Renae Walker ~ Real Estate Agent
I work hard for myself and even harder for my clients.
FHA Unveils Rules on Post Payment Charges, ARM Adjustments From DSNews.com 8/26/14 The Federal Housing Administration (FHA) announced on Tuesday the passing of two new rules—one that prohibits lenders from charging interest on FHA-insured mortgages after the date they're paid in full and one that requires lenders to give borrowers earlier access to information regarding FHA-insured adjustable-rate … Continue reading New FHA Rules
Buying your first home is a major move, so why not make a detailed plan of action? From Yahoo.com 8/22/14 How to buy a home in one year Are you planning on buying your first home but don't have a plan for doing it? That may be a mistake, because there are a lot of … Continue reading A one-year plan to buying your first home
What matters more to housing: Price or rates? From CNBC.com 8/26/14 Mortgage rates are the wild card as the housing recovery enters the fall season, with buyers sensitive to the slightest moves. There has long been a saying in the real estate market that potential homebuyers don't buy according to the home price or the … Continue reading Housing Pricing or Mortgae Rates?
How to fix your credit score when buying a home From Credit.com 8/25/14 If you have been turned down for a mortgage or quoted rates and fees that seem too high, you may have some homework ahead. The minimum credit score to land a mortgage is 620. If you have the capacity, and are in … Continue reading Fix Your Credit
Why New FICO Score Rules Could Be a ‘Game-Changer’ In Helping You Obtain a Loan From Motley Fool 8/23/14 Some 64.3 million U.S. consumers who have at least one medical debt on their credit report woke up to a healthy dose of good news on Friday that the Fair Isaac Corp. (FICO) — which lenders … Continue reading New FICO Rules, Game Changer
From Housing Wire 8/15/14 When Lobbying Hurts the Industry More than It Helps This analysis would not be complete without addressing the many frustrations we heard from people wishing the good old days would come back. We believe those who share these complaints are hurting the mortgage recovery because they provide ammunition for the … Continue reading The Truth About Mortgage Underwriting Pt.3
From Housing Wire 8/15/14 Easy Money through FHA FHA federally insures 95%+ loan-to-value (LTV) mortgage loans made to people with poor credit and low incomes. FHA market share Here are three recently approved loans, all through FHA or VA: Recent foreclosure. 96.5% loan on a $170,000 house, coupled with $36,000 in … Continue reading The Truth About Mortgage Underwriting Pt.2
From Housing Wire 8/15/14 The truth about mortgage underwriting Some mortgages shouldn't be denied The world is awash in inaccurate sound bites related to mortgage credit. We spoke with numerous industry executives and identified three truths that need to be clarified: 1. Low income buyers actually have it easy. Buyers with poor credit and low … Continue reading The Truth About Mortgage Underwriting Pt.1
Community Builder or Divider? From National Mortgage News 8/22/14 The benefits of homeownership are often cited in policy debates, though it has some downsides. Following are the advantages and costs of homeownership for neighborhoods and communities, as summarized in a recent research paper by Jason Fichtner and Jacob Feldman at George Mason University. Plus: Better … Continue reading Homeownership’s Pluses and Minuses
Owning a Home ‘Very Important’ to Nearly Half of Single Buyers From DSNews 8/20/14 Almost half of single homebuyers aged 25 to 50 reported that it was "very important" to them to own a home, according to Century 21's Singles Homebuyer Survey released on August 20. Three quarters of single homebuyers in that same age … Continue reading Home Ownership Important
