Loan Information
Home Buyer’s Tax Credit About to End
February 28, 2010 by Jeff Thomas · Leave a Comment
Fairfax, Virginia
You’re probably up to your neck by now in forms and paperwork as the April 15th income tax deadline approaches. Maybe you’ve already completed your taxes, paid your bill, or are awaiting your refund check. Either way, now is the perfect time to revisit the extended and expanded Home Buyer’s Tax Credit.Why? Because now, [...]
A Box of Life for Valentine’s Day
February 3, 2010 by Jeff Thomas · Leave a Comment
When we think of Valentine’s Day, we usually think of flowers, a box of chocolates and a romantic dinner with the one we love. Those are very nice ways to show the special people in our lives just how much we love them.
But I want to share with you a way that you can show [...]
Those Who Wait Will Pay Thousands More This Spring
February 3, 2010 by Jeff Thomas · Leave a Comment
Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority (FHA).
Coming just weeks before the April 30 deadline for the Home Buyer Tax Credit and [...]
New Home Search App for the I-Phone
January 26, 2010 by Jeff Thomas · Leave a Comment
Take your home search mobile – for FREE!
The REALTOR.com® iPhone App
Instantly access over 4 million homes
View listings on an interactive map
Share listings via Facebook & Twitter
Homebuyer Tax Credit and IRS Form 5404
January 24, 2010 by Jeff Thomas · 1 Comment
Fairfax, Virginia:
The Worker, Homeownership, and Business Assistance is the larger bill that included the homebuyer tax credit additions. Taxpayers wanting to take advantage of the first time home buyer credit (up to $8,000) or the new repeat home buyer tax credit (up to $6,500) can now get the revised IRS form 5405 to submit with [...]
90-Day Seasoning Waiver Expanded
January 18, 2010 by Jeff Thomas · Leave a Comment
90-Day Seasoning Waiver Expanded
Fairfax, Virginia: This update from FHA Virginia Loans was released on Friday January 15th, 2010, as an excerpt from the CFR (Code of Federal Regulations) without a corresponding Mortgagee Letter and contains information about FHA’s policies regarding the waiver of the 90-day seasoning required for sellers.
Here are the 6 things you need [...]
Tribute To Dr. Martin Luther King
January 16, 2010 by Jeff Thomas · Leave a Comment
Fairfax, Virginia
From Dr. Martin Luther King Jr.
In honor of Dr. Martin Luther King, I decided to dedicate this post to the incredible speech he gave on August 28, 1963. The speech gives you the opportunity to see compassion, enthusiasm, and the opportunity to inspire others into action, just as Dr. King did during his short [...]
The Times They Are A Changing
January 8, 2010 by Jeff Thomas · Leave a Comment
What’s ahead for home loans in 2010
This year could bring significant changes from 2009 for those seeking home loans. Over the last year, home prices fell to 2003 and earlier levels in many parts of the country. In addition, home loan rates declined to the lowest levels on record and this combination led to the [...]
Interest Rates-When is the best time to lock?
December 17, 2009 by Jeff Thomas · Leave a Comment
I always advise my clients to lock in their interest rate at the earliest opportunity. Gambling with a client’s interest rate is never advisable. In my business, I have a standardized system in place that we adhere to for all of our clientele.
A mortgage loan cannot be closed without locking in a rate, and there [...]
Fannie Mae Unveils Underwriting Changes
December 10, 2009 by Jeff Thomas · Leave a Comment
Vienna, Virginia: Fannie Mae has updated its automated underwriting software recently. The changes are major and could affect how many potential home seekers actually become homeowners. Having a loan underwritten by an actual person are almost non-existent these days. Both Fannie Mae and Freddie Mac feel they are better served using their proprietary software programs. Desktop Underwriter® (DU) [...]
2009-2010 Tax Credit Video
December 9, 2009 by Jeff Thomas · Leave a Comment
The Senate voted to extend the $8,000 first-time home buyer tax credit for home buyers in the Fairfax, Virginia and Alexandria, Virginia areaa. Additionally, the new bill also includes a $6,500 credit for existing homeowners who have been in their current residence for at least five years. The tax credit has been extented to November [...]
New Home Affordable Foreclosure Alternatives Program
December 8, 2009 by Jeff Thomas · Leave a Comment
Fairfax, Virginia: The Treasury Department released guidelines and updated forms on November 30, 2009 for its new Home Affordable Foreclosure Alternatives Program (HAFA) for homeowners in Fairfax, Virginia and Alexandria, Virginia area. The HAFA program is supposed to compliment the HAMP program and applies to loans not owned or guaranteed by Fannie Mae or Freddie Mac. [...]
The Investment Property Dilemma
December 8, 2009 by Jeff Thomas · Leave a Comment
Here is just a few of the issues some of my clients have come across in the past few months.
Client 1:
Condo refinance in Vienna, Virginia
A recently married client wanted to refinance his condo to a lower rate and get out of the adjustable rate loan program they currently have. Both borrowers had excellent income, job stability [...]
Why are FHA loans so popular?
November 24, 2009 by Jeff Thomas · Leave a Comment
Why is FHA so popular today?
Credit score: FHA has always been a friend to the borrower with bruised credit. But up until roughly 1999 credit scores were not that integrated into the mortgage lending process. And FHA lenders were still manually underwriting loan files up intil the past few years. FHA does not have [...]
Taking 10 Seconds To Say Thanks To Those Who Serve
November 20, 2009 by Jeff Thomas · Leave a Comment
Farifax, Virginia: A family member sent this to me the other day and I thought it was pretty cool.
XEROX IS DOING SOMETHING COOL
If you go to this web site, www.LetsSayThanks.com you can pick out a thank you card and Xerox will print it and it will be sent to a soldier who is currently serving [...]
