New changes have been made to the HARP loan program raising the maximum loan-to-value for refinancing from 105% to 125%. This is beneficial for homeowners who are upside down on their home value hoping to refinance but lack the necessary equity for a traditional refinance. I’ve found that one of the best benefits to [...]
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Last week I had predicted we may see a spike in interest rates. Unfortunately, this became more true than I expected. We’ve lost over 200 basis points on the Fannie Mae 4% coupon since the opening day Thursday. We’re past any major news affecting rates and we’re currently just riding the trend wave. [...] I’ve been following the development of the government working on a Down Payment Assistance program using the $8,000 Federal Tax Credit to pay back the DPA for a month or so now. News finally broke that this was available only to be rescinded shortly after. [...] I’ve watched my own applications for first time home buyers jump significantly over the last few months. Today, MSNBC posted an article in regards to this very matter. View Article… That may be an exaggeration, but there are new Fannie Mae and Freddie Mac loan programs that help homeowners refinance if they don’t have equity in their home or if they’re buying a house owned by Fannie Mae or Freddie Mac. [...] |
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