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are the rumors true?
The past several years have brought so many changes to the mortgage and real estate industries, it is hard to keep track of everything. With that in mind, it is natural for rumors to get started.. “I...
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3% down conventional loans are back!
It has been about two and a half years since a conventional loan was available in Georgia with less than a 5% down payment. Those days are gone with Fannie Mae now allowing the FLEX 97 loan program....
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Even more changes to FHA loans
In my previous post, we discussed an FHA change that is soon to be implemented. There are a couple more being proposed or recently approved, which include: Reducing seller contributions to closing...
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FHA Exhausts Reserves
It finally happened… FHA and the Department of Housing and Urban Development are reporting their reserves are now exhausted with a loss coming at the end of the 2012 fiscal year. It was bad enough at...
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3% down going away (for now)
What does a dinosaur, a Dodo bird, and a 3% down payment conventional loan have in common? They are all extinct. Beginning on November 16, 2013, conventional loans with a 3% down payment will go the...
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Mortgage Insurance
Last time our videos focused on the monthly mortgage payment. Today, we will focus on something that could be part of a monthly mortgage payment – mortgage insurance. There are a lot of components...
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Government impact on housing
Sometimes the government gets involved in areas, and things get worse. Here is one area where inaction would be really bad – flood insurance. On the last possible day, Congress avoided a lapse in the...
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More potential changes to FHA loans
I’ve thrown up a posts over the past couple of months (here and here) about potential changes for condo purchases using FHA loans. How about a change on FHA loans that is beneficial for everyone! A...
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Appraiser requirements change for FHA loans
The House Financial Services Committee has passed a bipartisan bill related to FHA loans in hopes of making it easier for home buyers to use FHA loans to purchase a home. One change I’ve personally...
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FHA finally makes a change to mortgage insurance
FHA finally reduces the amount borrowers will pay on a monthly basis for mortgage insurance. This is something the writers here at The Mortgage Blog have clamored about for years now. What exactly did...
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