Yes it’s been awhile since I’ve written- there’s been so many changes in the mortgage / real estate industry. Where do I begin? with some positive news.

We can now do 5% downpayment with a one time PMI instead of monthly PMI- a big savings on monthly payment for borrowers purchasing an owner occupied single family property!

The conventional 3% downpayment purchase option is becoming more popular with borrowers with good credit as FHA has raised the Upfront Mortage Insurace Premium and the monthly mortgage insurance premium- and by the way the monthly Mortgage insurance is in your payment for as long as you have your FHA loan!!

Construction loans are still be done with as little as 5% down for borrowers with good credit.

Watch for more information coming on the Northcoast Building Industry Association’s 2013 Parade of homes!!

Rates rose quite a bit in JUne but have been leveling off and even dropping ever so slightly after the Fed’s comments about the housing industry.

That’s all for now!

I hope to be blogging more regularly from now on!!


About lizschneider66

Mortgage consultant with over 19 years experience. First time buyers, move up buyers, construction, FHA/VA, Jumbo loans, investment property purchases, & refinances- I will find the solution to financing the American dream of homeownership! Subscribe to my blog and never miss any mortgage industry news. I am Vice President of the North Coast Building Industry Association, Lorain County Association of Realtors, Working Women Connection and Womens Council of Realtors.
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s