While most post-foreclosure properties (aka REOs) end up being owned by individual banks, many such properties actually end up being owned by FNMA (Fannie Mae); since Fannie is one of the major players in mortgage markets, preferred FannieMae lenders are allowed to offer a special HomePath mortgage product that makes the process of buying those Fannie-owned REOs. Read the rest of this entry »

Acquisition & Development loans of up to $500 million are available for commercial construction projects. Read the rest of this entry »

Real estate transactions sometimes don’t go as planned; when temporary setbacks occur, bridge loans can help borrowers with short-term loans that give them time to resolve any issues that may have cropped up. Read the rest of this entry »

Here’s a quick overview of current mortgage rates/payments for some typical scenarios that we have run for consumers recently. Read the rest of this entry »

Most lenders cannot get underwriting approval for mortgages on condos in developments with a high proportion of investors vs. owner-occupants; many options do exist for condos with investor ratios of up to 49%, however, and for borrowers who are putting at least 20% down, investor ratios can sometimes be even higher. Read the rest of this entry »

In testimony before Congress today, HUD Secretary Shaun Donovan announced plans to reduce the risk that FHA is exposed to in its loan insurance operations; these plans, however, will make FHA loans much less appealing to many borrowers, and may slow down the nascent recovery in the housing market. Read the rest of this entry »

Most mortgage programs in the US are limited to US citizens or permanent resident aliens (aka “Green Card” holders); options still exist for many non-permanent resident aliens, however. Read the rest of this entry »

Two laws that went into effect in 2009 have severely affected how quickly mortgage loans can go to closing; loans can currently generally close no faster than 9 calendar days after processing on them starts. Read the rest of this entry »

Here’s a quick overview of current mortgage rates/payments for some typical scenarios that we have run for consumers recently. Read the rest of this entry »

Here’s a quick overview of current mortgage rates/payments for some typical scenarios that we have run for consumers recently. Read the rest of this entry »