Loan Programs
Market Snap Shot for Fairfax, Virginia
March 2, 2010 by Jeff Thomas · Leave a Comment
Market Snap Shot for Fairfax, Virginia Mortgage Interest Rates and Local Real Estate
By Sigma Research
By Tuesday, March 02, 2010
Treasuries and mortgages started weaker this morning with the stock index futures pointing to a nice open in equities at 9:30. No real data this morning, the only thing on the schedule is Feb auto and truck [...]
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 [...]
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 [...]
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 [...]
Many Changes to FHA Since 2000
November 5, 2009 by Jeff Thomas · Leave a Comment
With over 1,000 changes to FHA programs since 2000, it is important to work with someone that understands how the “new” FHA loan works. In the last 5 years there have been significant changes made to FHA guidelines designed to make it much easier to originate these loans. but that has not actually been the case. [...]
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 [...]
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 [...]
