Bonds Started Lower Again Today
December 13, 2010 by Jeff Thomas · Leave a Comment
The 10 yr note overnight it 3.39% +7 basis points from Friday’s close, a little improvement by 9:00, at 3.36%. Mortgage prices at 9:00 down 6/32 (.18 basis points) from Friday’s close. Looks more and more likely that the 10 yr may eventually drive to 3.50%. The exit from fixed income investments at those low yields is not over [...]
Federal Housing Administration Reform Act
August 11, 2010 by Jeff Thomas · Leave a Comment
Fairfax, VA – The House of Representatives approved the Federal Housing Administration Reform Act. The purpose of FHAR is to bring stability to the FHA lending program. Currently, FHA loans make up about 30 percent of the loans originated in the US. This is a far cry from early to mid 2000’s when real estate [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
Homebuyer Tax Credit and IRS Form 5404
January 24, 2010 by Jeff Thomas · 3 Comments
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 [...]
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 [...]
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 [...]
