Good News - Bad News ... FHA changes again!

FHA is undoubtedly the most popular financing program for today’s homebuyers.  It’s the “go to” loan for first time homebuyers,  growing families and empty nesters alike.  Over the past 2 years there have been many changes to the face of FHA financing … unfortunately few of those changes have been in the favor of a potential home buyer.  Hmmmm, something’s wrong with that picture on many levels.

So, today I bring good news and bad news.

First, the bad news … FHA is changing their private mortgage insurance requirements once again.  The current FHA PMI is .9% of the loan amount.  That .9% is now increasing to 1.15%.  Please refrain from throwing rotten food my way … it wasn’t my idea folks!  (Putting that into perspective, on a purchase price of $163,000 your monthly mortgage payment will increase by $33).

Now, the good news … you have time to lock in on the lower FHA private mortgage insurance, but you have to hurry.  If a home buyer

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Buying a Home in 2011 ~ What You Need to Know

If buying a home is on your goals list for 2011, there are a few things you need to know.

1.       This is an exciting time, so get excited, dream big and imagine the possibilities!

2.      Credit requirements are stricter than ever before for financing a home.

3.      Now is the time to build your credit!

And this post is here to help you with #3 – building your credit.

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Refinance ~ Is That Smart?

Check your mailbox . . . you probably have a solicitation from an unknown mortgage lender with an enticing offer for a refinance.  Refinancing to a lower interest rate can be a GREAT thing; but not always!

Ready for a lender to be honest with you instead of give you a sales pitch?  I’m here to tell you the truth about refinancing.  There are 2 numbers you should focus on:

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The ?'s You're Dying to Ask

Home financing can be an intimidating topic - Stuffy lenders sitting across a big desk with a DENIED stamp may have been in your recent nightmares.  You have questions, you need answers.  I'm here to HELP you, not intimidate you (and I threw away my DENIED stamp years ago!)

How do I get pre-approved?
I’m here to make the pre-approval process fast and simple (and best of all, it’s FREE).  With a short phone conversation, I can provide you with your credit rating, and the approximate amount you qualify for.  What does it take to get pre-approved?  Not as much as you might think!

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Great News for our Veterans!

VA financing is in my option the BEST home financing on the market today - zero down payment, low interest rate and no monthly mortgage insurance, you simply can’t beat that!  Of course VA financing is reserved for service members and veterans exclusively.  It’s our way of saying “thank you for your incredible service to our country, now let us help you buy a home!”

Let’s face it, there is an overwhelming amount of paperwork required to obtain a VA loan.  You may be digging through boxes in storage for months!  But, I have a bit of good news for Veterans searching for their DD214 (Certificate of Discharge from Active Duty) . . . you can now request this form online quickly, easily and free!!!!

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