by Irene Moustakas | Feb 29, 2012 | 1st Time Homebuyers, Industry News
(Blog post has been updated to reflect the new change date of 4/9/12, per FHA Mortgage Letter 12-4) It’s happening again… FHA Upfront Mortgage Insurance Premiums, as well as the monthly Mortgage Insurance charges, are set to increase on April 9, 2012. If you need an...
by Irene Moustakas | Feb 22, 2012 | 1st Time Homebuyers, Featured, Tips
If you are purchasing a home and the appraised value comes in lower than the sales price, this can be a deal-killer for many buyers. Lenders calculate the loan amount based on the lesser of the purchase price or the appraised value. If you’re at the Loan-to-Value...
by Irene Moustakas | Oct 3, 2011 | 1st Time Homebuyers, Featured, Loan Programs and Products
The 3.5% credit towards closing costs (and buying down an interest rate, if applicable) is expiring soon! For any Homepath real estate purchase, you can still qualify for the 3.5% credit. So if your purchase price is $400,000, you will receive a credit from Fannie...
by Irene Moustakas | Apr 12, 2011 | 1st Time Homebuyers, Featured, Loan Programs and Products
This 3.5% assistance applies to Homepath properties, but it is available only during a small window of time. Homepath is an excellent financing program available for Fannie Mae-owned homes. Check out the features of Homepath in my previous blog, but as a quick...
by Irene Moustakas | Nov 3, 2010 | 1st Time Homebuyers, Industry News
“I’m considering applying for a conventional loan. I have excellent credit, but my husband does not. Can I apply for the loan on my own?” This question comes up quite a lot, especially with newly married couples that come into their marriage with different...
by Irene Moustakas | Aug 5, 2010 | 1st Time Homebuyers, Industry News, Loan Programs and Products
For those of you in the market to purchase a home, you should definitely check out www.homepath.com This program is for the purchase of Fannie Mae-owned homes. Some of the program’s main highlights are: Low down payment (as little as 5% down on conforming loans or...