Posts Tagged: Mortgages

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What It Takes To Get A Mortgage: Required Documentation

Buyers often wonder what bureaucratic torture they are going to be subjected to in order to obtain a mortgage. Therefore, I asked Russ Martin of Perl Mortgage to explain the required documentation for a mortgage application. In general, a conforming loan (i.e. conforms to the guidelines established by Fannie Mae and Freddie Mac) will require… Read more

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The Good And Bad Of Recent FHA Changes

FHA has been a popular financing option for condos because of the tightening mortgage guidelines on conventional condo financing and because of the FHA’s low down payment requirement. Currently representing 30 – 40% of the mortgages, any changes to this program can have a huge impact on the housing market. And one such big change… Read more

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More Mortgage Rate Predictions

As a follow up to my earlier post on the direction of mortgage rates I thought I would share the gist of a post from the Calculated Risk blog that appeared earlier today on the very same subject – Expected Mortgage Rates. In this post, Bill McBride concludes that when the Fed stops buying mortgage… Read more

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New FHA Condo Approval Rules Delayed Yet Again

First it was going to be October 1, then November 2. That’s when new FHA condo approval rules were going to be implemented. Now it’s December 7. I know it’s shocking but the government just can’t seem to get their act together – in this one rare instance. One of the more significant items we’ve… Read more

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Real Estate Appraisal Nightmares

Gary’s Note: There have recently been issues with real estate deals not appraising at their contracted price. The article below, provided by Marc Jacobs of A&N Mortgage, explains some of the reasons why. Today I wanted to discuss the Home Valuation Code of Conduct (HVCC), which went into effect May 1st of this year.  While… Read more