New FHA Credit Guidlines
September 28, 2010 by Bob Schenkenberger · Leave a Comment
Just wanted to let you know that most investors are now requiring a score of 640 on FHA loans now. For now, CHFA still will allow to go below to a 580, but must pass the CHFA scorecard
$1 Billion to Stabilize Neighborhoods (HUD NSP Program)
September 8, 2010 by Bob Schenkenberger · Leave a Comment
PRESS RELEASE OBAMA ADMINISTRATION AWARDS ADDITIONAL $1 BILLION TO STABILIZE NEIGHBORHOODS HARD-HIT BY FORECLOSURE Third round of NSP grants to build on efforts to confront abandonment and blight WASHINGTON – U.S. Housing and Urban Development Secretary Shaun Donovan today awarded an additional $1 billion in funding to all states along with a number of counties and [...]
FHA Increases Fees to Save Programs?
August 10, 2010 by Bob Schenkenberger · 1 Comment
[facebook_ilike] It’s no secret that the housing crisis has strained Fannie Mae, Freddie Mac and the Department of HUD. So, congress just passed H.R. 5981. This bill gives FHA the authority to adjust its mortgage insurance rates to increase funding to the FHA Mutual Mortgage Insurance Fund. This move will immediately begin to yield $300 [...]
$8000 Tax Credit Still Available for Military
July 9, 2010 by Bob Schenkenberger · 3 Comments
[facebook_ilike] The Get Home Denver Team is pleased to publish this post written by VA expert James Kelley. Homebuilders in Denver, CO are very optimistic about the local economy. According to a recent Denver Post article, builders are buying vacant lots all over Denver with the intention of constructing new homes to meet predicted demand. [...]
Denver Real Estate Market Statistics April 2010
May 12, 2010 by Bob Schenkenberger · Leave a Comment
[facebook_ilike] As a quick recap, while individual areas vary, April, 2010 combined MLS Residential Statistics had a number of positive indicators compared to April of 2009. Increase in the Number of Closed Sales to 3,308 (up 22.2% for the month) Average Days on Market reduced 22.5% to 79 days Number of Active Listings increased 1.3% [...]
The Glass is Really Half Full – Denver Ranks #3
January 28, 2010 by Bob Schenkenberger · Leave a Comment
The Denver area real estate market ranked number 3 in the latest (November 2009) S&P/Case-Shiller Home Price report. The report tracks 20 metropolitan areas and ranks them based on real estate price performance. The Denver area showed a 0.5% increase, and ranked 3rd, trailing only Dallas (+1.4%) and San Francisco (+1.0%.) The only other city [...]
Denver Real Estate Mortgage Rates
January 22, 2010 by Bob Schenkenberger · Leave a Comment
Denver Area Current Mortgage Rates Program Rate Orig.+Discount Conv. 30 yr. fixed 5.00% 1%+0% FHA 30 yr. fixed 5.00% 1%+0% VA 30 yr. fixed 5.25% 1%+0% 5/1 ARM 3.75% 1%+0% Conv. 15 yr. fixed 4.375% 1%+0%
HUD Suspending 90 Day Rule
January 18, 2010 by Bob Schenkenberger · 2 Comments
HUD’s 90 day rule was a condition put upon home sales stating that if the property was owned for less than 90 days, the owner could not sell it and offer FHA financing. The reason for this was to keep unscrupulous investors from buying low, and re-selling immediately for substantial profit. Investors, rehabbers, and the like, needed to wait a full 90 days before the resale could go through with an FHA loan.
Denver Mortgage Rates 12/4/2009
December 4, 2009 by Bob Schenkenberger · Leave a Comment
The better than expected unemployment numbers have shown the economic recovery may well be taking hold. However, this also caused interest rates to rise slightly from the record lows seen the past couple of weeks. If you have thought about a re-finance, or know someone who is looking to buy a home, let us know. [...]
Mortgage Backed Securities
November 17, 2009 by Bob Schenkenberger · Leave a Comment
There was a nice improvement in MBS (Mortgage Backed Securities) last week. Rates are directly impacted by the trading of MBS coupons, which is why we saw rates improve throughout the week. This could be a continuing trend in the very near term, but beware of the pressures on this market. Much of the market [...]