In February of this 2010, an important change was made that could have repercussions for many condominium and town-home associations. Now entire associations must become FHA certified before purchasers can buy into their developments. Because almost one-third of buyers today use FHA loans, this change can have a drastic effect on the marketability of units in your association. Owners and board members need to be aware of this change and realize the effect it could have. If an association is not FHA certified, many buyers have to look elsewhere. We all know that todays real estate market needs as many
Continue readingTag: FHA
Reverse Mortgage-the Convenience Of Loan Repayment For Old Age
We are familiar with the term mortgage which is a necessary financial factor for those who are having less finance with them while buying a home. On the other hand, reverse mortgage is a similar kind of financial benefit received by the homeowners who are in the retirement age. Here they will be able to obtain the finance against their home as mortgage and they will not be paying anymore amount until the sale or death of the borrower. In California, the reverse mortgage needs are properly managed and taken care by one of the CA reverse mortgage lenders called
Continue readingInterested In A Condominium Get A Fha-insured Loan
Mortgage Insurance for Condominium Units (Section 234(c)) program assists potential homeowners in purchasing a home in a condominium development. The prospective condominium must be the potential homeowner’s primary residence. The intent of this federal program managed under the U.S. Department of Housing and Urban Development (HUD) is to insure the loan of a borrower who buys a unit in a condominium property. HUD does not directly provide loans to borrowers. Instead, HUD insures loans through FHA-approved lenders. Some of those who take advantage of the program are low- to moderate-income renters who want to buy their unit in order to
Continue readingAvail Milwaukee Mortgage Loan At Good Rates
Apply for the Milwaukee mortgage loan and avail the various benefits offered by it. When you are planning to buy a home then there are a lot of procedures involved in it and also the availability of finance is a very essential part when you are planning to buy a home. The problem of finance can be solved with the Milwaukee mortgage loan provider you just need to visit the website and you will be able to avail the best loans and deals which will help you to buy your dream house. All your requirements will be fulfilled with these
Continue readingIts Important For Your Condominium Community To Be Hudfha Approved
The Feds changed the game. You now need to be HUD and FHA approved before your condominium community can offer FHA loans to your buyers. Once your complex is approved you must be recertified every 2 years. If your condo community is not HUD/FHA approved you are missing out on a lot of buyers. For people who can’t qualify for conventional loans the FHA loan program is the answer. According to DQ News in April 2011 – 33.4% of the purchase mortgages used in 20 of the largest metro areas were FHA-Insured and the November 2010 Realtors Confidence Index reported
Continue reading