October 2009
2010 Loan Limits Remain The Same
October 31, 2009 by Jeff Thomas · Leave a Comment
Congress passed a resolution yesterday to keep mortgage loan limits to the 2009 loan amounts. (This is good!) The current limit is $417,000 for most areas of the country. While if you live in a high cost area, like most of northern Virginia and the surrounding areas the limit is $729,650.
To check what the maximum [...]
Home Sales Increasing
October 30, 2009 by Jeff Thomas · Leave a Comment
Rebound in Existing-Home Sales Shows First-Time Buyer Momentum October 23, 2009 – Existing-home sales bounced back strongly in September with first-time buyers driving much of the activity, marking five gains in the past six months. House values seem to be turning around for our area. Check out the link below. http://www.realtor.org/research/research/ehsdata
Home Buyer Tax Credit Extended?
October 29, 2009 by Jeff Thomas · 1 Comment
Looks like the Tax credit will be extended with some help for current homeowners. See this article
The Homebuyer tax credit might be extended check out this article:
http://tinyurl.com/yh8amph
I am not sure if this is good for the country as a whole. The actual cost of the tax credit is well beyond the $8,000 credit to [...]
$8,000 First Time Homebuyer Tax Credit Extension
October 28, 2009 by Jeff Thomas · Leave a Comment
The extension of the $8,000 first time home buyer tax credit is still up in the air. Most think real estate in Fairfax, Alexandria and Prince William counties will suffer if teh measure is not extended.
Changes Coming To FHA Streamline Program
October 25, 2009 by Jeff Thomas · Leave a Comment
Changes to FHA streamline program are not for the ease of the consumer. And the changes are not for the better. In fact, most FHA loan holders will not like the changes.
The US Dept of HUD recently announced that it will be making new revisions to FHA streamline refinance guidelines.
Effective November 17, 2009, taking advantage [...]
FHA Streamlined 203(K)Loan
October 23, 2009 by Jeff Thomas · Leave a Comment
If you’ve been passing up on buying a home because of the expense of anticipated cosmetic repairs, you’re missing out on a great opportunity. Sure, it used to be that if you bought a home and then applied for a home equity loan to pay for repairs, the result would be two separate loans (or [...]
$8,000 Tax Credit Ending Soon
October 17, 2009 by Jeff Thomas · Leave a Comment
October 17, 2009 by Jeff Thomas
Now is the time to get into gear if you want to take advantage of the $8,000 first time home buyer credit. Fairfax and the surrounding county’s have more affordable homes than in recent memory. We have what most of us will most likely remember later in life as the perfect [...]
The Race for Equity
October 16, 2009 by Jeff Thomas · Leave a Comment
Choosing the Right Loan Program
Those who take property ownership seriously often look for options to build equity at a faster pace. An aggressive approach is to select a 15-year loan program over a 30-year mortgage.
A 15-year loan works well for home buyers budgeting time and money, those who are possibly looking forward to a [...]
The Federal Reserve and Mortgage Rates
October 16, 2009 by Jeff Thomas · Leave a Comment
Understanding What Causes Interest Rate Movement
Consumers are often misled when it comes to the subject of the Federal Reserve and how it affects mortgage interest rates. Often the media is the culprit causing the confusion. Many times, the Fed has taken action that caused mortgage interest rates to move in a direction other than what [...]
