The REALPRO for Windows program will allow up to 5 side-by-side financing, prequalification or refinance comparisons. This can be used to demonstrate to your client that options they have when making … [Read more...]
MCC | Mortgage Credit Certificate
Mortgage Credit Certificate A Mortgage Credit Certificate (MCC) entitles qualified home buyers to reduce the amount of their federal income tax liability by an amount equal to a portion of the … [Read more...]
FHA Maximum Loan Amounts have decreased
The FHA Maximum Loan Amounts changed for 2014. Keep this in mind when you are working with your clients. If your county is not on this list click here to find your specific … [Read more...]
House Passes FHA’s Fiscal Solvency Act
The Federal Housing Administration (FHA) Fiscal Solvency Act of 2012 has been passed by the full House of Representatives by a vote of 402-7. The Fiscal Solvency Act includes provisions to strengthen … [Read more...]
What is Annual Percentage Rate or A.P.R.?
Also known as A.P.R. the Annual Percentage Rate is the cost of your credit expressed in terms of an annual rate. The A.P.R. takes into account "points" or "closing costs" that may be included in your … [Read more...]
Changes: VA Maximum Guaranty for Loans Closed August 6 2012 to December 31 2012 was revised
Some loan amounts have gone up and some have been reduced. The chart below shows California and Colorado. If your county is not on the list then the maximum guaranty is $417,000. Maximum Guaranty … [Read more...]
FHA Streamline Refi Annual MI and Upfront MIP effective June11, 2012
Mortgagee Letter 12-4 For all SF Forward Streamline Refinance transaction that are refinancing FHA loans endorsed on or before May 31, 2009, the Annual MI will be 55 bps, regardless of the base loan … [Read more...]
FHA increased the Annual Mortgage Insurance Premium
On June 11, 2012, FHA increased the Annual Mortgage Insurance Premium on Mortgages with a High Outstanding Base Loan Amount. This will affect areas with the higher Maximum Loan Amounts on FHA. The … [Read more...]
VA Funding Fee changes effective October 1, 2011
The VA Funding Fee is due to change on all loans closed on or after October 1, 2011 http://youtu.be/MIwM-ab2n34 … [Read more...]
Close more deals using the REALPRO Sellers Net
How does providing a Seller's Net Sheet give you the advantage over other agents? #1, For whatever reason, most agents are not going to do this, they are not going to give their seller the numbers. … [Read more...]
Reminder: The new FHA MIP and MI changes are about to go in effect October 4, 2010
Comparison Printout From the Desk of David H. Stevens Over the past week, Congress has taken quick action and passed H.R. 5981.The bill gives FHA the authority to adjust its annual mortgage … [Read more...]
105% Refinance – allowing for no mortgage insurance as well
105% Refinance Printout To purchase REALPRO for Windows … [Read more...]