Get Your Condos on the FHA List

Another condo crisis brewing You need to make sure your condo association is on the FHA approved list, even if you aren’t selling anytime soon.  Want to buy a condo?  Can’t pay cash?  Well then you need to buy an FHA approved condo.  If a condo association isn’t on the FHA approved list there are [...]

Homebuyer Tax Credit – Closing Deadline Extended by Congress

For any of you out there who were trying to close on a property before July 1st and didn’t, I have some GOOD NEWS! Home Buyer Deadline Extension Congress has voted to extend the deadline for closings from 6/30 out to 9/30/2010.  The president still needs to sign it into law, but the rumor mill [...]

Tips on Buying a Home – First Thing To Do

So you want to buy a home and you know little or nothing about it… First Thing to Do The very first thing you want to do, is get with your banker or a local lender. I say local lender because you will have so many questions that it is better to be able to [...]

Short Sales “Get a Boost”

On April 5, lenders and mortgage investors will have even more incentives to offer troubled borrowers short sales instead of foreclosing. Under the new changes to Home Affordable Foreclosure Alternatives program, borrowers will earn a $3,000 “relocation incentive” and loan servicers will get $1,500 for handling a short sale.

First-Time Home Buyers – Know Your Costs

First time home buyers can get educated Many first time home buyers are faced with the fact that they may not be able to afford a newly constructed home, so they look at resales. Although many resale homes are immaculately maintained, some resale homes are not maintained properly and need immediate attention. Whether it is a [...]

Amazing Rates?

Crown Financial in Gainesville is offering loans at 4.375% for a 30 year conventional fixed mortgage… if you are looking for a loan you might want to check them out.

Does Paying Points on Your Loan Make Sense?

There are a LOT of choices to make when you shop for a home loan. one of the more complicated ones is whether it is worth it to pay points to “buy down” your loan. All your loan decisions are about paying as little as you can for the loan that fits your needs best. That it the case with paying for discount points too.

Holiday Shopping Could Affect Your Credit Score

If you are buying real estate in the next 6 months and you want to get a loan you should watch this video because you can hurt your credit scores if you aren’t careful.

Toss Your Credit Score a Lifeline!

FICO has a new website where you can get advise about how to improve your scores and how they affect the quality and types of loans you are offered.
The website has a great tool to show you how your APR is affected by your credit scores, how your credit cards offers change, and calculators for loan costs.

Changes to Condo Financing

FHA is now introducing a new program for qualifying condos for FHA loans called DELRAP. This could reduce the hassles condo owners are experiencing when trying to sell by making it easier for buyers to get a loan.

DELRAP stands for Direct Endorsement Lender Review and Approval Process. As of October first DELRAP will be the (primary) way that condominiums will be approved for FHA. It may no longer take months for the FHA to review paperwork on a condo association in order to establish it on the “FHA Approved” list for lending.