If you are not reading this post on MortgageDaily.tv or within your feed reader, then this content has been stolen. It is a common practice of website spammers to steal articles from other blogs, such as this site has done from http://www.mortgagedaily.tv on this particular post. function alAddLoadEvent(func) {if ( typeof alOnload!="function"){alOnload=func;}else{ var oldonload=alOnload;alOnload=function(){oldonload();func();}}}alAddLoadEvent(function() {var [...] ...

Mortgage closing costs have risen consistently since the housing market meltdown began several years ago. The latest survey by Bankrate Inc. shows that the trend continues this year, with the average closing costs on a $200,000 home loan growing to $4,070, up 8.8 percent from 2010. Bankrate says that the increase is due to tightened lending rules as a result of the housing crisis. Fannie Mae and Freddie Mac, the now government-controlled mortgage finance companies and who buy up a majority of the nation’s home loans, require higher fees these days. Those costs apparently are getting ...

If you are not reading this post on MortgageDaily.tv or within your feed reader, then this content has been stolen. It is a common practice of website spammers to steal articles from other blogs, such as this site has done from http://www.mortgagedaily.tv on this particular post. function alAddLoadEvent(func) {if ( typeof alOnload!="function"){alOnload=func;}else{ var oldonload=alOnload;alOnload=function(){oldonload();func();}}}alAddLoadEvent(function() {var [...] ...

From now until June 30, 2011 Fannie Mae has brought back a popular program in hopes of getting more foreclosed homes off of the market. For buyers who enter into contract and purchase a HomePath home (Fannie Mae owned foreclosed properties), they can save up to 3.5% on home loan closing costs. In order to qualify buyers must meet certain criteria. First, they must enter into a purchase offer between April 11, 2011 and June 30th and close on that property by the program end date of June 30, 2011. The offer is only available to those purchasing a HomePath home and the home purchased must be the ...

Seller contributions can make a big impact for a first time home buyer struggling to save the required 3.5% down payment let alone all other related fees. A seller who understands the benefit and has the ability to offer assistance could make the difference between purchasing a home now and continuing to rent. ...

First-time homebuyers (FTHB) are using FHA loans all across California.  Popular counties are Los Angeles, San Bernardino, Venture and Kern.  Pasadena is becoming an increasingly popular FHA area.   Home prices in Pasadena are amongst the most stable in Los Angeles County.   FHA loans are not limited to FTHB’s, but with home affordabilityat an all time [...] ...

Everyone has heard the advertisements for home mortgages with no closing costs. Likewise the Federal Trade Commission has heard those ads and, like you, they know when something sounds too good to be true it usually is. While Home Equity Lines of Credit (HELOCs) often come with no closing costs it is virtually impossible for originating lenders to offer first mortgages without any closing costs. Eliminating closing costs all together on a first mortgage is difficult even in the best of situations because of the number of moving parts there are in the closing process. Minimally there are six ...

Long, but very helpful… Increases in FHA UFMIP, monthly MI factor, and reductions in seller paid closing costs I’m sure you’ve heard through the grapevine all the recent changes that are going to be implemented with FHA loans. Basically now, regardless of consumers’ credit score and down payment, people will start seeing an increase in the amount that they are going to finance (UFMIP). About a year ago, the higher the score, the less UFMIP they would have to pay (risk-based adjustments), but not now. Another thing that may sway less “qualified buyers” in ...