Category Archives: First time homebuyers

Fannie Mae Buyer Incentives…they’re back!

Posted on April 14, 2011 by Michele

If you are considering purchasing a Fannie Mae bank owned home and intend to use the home as your primary residence, there is good news for you, buyer incentives are being offered again! Here is an outline of the qualifications … Continue reading →

Posted in Buyers, First time homebuyers, Foreclosure/Short Sales, Mortgage/Financing | Leave a comment

Things to know about buying a home now

Posted on January 17, 2011 by Michele

I received a newsletter from Mike Moshofsky at Prime Lending with a great outline of things to consider if you are thinking of buying a home now. Here is the outline: With the start of the new year, there’s lots … Continue reading →

Posted in Buyers, First time homebuyers, Market Conditions, Mortgage/Financing | Leave a comment

Do I qualify for a low rate mortgage?

Posted on August 19, 2010 by Michele

This past week I have spoken with several potential buyers that are in the early stages of their home search. They are hoping to capitalize on the low prices in the Phoenix Metro area and take advantage of the historically low … Continue reading →

Posted in Buyers, First time homebuyers, Mortgage/Financing | 1 Comment

10 Worst First-Time Homebuyer Mistakes 2010

Posted on August 5, 2010 by Michele

Are you gearing up to buy your first place? Shopping for a home is exciting, exhausting and a little bit scary. In the end, your aim is to end up with a home you love at a price you can afford. … Continue reading →

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FHA unveils 3 new policies, HUD asks public to comment on them

Posted on July 19, 2010 by Michele

FHA unveiled 3 policy changes today that they believe will boost their capital reserves. They are as follows: Update the combination of credit and down payment requirements for new borrowers. New borrowers seeking FHA-insured financing will be required to have a minimum … Continue reading →

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New guidelines for choosing appraisers, comps | Inman News

Posted on July 7, 2010 by Michele

Fannie Mae updates policy and guidelines for appraisals. Read the full story here: New guidelines for choosing appraisers, comps | Inman News.

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FHA inspections vs. home inspections | Inman News

Posted on July 6, 2010 by Michele

I read a great article today from Inman News explaining why it is still necessary to have a home inspection even if the buyer is obtaining FHA financing and they are “inspecting” the property. Click on the following link to … Continue reading →

Posted in Buyers, First time homebuyers, Mortgage/Financing | 1 Comment

Federal Homebuyer Tax Credit Extended

Posted on June 29, 2010 by Michele

UPDATE: 7/2/10: The president has signed H.R. 5623, the “Homebuyers Assistance and Improvement Act of 2010”. This extends the homebuyer tax credit closing date to September 30, 2010. The extension applies for purchasers that were under contract on or before … Continue reading →

Posted in First time homebuyers | 3 Comments

Fannie Mae HomePath Mortgage Program

Posted on May 13, 2010 by Michele

I received an e-mail from one of my preferred lenders, Bob McCormick, MortgageQuest, outlining the Fannie Mae HomePath Mortgage Program and some of the programs advantages. What is the HomePath Mortgage Program? The Fannie Mae HomePath Mortgage Program was … Continue reading →