currently an FHA loan is the best option for most home buyers with little money down. But there are limits on the price of the home….
NEW FHA RENOVATION LOAN GUIDELINES Many home buyers are getting great deals on short sales and foreclosures here in Tampa, however these homes usually require updates and renovations. With these new rehab loans offered by Wells Fargo, you can turn your newly purchased home into the house of your dreams with little or no money […]
New guidelines for FHA financing. The positive news is that anyone who needs a mortgage and has a 600 or less credit score may qualify for FHA financing based on the below criteria. Unfortunately, if you have gone through a short sale process and still have a credit score above 500, you will not qualify […]
GREAT NEWS!!!! We are now able to use last year’s maximum loan limits on FHA which in Hillsborough, Pasco & Pinellas is $292,500 (much better than the &$271,050 we were rolled back to). Don’t forget about the 8,000 tax credit for home buyers. This is not just first time home buyers, it is for anyone […]
Here are some quick updates on how the mortgage industry will change your ability to buy a home in the Tampa Real Estate market. It’s not as bad as most people think! Although it can be confusing since things are changing every day! Here are the changes for FHA loans: Compliments of Katie Hughes, Prospect Mortgage […]
On July 11th, the Senate voted 63 to 5 to approve the legislation. As a result of your efforts, HR 3221 creates affordable housing opportunities by setting loan limits up to $625,500 for Fannie Mae, Freddie Mac and FHA, and will stimulate housing demand with a temporary $7,500 home ownership tax credit. The bill also […]