Mini Mortgage Questionaire
Posts By Lynda Mckenzie
Rhode Island homebuyers should expect to pay more mortgage insurance on mortgages guaranteed by FHA.
Homebuyers and homeowners in Rhode Island and other states, should expect to have their annual mortgage insurance premiums increase on new purchases and refinances on loans guaranteed by FHA. (Federal Housing Authority)
On June 10, 2010, The House of Representatives approved by a 406-4 vote the Federal Housing Administration Reform Act, a law designed to put the agency on firm [...]
All of Rhode Island, Rhode Island - 401-524-9796
Time is running out for Rhode Island Home Buyers to take advantage of the 2010 Tax Credit.
All of Rhode Island, Rhode Island - 401-524-9796
First-time home buyers looking to purchase a home in Rhode Island, are eligible for up to 10% of the home’s purchase price, up to the maximum $8,000 tax credit just for buying a home.
The latest stimulus package signed by President Obama makes these credits available to first-time home buyers on homes purchased between January 1, [...]
All of Rhode Island, Rhode Island - 401-524-9796
With historic rates and property values so low, many Rhode Island borrowers are looking to purchase a “fixer up”. Below is a streamlined 203k limited repair guide prepared to assist you in the process.
1. Make offer on home contingent on buyer being approved for renovation loan. The sales agreement should be the purchase price plus [...]
All of Rhode Island, Rhode Island - 401-524-9796
Rhode Islanders still have the opportunity to get 100% financing through the USDA program, also known as the “rural homes program”. The United States Department of Agriculture (USDA) offers two different types of programs; one called the Guaranteed Rural Housing (GHR) mortgage and the other Direct rural home mortgage.
The Direct program is offered directly through USDA to [...]
All of Rhode Island, Rhode Island - 401-524-9796
Buyers looking to purchase a home in Rhode Island will face new changes this spring. According to an article in the Wall Street Journal on January 19, 2010, FHA is planning many changes.
1. UFMIP to go to 2.25% from 1.75%.
Currently FHA charges what is known as an upfront mortgage insurance premimum. This amount is typically [...]
All of Rhode Island, Rhode Island - 401-524-9796
Great news for Rhode Islanders looking to purchase a home through FHA, the “90 day seasoning flip rule ” has been temporarily lifted by FHA. This change will allow buyers in Rhode Island to use a FHA Mortgage when purchasing investor and bank owned properties that have been owned for less than 90 days by the seller.
On [...]
All of Rhode Island, Rhode Island - 401-524-9796
If you are looking for a great deal on a property in Rhode Island, a HUD owned property may be the one for you. A HUD home is considered a 1 to 4 unit residential property aquired by the Housing and Urban Development as a result of a foreclosure action on an FHA-insured mortgage. HUD then becomes [...]
All of Rhode Island, Rhode Island - 401-524-9796
On Friday, November 6, 2009, President Obama signed the Worker, Homeownership and Business Assistance Act of 2009, commonly known as H.R. 3548, extending the $8,000 tax credit to first-time homebuyers. What residents of Rhode Island might not know, is that you do not need to be a first-time homebuyer to get the tax credit.
Under H.R. 3548 bill, [...]
All of Rhode Island, Rhode Island - 401-524-9796
Welcome To My FHA Blog
Search For Lenders
Recent Contributors
