In late June, the U.S. Department of Housing and Urban Development (HUD), in conjunction with NeighborWorks® America, launched the Emergency Homeowners’ Loan Program to help homeowners who are at risk of foreclosure in 27 states across the country and Puerto Rico; in the Northern Virginia area, funds are being disbursed via VHDA, which expects to be able to help about 1200 homeowners via interest free loans which pay a portion of their monthly mortgage for up to two years (capped at $50,000). The deadline for applications is 7/22/11, so homeowners in distress are encouraged to apply ASAP. Read the rest of this entry »

Are you looking to finance construction of a church or refinance an existing church? Ethical Homes has partnered with a variety of wholesale lenders who focus on church loans, and can provide a wide array of financing options for churches needing mortgage financing, including many with features that most other lenders might not provide. Read the rest of this entry »

One of the advantages of working with the Ethical Homes team for your mortgage is that we can originate loans from many different wholesale lenders, including most of the large retail lenders; since those lenders know that they are competing against each other for our clients business, they actually give us better pricing than they give their own in-house loan originators, and since we do have such a wide array of wholesale lenders, we also have a great deal more flexibility than most other lenders in being able to match our borrowers up with wholesale lenders whose guidelines match up with our borrowers’ specific needs.

Some of our clients are interested in just which wholesale lenders we work with; our list of wholesale lenders changes frequently, but here is a snapshot of some of our current residential wholesale lenders, as of May 05, 2011:

• Allied Capital
• American Financial Resources
• American Partners Bank
• Bismark Mortgage
• Caliber Funding
• Cardinal Financial
• Century Lending
• Chase Rural Housing
• Citimortgage
• Classic Home Financial
• CMG Mortgage
• Crestline Funding
• Direct Mortgage
• Eastern Savings Bank
• Everbank Wholesale Lending
• Fifth Third Mortgage
• First Community Mortgage
• First Federal
• First Guaranty Mortgage Corp (FGMC)
• Flagstar
• Franklin American Mortgage
• FPF Wholesale
• Freedom Mortgage
• Gateway Mortgage Group
• GMAC
• Guaranty Trust
• HCI Mortgage
• Home Savings OF America
• Icon Residential
• ING Mortgage
• JMAC Lending
• Just Mortgage
• Luxury Mortgage Corp.
• Maverick Funding
• M&I Home Lending Solutions
• M&T Bank
• MET Life Home Loans
• MFG Banking
• MID Island
• MNET
• Mortgage Services (MSI)
• Myers Park Funding
• Nationstar Mortgage
• Normandy
• NYCB (formerly Amtrust)
• Ocean Bank
• Pacific Union Finance
• Peoples Home Equity
• Plaza Home Mortgage
• Polaris
• Provident Funding
• Real Estate Mortgage Network, Inc.
• SC State Housing Finance
• Sidus Financial
• Sierra Pacific Mortgage
• Stearns Lending
• Sterling Lending Group
• Suntrust Mortgage, Inc.
• Trust One
• United Wholesale
• University Lending Group
• US Bank
• US Bank Consumer Finance Division
• US Mortgage Finance Corp.
• Walker Jackson
• Wells Fargo Home Mortgage

This list is automatically generated, so it may not include all of the residential wholesale lenders with whom we work; it also does not include any of the commercial or agricultural lenders in our portfolio.

Interested in applying to get your condo development approved for FHA financing? Here’s a quick overview of the documents necessary to submit your application. Read the rest of this entry »

In late 2009, HUD announced a new process for approving condo developments to be eligible for FHA financing on the units contained in them; unfortunately, a lot of people aren’t aware of the details of how the new system works, causing issues for sellers, buyers, agents, and condo associations alike. Here is a quick overview of how interested parties can get a condo development FHA-approved, including ways that the Ethical Homes team can help to expedite the process. Read the rest of this entry »

Fannie Mae is trying to reduce their inventory of foreclosed homes, so to increase buyer demand, they are offering buyers up to 3.5% in closing costs assistance on all offers on HomePath-eligible post-foreclosure sales through June 30, 2011. Read the rest of this entry »

One great benefit that DOD provides to military families is the MyCAA program, which subsidizes certain types of career training for eligible military spouses; Ethical Homes is proud to participate in the program, helping interested military spouses to become licensed real estate agents and/or mortgage loan originators. Read the rest of this entry »

Many lenders restrict financing on properties that were previously sold within the last 6 months and/or cap the amount of profit that a seller can make on sales during that period; at Ethical Homes, we can provide financing for subsequent sales (aka “flips”) with no waiting period, and with no cap on the difference in price between the previous sale and the current one. Read the rest of this entry »

We’re trying out a new (hopefully regular) feature here at Ethical Homes: a Bargain Buy Spotlight on a local property that could be of huge value to the right buyer. Read the rest of this entry »

Many lenders have limits on how soon after a property is taken off the market it can be refinanced; at Ethical Homes, we can refinance properties as soon as 1 day after they are removed from the market. Read the rest of this entry »