USDA Rural Housing Mortgage Update (100% Financing)

As the end of Fiscal Year 2008 approaches (September 30, 2008), the USDA Rural Housing Mortgage Program will be temporarily “without funds”.  This happens every year, as those of us that have been doing these for a while are aware.  The program is funded with appropriations from Congress and as they have not yet signed [...]

What the ‘Experts’ Say about Housing Prices

Tracking the Track Record – What the ‘Experts’ Say about Housing Prices “The prices of houses seem to have reached a plateau, and there is reasonable expectancy that prices will decline.” – Time Magazine 1947 “Houses cost too much for the mass market.  Today’s average price is out of reach for two-thirds of all buyers.” [...]

How To Reduce Your Mortgage!

There’s a simple trick to significantly reduce the length of your mortgage and save you thousands of dollars. The trick is to make one extra mortgage payment a year and apply that payment toward your loan’s principal. This is the method being used by “Bi-Weekly Mortgage Reduction Services” and “Bi-Weekly Mortgage Savings Programs”. Only, when [...]

USDA Rural Housing Loan (Mortgage) Property and Income Eligibility – Okaloosa County, FL

The map above shows those areas in Okaloosa County, FL that are eligible for USDA Rural Housing loans. Basically, the only areas that aren’t eligible are “between the bases” – Ft. Walton Beach, Shalimar, and Mary Esther east of Hurlburt Field. Following is the income guidelines used to determine if a buyer would qualify for [...]

USDA Rural Housing Loan (Mortgage) Property and Income Eligibility in Walton County, FL

The map above shows those areas in Walton County, FL that are eligible for USDA Rural Housing loans. Basically, the entire county is eligible! Under the map is the income guidelines used to determine if a buyer would qualify for a USDA Rural Housing loan based on the number of people in their family. Please [...]

USDA Rural Housing Loan (Mortgages) Still Offer 100% Financing

While many mortgage loan products are being scaled back due to associated credit risk, the USDA Rural Housing loan is still allowing borrowers to finance 100% AND THEN SOME to buy their homes. The USDA Rural Housing loan works a lot like a VA loan with a couple of differences that are beneficial to buyers [...]

Hurricane Ike is Affecting Destin and Ft. Walton Beach in the Panhandle

 I live in Ft. Walton Beach, FL and my office is in Destin, FL (on the Gulf Coast in the Panhandle of Florida).  It normally takes me about 10 minutes to get to my office.  This morning, had I gone to the office, it would have probably taken a couple of hours……US Highway 98 between [...]

FHA New Down Payment and LTV Requirements

FHA New Down Payment and LTV Requirements A Special FHA Announcement from FHA Expert Jeff Mifsud In response to the passing of HR 3221, this update announces FHA’s new down payment and LTV requirements. Here are the 5 things you need to know about these changes… 1. One single down payment requirement of 3.5% for [...]

100% Financing

With the Federal Government taking conservatorship of FNMA and FHLMC, interest rates were expected to drop. In fact, some financial analysts predict that they will drop to the point where more people purchase and housing prices will RISE! NOW IS THE TIME TO BUY and you need to let all of your clients know! As [...]

What a Difference a Week Makes! Why it is SO AWESOME owning real estate in Florida

Last weekened, we were on the edge of Hurricane Gustav; this week, it was a beautiful weekend.  While everybody knows that the real estate market nationally is down, and it is here, as well, the prices in our local market make buying real estate in Florida a great investment! We have something that makes us [...]