Significant Change to Max Qualifying Ratios Allowed
Beginning December 11th, it will officially be harder to qualify for a home loan. In the past and up until 12/11/09, lenders allow(ed) your qualifying ratio to go up to 55%, at least with compensating factors of good credit and 20% equity or down payment in a home....Happy Thanksgiving!
Have a special Thanksgiving holiday with your friends and families! The bond market is closed today and tomorrow it will close early. Most lenders will be closed until Monday, so interest rates will not be issued until then. I appreciate your loyalty and readership...Interest Rates are at Near-Bottom Levels
I saw some unbelievable interest rates this week and they’re still going strong. My experience is that they don’t last long, so if you can, I definitely recommend taking advantage. And remember, if you can’t refinance traditionally because you have...Good News! The $8000 Tax Credit has been Extended as well as Expanded!
The $8000 federal tax credit has been extended and expanded! The credit, which was supposed to expire 12/1/09, has now been extended to 4/30/10. In addition, there will be a 60-day extension if you go into binding and official contract prior to April 30th. In addition...Loan Calculator
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