Indiana Real Estate Post

Fannie Mae Down Payment To Increase

I don't know if you have heard, but Fannie Mae is increasing its down payment from 3% to 5% starting November 15th of this year.  Now what does all of this mean? Well it means that people that have been struggling to save for a down payment (which is most all First Time Home Buyers) are going to have a harder time to be able to purchase a home. I truly hate to see this program go because FHA is going to be the only option for First Time Buyers with little down and they are going to be stuck with FHA’s PMI for the life of the loan. Now here is what I have noticed whether intend...

October 29th, 2013 | Indianapolis Realtor, Indianapolis, Indianapolis Mortgage, Fannie Mae Down Payment To Increase

QM is coming - Rules are Getting Worse

 If you’re not aware, QM rules are heading your way come January 2014. Lenders will have to retain a portion of the loan made if the loan to value is greater than 80%. What this is going to do is force smaller lenders, who don’t have large amounts of liquid cash, to only fund loans where the buyer is putting at least 20% down. Well there was a lot of push back on this from several organizations and associations because this would mean that many minority and low income families financing options would be realty reduced perhaps even eliminated. Based on the push back this r...

October 23rd, 2013 | Indiana Home Loans, Indianapolis Mortgage, Mortgage Info, QM is coming - Rules are Getting Worse

Second Mortgage - Information that you can use

  When it comes to taking out a loan for various purposes such as home improvements, car repairs, paying off debts, investment in another property and so on, many people take out a second mortgage more commonly known as home equity loan or home equity line of credit. You can get a second mortgage from an online easy loan lender.  Generally second mortgages are more popular as compared to personal loans because these have lower interest rates being secured loans, where your house is the collateral. this means any inability to pay back the loan will result in your house being seized t...

June 6th, 2013 | Indianapolis Mortgage, Second Mortgage - Information that you can use

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