FHA Downpayment Going to 5% ??

US Congressman Scott Garrett (R-NJ) introduced the “FHA Taxpayer Protection Act of 2009. In his bill, borrowers would be required to make a 5% downpayment on FHA loans, as opposed to the 3.5% downpayment in the current guidelines.

FHA Qualifying Requirements

Many of the folks we are talking with right now want to purchase a home using the FHA Mortgage Loan program – and then taking the $8000 Tax Credit (you can get that back NOW, like in 12 weeks, by amending THIS YEAR’s TAX RETURN!) to “pay yourself back” for the downpayment!
Here are qualifying requirements for [...]

FHA To Allow Tax Credit To Work As Downpayment

FHA announced during a summit in Washington that they will shortly be allowing the Tax Credit for First Time Homebuyers to be used as downpayment!
 THIS IS HUGE!
There are few details available about how they will execute this, but here’s a link to the information I was able to find:
http://www.realtor.org/RMODaily.nsf/pages/News2009051202?OpenDocument

First Time Home Buyer Tips!

If you are a First Time Homebuyer, the government recently initiated a program that could help you!
They are G-I-V-I-N-G you a $8000 credit that you can use on your 2009 and 2010 taxes! For details on this credit, click here!
First Time Homebuyers have many loan program options.  If you, or your spouse, are a [...]

Basics to Qualifying for a FHA Mortgage Loan

FHA mortgage loans offers some of the most flexible financing available for today’s home buyers!  With FHA, you can purchase a property that’s located almost anywhere, (unlike USDA that has a “footprint” of where you can purchase) and you don’t have to be a Veteran (a requirement for VA home loans ).  AND you can use [...]

100% Mortgage Loans in Chapel Hill?

I was very surprised by just how much of Orange County, NC qualifies for USDA Mortage Loans!  Pleasantly Surprised!
Granted, downtown Carrboro and Chapel Hill do not qualify – but MOST of the county does! To find out if your specific property qualifies, click here!

The parts in the “shaded” areas do not qualify for USDA loans, however, [...]

USDA No Money Down Mortgage

We’ve helped many customers buy homes with an old program offered through the USDA… not farms… HOMES.
The Rurual Economic Development Fund is what it use to be called, now it’s just a part of the USDA, and the goal is to provide mortgages, and incentives for folks to purchase homes in less “densly” populated areas!
So, [...]

Stop Renting – Buy Now

Are you tired of having to clean up after roommates?
Then take the $8000 credit the government is giving first time home buyers – and BUY a house!
You have some great financing options (and YES we are STILL making loans to folks, and first time home buyers have the EASIEST qualifying of any group!):

FHA will allow [...]

Rental Income and FHA

FHA announced new guidelines for those who are going to rent their residence – and then apply for a FHA loan.  The “old” rule has always been that if you were relocating, you could “hold” more than 1 FHA loan… otherwise, you could only have one FHA loan at a time.
Now, FHA says that if [...]