts less than the conforming limit and 85%* for loan amounts [...]
This is the first in a series of posts outlining the basics of FHA loans. What you qualify for, how much the down payment is, underwriting and documentation along with tips and tricks for a smooth closing will all be covered. Feel free to contact me directly with any specific questions.
The Housing & Economic Recovery Act of 2008 made quite a few changes to the mortgage industry, but none so important to home buyers looking to purchase in Atlanta with a FHA loan as the revision to the FHA required down payment and how it is calculated. Under current FHA guidelines, borrowers need to come [...]
We all know how expensive college can be and in a down economy we are all searching for ways to tighten the purse strings. One of the easiest ways to save some money on college housing is to look at the possibility of using FHA’s Kid Condo Rule to purchase your college student in Georgia [...]
2008 is almost gone and 2009 is just around the corner. Home buyers in Atlanta need to be aware that we are facing some changes if we are looking to purchase a home using in FHA financing in 2009. The first big change is the FHA loan limits for Georgia will be decreasing some in [...]
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