Changes to Mortgage Insurance Rules: This Time, For the Better!
In March 2009, I blogged an update that Mortgage Insurance qualifying rules were tightening and that the maximum Debt-to-Income ratio (DTI) was decreasing from 55% to 41%. Then in June 2009, the minimum credit score requirement changed from 700 to 720. The credit...Are You Aware of the First Time Homebuyer Tax Credits?
There is a small window of opportunity for first time homebuyers to get a combination federal and state tax credits of up to $18,000 (state tax credit is for California). Please make sure those in your life know about this! Federal Tax Credit Rules: (up to $8000 tax...Earthquake Preparedness Tips: Blog Contributed by Kathy Sturr of Inside-Out Designs
I was in San Diego this past weekend visiting family when the 7.2 earthquake hit in Mexicali, which is ~130 miles from where I was. It was definitely one of the bigger ones I’ve been through and lasted a long time. For all of us, going through that is a reminder...FHA’s Upfront Insurance Premium Increasing on Monday, 4/5/10
For FHA loans assigned on or after April 5, 2010, the upfront mortgage insurance premium (UFMIP) is increasing from 1.75% to 2.25%. If you’re on the fence about refinancing into an FHA loan, or are currently still working on negotiations for a purchase, there...Loan Calculator
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