Are loan limits going to decrease on October 1, or has it already happened??? As announced previously, FHA and Conventional loan limits will be decreasing as of October 1. Those changes were interpreted by the mortgage origination market as…
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Blog Archives
loan limit decrease UPDATE
FHA lending limits
FHA limits were subject to the same “temporary” increases that impacted conventional loans, but the floor on FHA loans is much lower than the floor on conventional loans. Therefore with the removal of the temporary loan limits, FHA loan limits…
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Purchase and renovate steps
Step # Description Responsible person 1 Locate a property and write an offer (ask for 45 day escrow) Buyer / Agent 2 Once offer is accepted, meet with the KING TEAM right away(to discuss the process and update income and…
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Posted in The Homebuying process
August 8 Market update
What is happening in the market today, and how does it impact mortgages? On Friday S&P downgraded US Government debt Treasuries have typically been considered the most stable investment The downgrade means that treasuries are not as secure as…
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FHA upcoming changes
Changes, they are a cummin! There are 2 major areas that are subject to changes in the next 6 months, and you need to be aware of these dates so that as a buyer or seller you are not stuck…
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Affordable NEW homes in Lodi
There are 4 properties that are newly constructed (never lived in) and have built in financing specials allowing people to purchase with as little as 1-2% out of pocket.
Tagged with: DAP, Down Payment Assistance Programs, First time homebuyer
Posted in The Homebuying process
Posted in The Homebuying process
Homebuyer Education
Certain loan programs (typically DOWN PAYMENT ASSISTANCE PROGRAMS) require homebuyer education in order to get access to the assistance funds. Even if you are not utilizing these funds, many first time buyers find it helpful to go thru these…
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Tagged with: counseling, credit counseling, DAP, Down Payment Assistance Programs, First time homebuyer
Posted in The Homebuying process
Posted in The Homebuying process
Median income limits updated for 2011
HUD just released the updated median income limits for 2011. Limits for MSA’s (Metropolitan Statistical Area) in California are listed here. These limits are important because most down payment assistance programs (DAP) use a percentage of median income as a guideline…
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Tagged with: 2011 median income, DAP, Down Payment Assistance Programs, HUD, Metropolitan Statistical Area, MSA
Posted in Loan Guidelines, The Homebuying process
Posted in Loan Guidelines, The Homebuying process