Little Known Secret about GA VA Loans
There is a little know secret when you are trying to obtain a VA loan in Georgia. I have been helping Veterans with this for years. VA loans allow the seller to pay up to 4% of the sales price toward a borrower’s debt. Let’s say you are buying a $200,000 home and you have [...]
Georgia FHA Fee’s Going up Again
It was just announced by HUD that they are increasing the FHA monthly mortgage insurance, again. This will be the second time in less than a year. The upfront mortgage insurance premium will remain the same at 1%, but the monthly mortgage insurance premium (MIP) is increasing from .90 to 1.15. This is another considerable [...]
Update on USDA Funding Issues
USDA is still on the verge of running out of money. Most people assumed they would already be out of money by now, but we are still getting commitments. One thing that we do know for sure is that USDA and Congress are working on the funding issue. We also know that the USDA funding [...]
USDA and Flood Insurance, Problems for GA Homeowners
The two most important issues facing Georgia home loans right now are USDA rural development and flood insurance. USDA loans have become wildly popular in the last two years due to the fact it is one of the only 100% loan programs left. In the middle of March USDA announced that they anticipate running out [...]
2010 Georgia Mortgage Limits
Georgia Conventional conforming loan limits will remain unchanged for 2010. The current conforming limit for a GA Mortgage is $417,000 and will remain the same for 2010. The only exception to this in Georgia, is Greene County, which is where Lake Oconee is located. The Greene County conforming limit will also remain unchanged, but will [...]
GA 203K Rehab Loans for Foreclosures
Foreclosures are a hot topic right now for obvious reasons. People are finding incredible deals on bank owned properties. One common complaint I keep hearing though is, “The property needs some work.” So what do you do? Pass on this house and look for the next one. You could, or you could get a 203k [...]
How to Raise Your GA Credit Score in 60 Days
Recently lenders have raised their minimum credit score requirements. For example, most lenders now require a 620 fico score for FHA loans. USDA rural housing has made it harder to qualify with a score below 620. Even if a lender will allow you to have a score below 620, you will most likely have a [...]
