The Department of Veterans Affairs backed 630,000 mortgages in fiscal year 2013, an all-time high for the benefit program. That record volume punctuates an incredible recent run for VA loans, which have experienced tremendous growth in the wake of the financial collapse. VA loan volume has soared 372 percent since fiscal year 2007, driven in […]Read More 20 Millionth VA loan – VA made history in 2013
This week, millions of people will begin their New Year’s Resolutions. Statistics say that about 8% will be successful. Ever wonder where this tradition started? Historians track the origin of this custom to the ancient Babylonians, who used the new year to try to make amends for their wrongdoings of the past year. The New […]Read More History of New Years Resolutions…and what does Auld Lang Syne really mean??
Great news friends – buyers in the DFW metroplex (and surrounding areas) will see increased purchasing power thanks to FHA’s decision to increase loan limits beginning in January 2014. Currently the maximum loan amount for the DFW area is $271,050. With a 3.5% down payment (FHA’s minimum down payment requirement) this yields a purchase price […]Read More FHA increases loan limits in DFW for 2014
Security and safety experts agree that Real Estate Professionals put themselves at high risk every day while on the job. The National Association of Realtors published this article The 6 Most Dangerous Everyday Situations to help agents guard themselves. NAR published this article just this past year Attacks Against Real Estate Professionals Surge which include […]Read More Are Real Estate Professionals the most Attacked Professionals?
The US Government reopened yesterday, October 17th 2013……so why might there STILL be closing delays on real estate purchases? Mortgage lenders need the IRS and the Social Security Administration to validate a couple of things when underwriting a loan. 1. the IRS is needed to validate tax returns. Lenders send an IRS form 4506t which […]Read More Government shutdown gone! Now closing delays??
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although rates are STILL at extreme historic lows this week has been anything but good for potential home buyers and those thinking of refinancing. mortgage rates, on average, are up ~20 basis points (that’s almost a quarter of a point in laymen’s). not to worry, this isn’t a death sentence – the Fed states they […]Read More Radio Cole AND what’s UP with rates??