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Changes Coming for FHA Loans

Money-House-227

Our good friend Scott Fournier, of Integrity Home Mortgage Corporation, sent over some news that I thought you might find helpful for your home shopping this spring: The U.S. Department of Housing and Urban Development put out a report detailing upcoming changes to FHA mortgage interest premiums (click here to see the pdf from HUD). Annual … [Read more...]

Clever Tips for Paying Off Your Home Mortgage Faster

Money-House-227

Paying off the mortgage on your home faster not only means that you’ll be able to enjoy the peace of mind that comes with completely owning your property earlier, but you may also save thousands of dollars in interest payments. Here are seven clever tips to help you get your mortgage payments on the fast track: 1. Save for a large down … [Read more...]

Which Is Better : 15-Year Or 30-Year Fixed Rate Mortgage?

15-year-30-year-fixed

As a home buyer or refinancing household , you have choices with respect to your mortgage. You can choose a loan with accompanying discount points in exchange for lower mortgage rates; you can choose adjustable-rate loans over fixed rate ones; and, you can choose loans with principal + interest repayment schedules or repayments which are … [Read more...]

LoCoMusings’ Top Posts for 2011

Cole Farm damage, taken from East Main Street

I thought it would be interesting to look at which LoCoMusings posts had the highest readership last year, to see what news and issues resonated the most with you, my loyal readers. Here's what I found.... 1. Cole Farm Barn Damaged, Work Stopped By far, the most popular post of the year was the March "breaking news" story when the workers … [Read more...]

New HARP Refi Rules Announced Monday

HARP explained by The Mortgage Reports

While I view myself as a reliable source of information for all things real estate, I know I need to leave the mortgage and lending end of this business to the experts. Dan Green over at The Mortgage Reports is one of the most highly respected lenders out there.  His post yesterday explains the new HARP/Home Affordable Refinance Program … [Read more...]

Don’t Get Left Out!

LoCo News

I'm getting ready to send out my monthly newsletter. If you aren't already on the list, I'd love to keep you in the loop. Please enter your email address in the box. Cheers, Heather   Subscribe to the LoCoMusings Monthly Update   … [Read more...]

Getting off the horse before she bucks you…

Compliments of The Mortgage Reports

If you follow along on my Facebook page, you would have seen the link to this article there, but I thought it merited some discussion here on Musings. Dan Green, who authors The Mortgage Reports, wrote about how many homeowners are now choosing to refinance from an Adjustable Rate Mortgage (ARM) to a fixed rate, despite ARM rates being at … [Read more...]

Curious about Home Value?

Home value report

If you are curious about how much your home (or a home you might want to buy) is worth, just fill out this form and I'll email you a report with clickable links to comparable homes that are for sale or recently sold. Don't worry, I won't spam you...I hate spam just as much as you. =) ~ Heather … [Read more...]

Just 'Cause HUD Said So..

timesmirror

...doesn't mean it's a done deal.  Last week, HUD suspended it's rule about "fixing and flipping," which prevented buyers using FHA financing from purchasing a home that had been owned by the seller less than 91 days.   This had caused buyers using FHA loans here in northern Virginia (and other parts of the country, surely) to miss out on … [Read more...]

Nehemiah and Ameridream Down Payment Assistance.. a reprieve?

timesmirror

According to Inman News today, HR 6694, a bill in Congress right now that would craft a compromise to allow down payment assistance programs to continue, seems to be gaining momentum.  It looks like they are considering FICO score guidelines in the compromise; the bill was presented after Congress passed HR 3221 on July 30, effectively … [Read more...]