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Fannie Mae guidelines PMI
[January 27, 2014 – 03:17 pm]
Fannie Mae guidelines PMI

La Habra, CA asks: I was at an open house last weekend where the real estate agent told me I could get a loan with only 3 percent down payment and no PMI. I’ve been told that any loan I get with less than 20 percent down has to have PMI. Is there a 3 percent down payment mortgage with no PMI available? Also, she told me we did not need to get an appraisal. How can that be? Franklin Advantage: The open house you visited last weekend was a foreclosure. In fact, it was not just any old foreclosure; it was a Fannie Mae foreclosure. Fannie Mae offers special financing on …

FNMA 2-4 Unit Guidelines
[January 21, 2014 – 02:30 pm]
FNMA 2-4 Unit Guidelines

On December 11, 2010, Fannie Mae will activate the new version of DU, version 8.2. This new version has some new guidelines that will affect you... Minimum Borrower Contribution– The minimum borrower contribution requirements for all Fannie Mae conforming products (except DU Refi Plus, High Balance loans, IO loans, 2-4 units and second homes) will no longer require a minimum 5% contribution from the borrower. The borrower's minimum investment may come from gift, grant or community seconds to meet this requirement. This is a huge change · Foreclosure – Increased waiti…

FNMA gift funds guidelines
[January 13, 2014 – 01:07 pm]
FNMA gift funds guidelines

Post on: Oct 7, 2010 Starting Monday, December 13, 2010, Fannie Mae is changing its mortgage lending guidelines. For some mortgage applicants of Indiana , the loan approval process will simplify. For others, it will toughen. How you’ll be affected personally will depend on your credit profile and your loan characteristics. Among the biggest changes from Fannie Mae is a new set of guidelines for gift funds. When the new rules roll out, accepting cash gifts for downpayment will be easier. Undetr the new guidelines, buyers of owner-occupied, 1-unit properties (i.e. sing…

FNMA new HARP guidelines
[January 7, 2014 – 12:15 pm]
FNMA new HARP guidelines

“ Homes that are under water have only a few option to refinance their mortgages, the HARP programs is probably your best bet but it’s not for everyone and there are restrictions. ” THE Home Affordable Refinance Program expansion helps today’s historically low rates become available to customers who have an existing mortgage loan owned by Fannie Mae and Freddie Mac. There is a little twist to the new guidelines that might get you in the door of refinancing to historic low rates in the 3’s if you have not done so. Homes that are under water have only a few option to r…

FNMA debt ratio guidelines
[December 30, 2013 – 11:28 am]
FNMA debt ratio guidelines

Big Lending News that Could Affect Many San Mateo Home Buyers Yesterday, the lending world got some big news that could affect many San Mateo home buyer’s mortgage loans. Fannie Mae and Freddie Mac, the quasi government institutions that buy mortgage loans on the secondary market, announced they would only allow up to 45% debt to income ratios (from 55%) for all loans locked after December 12th, 2009. What are Debt to Income Ratios? Basically, your debt to income ratio is the percentage of your monthly mortgage payment as compared to your gross monthly income. For ex…

FNMA guidelines Short Sale
[December 8, 2013 – 06:38 am]
FNMA guidelines Short Sale

Dec 03 Tags Related Posts Share This Posted by admin on Dec 3, 2012 in Short Sale Blogs | As of November 1, 2012 the Federal Housing Finance Authority initiated new Standard Short Sale Guidelines that apply to all Fannie Mae and Freddie Mac mortgages. This guidelines are to help streamline short sales with all Fannie Mae and Freddie Mac loans. You can find a summary of the guidelines here or the guidelines in detail below.

FNMA income Guidelines
[December 2, 2013 – 05:31 am]
FNMA income Guidelines

New FNMA Condo Guidelines May Have Chilling Effect on Panama City Beach Condo Sales From January 11, 2009 FNMA released new condo eligibility guidelines for mortgages acceptable to be purchased by FNMA in Announcement 08-34 These new guidelines are directed specifically toward condominiums located in Florida. The guidelines specify particular situations that place additional restrictions on condominium mortgages that FNMA will purchase in the secondary market. The new guidelines have an effective date of January 15, 2009. Some of the highlights are: Reduced loan to v…

FNMA Flex 97 guidelines
[November 16, 2013 – 03:21 am]
FNMA Flex 97 guidelines

Fannie Mae is revising LTV guidelines eliminating the “Flex 97” program and increasing standard eligibility to 97%. Below is a quick summary of some of the many changes with the new guidelines effective 12/11/10. Desktop Underwriter® (DU®) Version 8.2 Release As announced by Fannie Mae ( SEL-2010-13) on September 20, 2010, Fannie Mae will release Desktop Underwriter® (DU®) Version 8.2 and retire DU 8.0 on the weekend of December 11, 2010. A quick summary is described below, attached are the release notes and new eligibility matrix. Guideline Changes Effective with ap…