FHA Making Sweeping Changes, AGAIN!

The BIGGEST CHANGE, however, IMHO is the change to networth requirements for lenders who want to do business with FHA. It went from $250,000 (liquid) to $1,000,000. This is a WHOPPING big number – and it means only BIG players will be selling directly to FHA.

FHA Refinance

Okay – so here’s something that will stump the loan officer. 
You bought a property in Feb. of 2008.  You got a Heck of a Deal – and you purchased the home for $237,000.  The appraisal in February was for $245,000 (and the appraiser thinks it’s worth more now).  The loan in February was a conventional [...]

Subprime Refinances

FHA has some new guidelines that help those that are in your situation. If you find yourself here – please call us and see if we can refinance you into an FHA mortgage. The maximum loan amount in Wake County is $295,000.