Credit reports are still key for lenders to determine a buyers ability to repay a mortgage loan. Having credit scores in the 700 range and open tradelines is ideal.
Tag Archives: fha
Private Mortgage Insurance vs FHA Mortgage Insurance
The mortgage finance industry has been through a turbulent three years: changing players, guidelines, secondary markets, and property values. Many mortgage originators are electing to use the FHA for their high-credit-quality borrowers, even though conventional insured loans often result in a lower payment with more options/benefits to the borrower. Let’s face it, the FHA loans [...]
VA Clarifies Stance on FHA Approved Condos | Good News for Orange County Condo Buyers
The VA clarified it’s stance on allowing financing on FHA approved condo projects, which will help Orange County, CA condo buyers wishing to use VA financing. VA financing provides one of the last true $0 down loan programs for eligible Veterans. In Orange County, CA, an eligible VA loan home buyer can purchase a property [...]
The FHA is A-OK
Here at DotLoop, we always knew we were on to something big. Call it intuition, call it gut instinct, call it clairvoyance, but we just knew that the old way of doing things wasn’t working. So, when it was announced late yesterday that the FHA is now accepting electronic signatures for every real estate transaction, [...]
FHA to waive 90-day flipping rule
The Dept. of Housing and Urban Development (HUD) announced Friday it will eliminate for one year the Federal Housing Administration (FHA) 90-day anti-flipping rule. FHA’s anti-flipping rule generally prohibits insuring a mortgage on a home owned by the seller for less than 90 days. That rule already has been waived for certain transactions, including REOs. [...]
Changes to FHA Loans for Santa Clara County Condominiums
Some major changes went into effect today for FHA loans for Santa Clara County Condominiums. Elimination of “Spot Loan” Approval Process If a condo project was not approved by FHA, a “spot approval” was allowed just for financing one unit. This process has been eliminated as of today. Now the entire project has to be [...]
FHA Policy Changes
Starting Jan. 1, 2010, the Federal Housing Administration will adhere to new credit standards and appraisal guidelines for FHA-insured mortgages. The new guidelines, which essentially align with HVCC rules, will prohibit the undue influence of appraisers, or the choosing of an appraiser, by mortgage brokers or commission-based lender staff. In addition, the FHA’s appraisal validity period [...]
HUD / FHA Changes That Mortgage and Real Estate Professionals Need To Be Aware Of
Effective January 1, 2010, HUD is requiring loan originators provide borrowers with a Standard Good Faith Estimate (GFE) that clearly discloses key loan terms and closing costs and that closing agents provide borrowers with a revised HUD-1 Settlement Statement. There are three main areas of regulation and updates that mortgage brokers have to pay attention [...]
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Rob@Jupiter Real Estate: In Florida we have many condos located on oceanfro...
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Larry: It should almost be a necessity to have a swimming...
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New Media 4 Agents: I think we are past the stage of wondering if it w...
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Jim Wagoner: Good information we all should try to live by....
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Mike Pannell: Tony, i tried to sign my Wife up on your property ...
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$10000 California First Time Home Buyer and New Home Tax Credit Extended
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Unite Against the Sarasota MLS Board
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Short Sale Heaven Coming April 5th 2010
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The Lones Group – Real Estate Social Media Marketing Firm – Sues Agent For Being A Zebra
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California Senate Bill 94 (SB94): Passes; Not even Attorneys can do it!
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We are not the FHA, VA, USDA, HUD or any other government organization. The content on this blog is intended for information purposes only. 
