The Right Way To Take A Cash Gift For Downpayment
As lenders tighten mortgage guidelines for Indianapolis home buyers, minimum downpayment requirements are increasing. Several years ago, you could finance a home with nothing down.
Today, most conventional mortgages require at least 10 percent....
Posted by Paula Henry on May 28, 2010 in Mortgage News and Info
New FHA Guidelines Will Make Loans More Costly
Securing an FHA mortgage is about to get more expensive when buying a home in indianapolis. In a statement issued Wednesday, the Federal Housing Authority outlined policy changes to its mortgage assistance program. The shift is meant to both reduce ...
Posted by Paula Henry on January 21, 2010 in Mortgage News and Info
How Job Losses In The Economy Are Helping Home Affordability
On the first Friday of each month, the Bureau of Labor Statistics releases its Non-Farm Payrolls report. More commonly, it's called the 'jobs report'. The jobs report is a sector-by-sector look into the U.S. economy and whether businesses ...
Posted by Paula Henry on July 3, 2008 in Mortgage News and Info
Why It Will Be Cheaper And Easier To Buy A Home This Week Versus Next Week
Mortgage financier Fannie Mae is toughening its mortgage application decision-making process effective Monday, June 2, 2008. The new guidelines will force many Americans to face higher mortgage rates, higher loan fees, or to be shut out from ...
Posted by Paula Henry on May 29, 2008 in Mortgage News and Info
Simple Real Estate Definitions : Loan-to-Value
Loan-to-value is a math formula that represents the relationship between how much a home is 'worth' and how much money is borrowed against it.
Loan-to-value is often abbreviated as 'LTV' and is one of the many factors that lenders consider when ...
Posted by Paula Henry on March 7, 2008 in Real Estate Terms
Did You Know : The Lifespan Of A Mortgage Approval
Mortgage approvals don't last forever. A conforming mortgage approval from Fannie Mae or Freddie Mac has a shelf-life of 120 days. After 120 days, the approval expires and a mortgage applicant must re-submit his application for ...
Posted by Paula Henry on February 7, 2008 in Mortgage News and Info