Just like many things in this world, not all mortgage loans are created equal. In fact, there are numerous .... Click to read more...
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80% of homes can be purchased with FHA Financing – Part 4 – You also talked about this graph you put together, it talks about the month of November was a 25% increase over the previous year.
Obviously prices have gone down and it looks like it then has gone back up, and so once we finish selling off this inventory, there is a good chance that we’re going to be finding or hitting the bottom.
I think just in that region of $150,000 to $200,000 region that prices have really stabilized at this point, they may go down a little bit more, but I think for the most part, because that is where the financing is right now, with the FHA and the conforming loan limits, anybody in that price range can still get a loan.
If youre looking to buy something over $400,000 you’re going to have a lot more trouble just because the financing is not available. Well, the financing is a lot more difficult over the $417,000 loan amount number.
Luckily Velocity Financial still has some of the interim small jumbo financing available, still with decent rates and the larger jumbos there is still financing available but nothing like this median home price of $275,000 and below and I think what that goes back to, specifically with the FHAs, because, what percentage of the closing costs can be contributed by a seller on an FHA loan? It’s pretty high right?
FHA financing, the Federal Housing Administration has had a standing rule for quite some time that the seller can … realestatemarketingthisweek.com -