A resource for real estate agents with technology, title and mortgage expertise
The number one complaint I hear from listing agents is the lack of communication coming from the lender. They often feel left in the dark and out of the loop when it comes to dates and deadlines being met. I feel its imperative now more than ever to over communicate the details and ensure that … [Read more...]
Fannie Mae 3% Down an Excellent Alternative to FHA for Colorado Springs Homebuyers With the cost of FHA mortgages increasing next month, the Fannie Mae Flex mortgage is an excellent alternative to FHA financing and possibly an even better overall solution for some homebuyers given the increased … [Read more...]
Did you know that clients purchasing a multi unit property (2-4 family home) can use rental income from units they aren’t occupying to qualify? That’s right! FHA loans don’t just work for single family homes. They can also assist buyers interested in purchasing income producing … [Read more...]
Recent studies show that when individuals set out to purchase a home they are motivated primarily by one of 12 reasons. There could be one or two additional things that drive them, but the 12 I've listed should give you a good place to start. So, if you find prospects saying things to you like: … [Read more...]
The FHA 203K rehabilitation mortgage hasn’t seen much activity in recent years, but due to the lack of availability of Home Equity Lines of Credit and Construction loans, new life has been breathed into this program. If you’re not familiar with the FHA 203k mortgage, it’s a product that was … [Read more...]
Last week proved to be an eventful week for mortgage news ending with the pronouncement from Washington that the Obama administration plans to phase out the beleaguered lending giants Fannie Mae and Freddie Mac permanently. What does this mean for buyers? Only time will tell as all the details … [Read more...]
With so many i’s to dot and t’s to cross these days, is it any wonder there are transactions falling apart for reasons we’ve never seen before? Guidelines are changing daily as lenders attempt to keep up with current market conditions and buyers with credit issues they’ve never faced … [Read more...]
I’m asked almost daily – “how do I know if this property is a condo or a townhome?” If you’ve been through a condo transaction lately, you know that condominiums present financing challenges better addressed at the beginning of the transaction, as opposed to later. For example: … [Read more...]
FHA extends suspension of 'anti-flipping' rule for another year Good news for investors and buyers! FHA has decided to extend its suspension of the anti-flipping rule through the end of this year. Set to expire at the end of the month, the waiver now goes into effect February 1st. Without … [Read more...]
There are two big updates to make you aware of this week. You'll want to pass these along to clients interested in purchasing within the next few months as it could impact their ability to qualify and/or close. Loan Fees Rising - Fannie Mae has followed her brother Freddie Mac and will … [Read more...]
