FHA seller concession rules
June 2, 2010 by Jeff Thomas · 2 Comments
The Federal Housing Administration (FHA home loans in Virginia) is eliminating one of the mainstays to its program sometime this summer. Gone will be the 6 percent seller concession and in will be the 3 percent seller concession. The reason for eliminating the concession according to FHA is the 6 percent seller concession exposes them [...]
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 [...]
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 [...]
Converting A Primary Home To An Investment Property
November 13, 2009 by Jeff Thomas · Leave a Comment
I have clients all over the northern Virginia area. Recently two similar calls from clients that live in Alexandria and Vienna . Both had a question about keeping their current home as a rental when buying another primary home. As simple as this question may seem, it is much more complicated when trying to qualify for a [...]
