Entries by jadams

USDA Announces Funding Fee Changes Effective October First 2015

USDA mortgage loans are so popular (especially in Georgia Florida and Alabama) because they allow first time or subsequent homebuyers to purchase a primary residence with no money down and with low monthly payments. The USDA National Office just announced on June 16, 2015 that effective with guaranteed loan obligations on or after October 1, […]

VA Renovation Loans for distressed and dated properties

Veterans can buy distressed real estate using their VA benefit. An exclusive product at imortgage for veterans today is available for VA renovation lending. Veterans can buy a home in almost any condition and deal with repairs after closing with this product. Many agents and customers alike have had the question: ”is there a 203k […]

Fannie Mae Ready Buyer and Homepath incentives

We are making waves from Amelia Island in Fernandina Beach Florida today talking to you today about Homepath. Fannie mae has all of their foreclosure homes for sale online at www.homepath.com . The no longer has the Homepath Financing but do have a new buyer incentive program for first time homebuyers to encourage them to […]

Renovation Loans Let You Get All Your Projects Done Upfront

Renovation loans are a hot topic! Most borrowers try to figure out how to do as little renovation work in the loan as possible to meet minimal appraisal standards and keep the loan amount down. Some want to save some work for after closing for themselves to do but several renovation loan customers have buyers […]

Why buyers want a renovation loan

John and Tu are in North Shore in Jacksonville Florida this week for the renovation minute. They are talking about opportunity for people to be able to find homes with some scratch and dent quality that allows you to win on equity and customization. Most ready to move in homes right now are going quick […]

VA Renovation Loan Exists! similar to FHA 203k and Homestyle

Va renovation loans? They are here finally! Join John Adams Tu Mullins and John Meadows as they discuss the details of what Va renovation looks like from the only company that is doing it! Veterans can now use their benefit to purchase and get improvements inside of their mortgage for purchase or for refinance. Learn […]

Renovation loan tips for FHA 203k, Homestyle, VA Renovation

On this renovation minute we have three tips this week on how to make your renovation loan a success. 1. Get up close and personal with your contractor. Collect all documents as well as the bid and make sure they have the administrative competency to get you the documents the process demands quickly. 2. Consult […]

FHA MIP Decreases! Great news for 203k renovation loans

By Presidential order the monthly premiums on FHA loans were reduced for case number after January 26th, 2015. This is great news as it lowers payments and can qualify more borrowers for home. For Renovation loans, especially 203k loans this means you can qualify for more repairs or pocket the savings. Please read the FHA […]

Three ways Freddie Mac can save a loan

 Thanks for joining us on the renovation minute. We are bringing you three ways to help keep transactions together with Freddie Mac. 1. For self employed borrowers on Freddie they now only require one year of tax returns to income qualify instead of having to average two full years 2. The schedule most folks use […]