For the past year a mid-score of 620 was required to fund a loan. Currently a mid-score of 580 would qualify for a FHA loan due to a shift that lenders are making to make FHA available to borrower’s with less than perfect credit scores. Loans with mid-score of 580 are tightly underwritten. FHA loans [...]
ShareIn This Issue Last Week in Review: News from “over there” helps Stocks over here. Forecast for the Week: Manufacturing and inflation news heat up the headlines… and could rock rates. View: What do you need to know about your gas and electric bills? Special Video View! Last Week in Review Click here to read [...]
ShareJumbo loan guidelines are beginning to loosen up for borrowers who need loans up to 900,000 in Arizona, California, and Florida. Some lenders are not allowing loans up to 80%. loan to value for purchase and rate and term refinances. Guidelines will continue to be tight to insure borrower’s ability to repay debt and maintain [...]
ShareThe WISH Program, a down payment assistance program, aids First Time Home Buyers in Pima County who are at 80% or below of the median income levels. The Down Payment Assistance matches the buyers down payment 3 to 1. For every $1,000 the buyer makes towards the down payment, the WISH program will provide an [...]
ShareIndependence Day I hope you and your family enjoyed the Independence Day holiday weekend. And, I sincerely hope you have been enjoying your complimentary subscription to the MORTGAGE MARKET GUIDE WEEKLY. Due to the July 4th holiday, the next full issue will arrive on Monday, July 12. In the meantime, check out the article below [...]
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