“World's Most Complete Neighborpedia”
Sponsor a Community — What is Localism? | Register or Sign In
Explore:   What's happening in your neck of the woods?
Home

125%LTV refi's? - Non-warrantable loans - 203(k) summary - FHA loans at risk?

FHA lending criteria have become stricter, and the trend will continue I think. The divergence between FHA and Fannie/Freddie is still significant. and F/F are not likely to lower their standards! /// And now the surging demand for FHA loans is putting the program at risk. US watchdog warning. /// Make it a good week folks. Call me if I can help - Paul
125%+ refinances?
The Obama administration is considering allowing Fannie Mae and Freddie Mac to refinance loans with current loan-to-value ratios of 125%, or higher. Read more
FHA 203(k) rehab loans
203(k) loans are the perfect for home renovations, handyman specials, and improvement of foreclosed property. The lending value can be as high as 110% of total cost. Summary

10 cities most likely to bounce back quickly
Forbes magazine has identified the top 10 cities that it believes are poised for recovery by examining unemployment figures, projected gross domestic product from Moody’s Economy.com, and housing affordability data from the National Association of Home Builders. Read more
Loans for non-warrantable condos
Condo's can be "non-warrantable" due to not enough (pre-)sales, too many renters, HOA control not turned over to owners, more than 10% ownership concentration, and many other factors. It is not "one size fits all" and it can be complex, but we do have loan options available. More information
Low inflation pushes rates back down
For the week ending June 18th the 30-year fixed averaged 5.38% with an average 0.7% fees and points, down from last week when it averaged 5.59%. This time last year it averaged 6.42%. Freddie Mac rate surveys.

Available
- Same day loan decision (no ifs or buts)
- 30-day closes (45-days for FHA)
- Condo (conversion) financing services. Information
- FHA loans down to 560 Fico
- 50-70% LTV stated income loans (600-700 Fico needed)
- 95% LTV Fannie Mae condo loans
- Loans for non-residents
- Rehab and construction loans
- Non-warrantable property
- Reverse mortgages
- Jumbo loans at near conforming rates
- Commercial loans
Contact me for excellent service.
_________________________

"There is no such thing as a good excuse"
John P. Grier (1914-2002)
Posted Friday Jun 19