FHA seller concession rules
June 2, 2010 by Jeff Thomas · Leave a Comment
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 [...]
Age Old Debate: Payoff Your Mortgage or Invest?
March 23, 2010 by Jeff Thomas · Leave a Comment
Why Payoff Your Mortgage
Fairfax, Virginia: Homeowners have been arguing this point since the invention of mortgages many years ago. Should a homeowner payoff their mortgage faster in order to save interest? Or should the homeowner invest that money into 401-K and other retirement vehicles to accumulate more money for retirement? The true answer lies in [...]
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 [...]
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 [...]
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 [...]
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 [...]
