HARP Refinance Program in Pennsylvania : Help for Underwater Homeowners

January 26, 2012 Pennsylvania Conventional Mortgage News

The Home Affordable Refinance Program, known as HARP, has been revised and expanded to hopefully help more homeowners. How is the new HARP different from the previous HARP? Under the new HARP refinance program, the big change is that IT DOES NOT MATTER HOW MUCH A HOME HAS DECREASED IN VALUE. HARP has eliminated the […]

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Maximum FHA Loan Amounts in Pennsylvania Reinstated to Higher Limits Again

January 16, 2012 Buying a House

The maximum FHA loan amounts for Pennsylvania mortgages have changed again.  Previously these maximum loan amounts had reset back to the lower pre-2008 maximum loan amounts after the time limit on the temporary increase had expired.  Pressure from the housing industry and the home buying public helped push a reinstatement through Congress and the Oval […]

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USDA Property Eligibilty

November 1, 2011 Buying a House

USDA Mortgages, also known as Rural Development loans, are by definition meant for “rural” properties that will be a primary residence.  All borrowers on a USDA mortgage application must also occupy the property.   USDA Property Eligibilty First and foremost the property must be located in USDA eligible area.  The USDA Eligibilty map can be […]

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VA Funding Fees Set to Decrease September 30, 2011

September 13, 2011 Buying a House

Good news for those seeking a VA Mortgage in Pennsylvania and the rest of the nation.  Per the recently passed Public Law 112-026, VA Funding Fees are set to decrease.  The below chart was emailed to me by several of my lenders and it highlights the changes.  Since the VA Funding Fee was typically financed […]

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Buy a Home in Lancaster County with No Money Down with a USDA Mortgage

August 15, 2011 Pennsylvania USDA Mortgage News

Using a 100% USDA mortgage is a great way to finance the purchase of your next home in Lancaster County.  These are great loans for those who qualify and the USDA loan remains as one of the true no down payment programs out there.  If the home appraisal allows, the closing costs can also be wrapped into […]

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Allowable Improvements under the FHA 203K Program

June 27, 2011 FHA 203K

The FHA 203K Program allows homeowners to make repairs, improvements, modifications and upgrades that increase the value of their current home or a home they are purchasing. Several times I have been asked what improvements are allowed under the 203K program. This program is not intended to provide funds for what HUD may consider luxury […]

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Buying a House with No Money Due at Closing is Possible with a USDA Mortgage

May 9, 2011 Buying a House

Buying a House with No Money Due at Closing is Possible with a 100% USDA mortgage. A few weeks ago I had a customer purchase a property using a 100% USDA Mortgage.   At the closing, they actually got cash back for the $2000 Hand Money they deposited to secure the sales contract and the $375 […]

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Buying a 3-4 Unit Property

May 1, 2011 Buying a House

Buying a 3-4 unit property in Pennsylvania is often a great investment.  The buyer obtains a primary residence and has extra units to rent out and collect extra income.  Often this extra rental income ends up covering the mortgage payment and expenses of the property.  This enables the owner to live in the property with […]

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USDA Refinance in Pennsylvania

April 16, 2011 Pennsylvania USDA Mortgage News

Using a USDA Refinance in Pennsylvania is a great way to lower the monthly mortgage payment on a USDA loan.  Rates are still near historic lows and taking advantage of these rate levels will benefit many who are seeking to refinance a USDA mortgage.   USDA refinances can only be used to pay off an existing USDA […]

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15 Year Mortgages Work Harder For You

April 9, 2011 Refinancing

Achieving the dream of a free and clear home is more in reach than many homeowners realize.  The main benefit that is often touted when refinancing is that those who qualify can often lower their mortgage payment by several hundred dollars per month.  The new payments advertised with these lower monthly payments are typically for 30 […]

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125% Financing with the DU Refi Plus Program

March 28, 2011 Pennsylvania Conventional Mortgage News

The DU Refi Plus Program allows homeowners to refinance and lower their monthly payment even if they currently owe more than the home is worth.  This program is intended to help homeowners that have been on time with their mortgage payments but have been unable to refinance due to low appraisals and downturns in their local property values.  […]

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A Mortgage Program That Can Also Reduce Your Energy Bills

March 14, 2011 Pennsylvania FHA Mortgage News

This winter has been particularly cold in Pennsylvania.  Homes with older windows, inadequate insulation and improper air sealing have a hard time keeping out the winter chill.  High utility bills can also cost homeowners quite a bit as they try to keep their home warm.  Is there a possible solution to reduce these bills and improve the […]

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Allegheny County Property Tax Relief

March 13, 2011 General Mortgage News

  Homeowners in Allegheny County are eligible for some relief from property taxes.  Under the Homestead Act, residents of Allegheny County are able to reduce the tax assessed value of their primary residence by $15,000.  For example if the tax assessed value of your home is $140,000, you can apply for the Homestead exemption and […]

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Buy a Home in Blair County with No Down Payment

February 27, 2011 Pennsylvania USDA Mortgage News

Using a 100% USDA mortgage is a great way to finance the purchase of your next home in Blair County.  These are great loans for those who qualify and the USDA loan remains as one of the true no down payment programs out there.  If the home appraisal allows, the closing costs can also be wrapped […]

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Pennsylvania Super Jumbo Mortgages

February 27, 2011 Jumbo

Super Jumbo Mortgage money is still available.  Super Jumbos are available for loan amounts up $2 million.   Some features of this program include… 80% financing for Purchases and Rate/Term Refinances up to $2MM Cash out up to 500K Interest Only or Fully Amortizing Second Home SFR Financing available up to $1MM   Call me at 877-334-6094 […]

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FHA 203K Mortgages – How Are They Different from other Mortgages?

February 23, 2011 Pennsylvania FHA Mortgage News

An FHA 203K mortgage is the HUD’s primary program for the rehabilitation and repair of single family properties. HUD provides this 203K program as an important tool for community and neighborhood revitalization and for expanding homeownership opportunities. FHA 203K Mortgages – How Are They Different from other Mortgages? Most mortgages only provide permanent financing. This […]

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Pennsylvania USDA Mortgages Offer 100% Financing

February 21, 2011 Buying a House

Using a 100% USDA mortgage is a great way to finance the purchase of your next home.  These are great loans for those who qualify and the USDA loan remains as one of the true no down payment programs out there.   Benefits of a USDA Rural Dev loan include:                 True 100% no money down financing. […]

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Teachers can buy certain HUD homes for a 50% discount

February 17, 2011 Pennsylvania FHA Mortgage News

HUD offers some special incentives to Teachers when it comes to buying a home and obtaining amortgages for teachers mortgage. These incentives are offered through the Good Neighbor Next Door Sales Program. HUD offers a 50% discount from the list price of the home for eligible properties. In return you must commit to live in […]

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Does the $8000 Homebuyer Tax Credit Need To Be Repaid If I Sell My House?

January 26, 2011 Buying a House

The $8000 tax credit that expired last June placed a lot of new homebuyers in their very first house. Most of these first time buyers probably planned on owning these homes for years and years to come. We all know that sometimes life gets in the way of even the best laid plans. Unexpected life […]

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Pittsburgh Refinance

January 22, 2011 General Mortgage News

Today’s historically low interest rates should be investigated by every homeowner with a mortgage balance.  Feel free to call me to crunch the numbers and see if you can benefit from a reduction in payment, a reduction in term or both!   We never know where rates will be in the future.  In the 15 years […]

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