2009 Loan Limits Set to Increase
Many of you know that the high balance conforming loan limit decreased from $729,750 to $625,500 in January 2009. This has hurt many people whose loans fall into that bracket. But there is good news! The House and Senate passed the American Recovery and...Minimum Down Payment Requirements
I received a lot of additional questions to my January 26th post regarding the 5% down payment option, so I would like to go over down payment requirements for other property types and loan amounts. The following is limited to conventional loans. Down payment...5% Down Payment, Conventional Loan Available
UPDATED JANUARY 13, 2010: Please refer to my most recent post regarding minimum down payment requirements. They are based on loan amount range as well as property type....UPDATE: 2009 Appraisal Requirements: The Home Valuation Code of Conduct
I wrote a blog post on this subject in September. To get a better understanding of its foundation, see my previous post: http://loansbyireneblog.com/2008/09/02/for-better-or-for-worse-new-appraisal-process-come-january-2009/ Essentially, the Home Valuation Code of...The Latest Interest Rate Happenings
Interest rates are incredible, but I want to point out some recent limitations to these excellent rates. Normally, in terms of points vs. no points vs. no points/no fees, interest rates tend to work in .25% increments. For example, you would be quoted in the following...Loan Calculator
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