Rebecca Semb's (rebeccaisner) Blog

If you buy a Fannie Mae home that states it qualifies for Home Path financing you can purchase the home for 5% down payment and have NO mortgage insurance premium.  They also offer this financing as a renovation loan that you can include up to 20% or $30,000 to fix up the home. To make this deal ...

FHA will increase the up-front mortgage insurance premium on April 5, 2010 to 2.25%. The new premium is effective for all purchase and refinance transactions.  This is an increase of .5% over the current up-front MIP. On a $200,000 loan, this is a difference of $1,000.      

 If you can afford a mortgage loan, but lack the resources for the down-payment and closing costs involved with purchasing a home this Loan Program may be able to help.  The Loan Program offers affordable mortgage loan options, designed to help you purchase a home with little money out of pocket....

Lenders are now updating their guidelines to eliminate the declining market requirements.  Earlier this year most lenders and PMI companies put on a 5% reduction to Loan-to-Value requirements due to the Declining Market Status. This is great news for the First Time Homebuyer as well as anyone who...