2012 Is Here
January 6, 2012 by Jeff Thomas · Leave a Comment
Forecasting What May Be Ahead for Home Loan Rates Fairfax, VA – The good news–despite what the Mayan calendar may say–is that the world probably won’t be coming to an end in 2012. But like 2011, this coming year may bring some significant challenges here in the US and around the world. Read on to [...]
New FHA Flipping Regulations
December 27, 2011 by Jeff Thomas · Leave a Comment
Fairfax, VA – FHA lenders had reason for cheer and mirth at the end of last week. “In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Acting FHA Commissioner Carol Galante will extend FHA’s temporary waiver of the anti-flipping regulations.” With certain exceptions, FHA regulations prohibit insuring a [...]
The Scoop on Inflation And Its Impact on Home Loan Rates
November 4, 2011 by Jeff Thomas · Leave a Comment
Fairfax, VA CPI, PPI, PCE…sounds like a nice bowl of alphabet soup. But did you know that what lies behind these letters impacts not only YOU every single day…it also bears a very heavy influence on the direction of home loan rates? So pull up a chair, grab a spoon, and let’s dig in to [...]
Preparing to Buy Again after BK, Short Sale or Foreclosure
September 6, 2011 by Jeff Thomas · Leave a Comment
Fairfax, VA – You will most likely need to wait. Unless you can find a local program that allows a BK, small bank, or credit union that will hold the mortgage on their books.The BK guidelines have become more strict over the past couple of years since the losses started to mount for FHA, VA and [...]
What happens to my loan if the government shuts down?
July 19, 2011 by Jeff Thomas · Leave a Comment
Fairfax, VA – When was the last government shutdown? 1995 was the year. What happened? It was very painful to get through, but no one panicked. And we shouldn’t panic this time. I can assure you 1st Commonwealth Bank of Virginia has prepared all of the loans in our pipeline and we preparing for a [...]
When the property is an FHA “flip”
July 19, 2011 by Jeff Thomas · Leave a Comment
Fairfax, VA – When the property in question is an FHA flip. Seller has been on title for less than 90 days. If the sales price is 20% or more above seller’s acquisition cost and the increase in value is due to improvements/renovation to the property: 1. The appraiser is required to verify the repairs [...]
I’ve Got 4 Key Questions about Your Home Loan Situation
June 13, 2011 by Jeff Thomas · Leave a Comment
Fairfax, VA – The start of summer is nearly here, which means things like baseball, hotdogs, and apple pie are on our minds. But that’s not all the arrival of summer means: 2011 is almost halfway over. That makes now the perfect time of year to make sure your home loan is working for you. [...]
What Should You Expect in 2011, Part 2
February 5, 2011 by Jeff Thomas · Leave a Comment
Fairfax, VA – Forecasts for Inflation, the Housing Market, and Home Loan Rates What’s ahead for inflation, the housing market, and home loan rates this year? Read on to find out. Inflation One of the major topics that we need to watch in the coming months is inflation. The Fed and the markets keep a [...]
What Should You Expect in 2011, Part 1
January 10, 2011 by Jeff Thomas · Leave a Comment
Forecasts for the Economy and Employment – Their Impact on the Housing Market Fairfax, VA – The economy and housing markets have seen some rough times the last couple of years. But the good news is last year we saw some stabilization in 2010 – and 2011 should continue on the road to recovery. To [...]
Interest Rate Info – December 30 2010
December 30, 2010 by Jeff Thomas · Leave a Comment
Movements in the economy, good or bad, up or down, move interest rates up and down through out each trading day. Jobless claims is one of the reports that moves interest rates up or down. Today’s jobless claims number came in significantly lower than expected. Jobless claims came in at 388,000 lower than the expected [...]
Home (of Your Own) for the Holidays?
December 24, 2010 by Jeff Thomas · Leave a Comment
Now May Be the Perfect Time to Buy Fairfax, Virginia: There’s no place like home for creating memories. And no place like home for the holidays. While it may sound a bit crazy to add this to your shopping list…this holiday season could be the very best time in history to give yourself the gift [...]
FHA loans – Changes are here
August 2, 2010 by Jeff Thomas · Leave a Comment
Fairfax, VA – With the increased role FHA has taken in the lending world since 2007, FHA has experienced an increase of foreclosures which caused FHA to tighten lending guidelines, increase down payment requirements and institute minimum credit score requirements to qualify for an FHA loan. Here are some changes that have been made or are on [...]
First-time homebuyer tax credit extended
July 14, 2010 by Jeff Thomas · Leave a Comment
The Homebuyer Assistance and Improvement Act of 2010 extends the closing date requirement for the first-time homebuyer tax credit from June 30, 2010, to September 30, 2010. This gives qualifying individuals who, prior to May 1, 2010, entered into a binding written contract to purchase a home, an additional three months to close on the [...]
The First Two Steps in Buying a Home
June 1, 2010 by Jeff Thomas · Leave a Comment
Fairfax, VA – Statistics suggest that the Internet is the first destination and source of information for potential home buyers. In fact, nearly 80% of potential buyers reportedly begin their home buying process online. And why not? The Internet has a wealth of information and resources that can aid in the beginnings of the home [...]
Home Buyer Tax Credit Extended for Military Personnel
June 1, 2010 by Jeff Thomas · Leave a Comment
Fairfax, VA – The popular Home Buyer’s Tax Credit has expired for all Americans, except for three very deserving groups: the brave men and women of the uniformed services of the U.S military, members of the Foreign Service of the U.S., or employees of the intelligence community who are actively serving outside of the U.S. [...]
