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Mortgage and Lending - Guaranty Bank & Trust Co - NMLS ID #68160
RECENT BLOG POSTS
Per FHA Mortgagee Letter 2012-03, FHA will be adopting a few more changes effective 04/01/2012.  One of the changes is regarding collection accounts.  This could impact many borrower’s ability to qualify or possibly delay a borrower in qualifying for the FHA loan.   Excerpt below:                ...
03/06/2012
As you may know by now,  FHA mortgages are about to get a bit more expensive. In its announcement, the FHA said it would increase its annual mortgage insurance premium by 0.10 of a percentage point for loans under $625,500, which would now cost 1.25 percent of the loan amount, up from 1.15 percen...
02/29/2012
  Effective 01/18/2012, the Household Income Limits were increased for the USDA Guaranteed Rural Housing loan for the State of Mississippi. 1-4 person household:  $74,750 (increased from $74,050.00) 5-8 person household:  $98,670  (increased from $97,750.00)   This applies to ALL Mississippi Coun...
01/26/2012
If you are interested in purchasing a new home, then don't forget about the Home Loan Plus Grant!  The MS Home Corp Home Loan Plus provides grants up to $14,999.00 to qualified low income individuals to purchase homes. Currently, there is over $3.4million available for grants.  Restrictions and ...
12/13/2011
    The MS Home Corp Home Saver program assists homeowners by making mortgage payments who have lost their job or experienced a reduction in income through no fault of their own due to the economy and are at risk of default or losing their home to  foreclosure.  Restrictions apply.   Click the fo...
12/05/2011
    54th Annual Hernando Christmas Parade   DATE: 12/5/2011 (Postponed until 12/12/11) TIME: 6:30 PM to 8:30 PM Join us for the Hernando, MS 54th Annual Christmas Parade, which will feature more than 100 entries with floats, cars, marching bands, horses, fire trucks and of course, Santa! This yea...
12/01/2011
Finally some good news for Veterans! On November 21, 2011, the President signed HR 674 which reduces the VA Funding Fees associated with VA Home Loans. This new fee structure will be in effect for loans closing after 11/22/2011 until 09/30/2016. This will help reduce costs for Veterans purchasing...
11/29/2011
  The USDA Guaranteed Rural Housing (GRH) loan program has seen some recent changes which became effective 10/1/2011 – decreasing the Funding Fee back to 2.00% and the implementation of a new Annual Fee (much like monthly mortgage insurance).  Even with these changes, the USDA GRH loan is one of ...
10/10/2011
USDA UPDATES   USDA has advise in an unofficial memo, that effective 10/1/2011, USDA will not issue “subject to conditional commitments” as they normally do every year. They have funds that will last through the end of the month, so all loans with conditional commitments by 9/30/2011 will be ok, ...
09/30/2011
Some good news...  VA will be reducing the funding fees for Veterans.    Changes to VA Funding Fee        Subsequent Use of Entitlement for all:   ·         Loans closed from 10/01/2011 – 09/30/2012 = 2.8% ·         Loans closed from 10/01/2012 – 09/30/2013 = 2.15% ·         Loans closed on and a...
09/12/2011
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DougCapps

MMS, CLO, CRMS
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