$8000 FTHB Tax Credit Cannot be used For Downpayment As of Today The SECRETARY of HUD made an announcement Monday and a HUD/FHA letter was published on the website Monday night stating the the $8000 … [Read more...]
$8,000 Tax Credit Towards FHA Downpayment
HUD Secretary Donovan appeared at a NAR yesterday, and this is an exact excerpt of his remarks: "We all want to enable FHA consumers to access the tax credit funds when they close on their home loans … [Read more...]
How is the Government going to get mortgage rates down to 4%?
Too often, the media passes over a story and doesn't do a good job explaining HOW. Sometimes the "HOW" is more simple than we expect, but if so, take a minute to mention it. The question, "how is the … [Read more...]
Builders In House Mortgage Relationships Soon To Be Changed
Builders have been a big problem over the years with dangling incentives for potential buyers to use their affiliated mortgage company. Nothing was more aggervating than to lose a loan after I have … [Read more...]
100% Financing, Zero Down Payment, Texas Home Buyers
If you would like to see what your AMI (Average Median Income) per your location is to see if you qualify for this loan, please click on the following Hyper Link. Most cities in and around the Dallas … [Read more...]
Down Payment Assitance and Credit Certificates
Is down payment assistance gone? No, there are plenty of areas around Dallas, Frisco, Plano, McKinney, and Irving that have available "moneys" that are qualified to use as down payment assistance … [Read more...]
Converting Existing Home to Rental to Qualify for New Purchase
Assistant Secretary of Housing for FHA, Brian Montgomery, announced a new plan to govern against the "buy and bail" issue so prevalent in our industry today. Recently, FHA and others in the mortgage … [Read more...]
FHA Down Payment Requirement Increases…Effect First Time Home Buyers in Frisco
It's been talked about and it's not necessarily brand new information, but FHA down payment requirement is going up to 3.5%. No longer will closing costs be considered as part of the amount of money … [Read more...]
