The Federal Housing Administration, more commonly known as the FHA, is proposing a new rule that could reshape the mortgage industry. The rule, Strengthening Risk Management through Responsible FHA-Approved Lenders, focuses on increased net worth requirements for mortgage lenders.  In short, with this change, the lender will assume more liability on originating FHA loans. To date there are about 13,800 registered lenders in [...]
Act now to take advantage of a once in a lifetime $8,000 tax credit for first-time home buyers!  To be eligible for the tax credit, a home sale must actually close by November 30th, 2009 – not just be under contract. On average, lenders are taking 30 to 45 days to process a loan. That leaves potential buyers only a [...]
Are you a Veteran of the United States? If so, you may be eligible for a great financing option for your next new home, the Veterans Affairs (VA) loan. The VA loan program, once used primarily for first-time home buyers is now used by a broad spectrum of eligible buyers. Since its inception in 1944, the VA [...]
The recent credit crunch has greatly impacted the conditions around mortgage lending. Banks and mortgage companies alike have swung from their aggressive lending practices to a highly conservative low risk position. Regrettably, this has impacted non-conforming or jumbo loans, which are loan amounts above the Fannie Mae limit. The Fannie Mae limit in most markets is capped at $417,000.       For jumbo loans, [...]
Welcome to GetHousingMoving.com, a blog designed to raise awareness of the importance of housing to America’s economic recovery and to share knowledge that we’ve collected over our 40 year history. Enjoy!