Real Estate Financing – First Time Home Buyers and FHA Mortgages –

September 2, 2010 by admin  
Filed under Real Estate Financing – 80% of homes can be purchased with FHA Financing – Part 4 – You also talked about this graph you put together, it talks about the month of November was a 25% increase over the previous year. Obviously prices have gone down and it looks like it then has gone back up, and so once we finish selling off this inventory there is a good chance that were going to be finding or hitting the bottom. I think just in that region of $150000 to $200000 region that prices have really stabilized at this point, they may go down a little bit more, but I think for the most part, because that is where the financing is right now, with the FHA and the conforming loan limits, anybody in that price range can still get a loan. If youre looking to buy something over $400000 youre going to have a lot more trouble just because the financing is not available. Well the financing is a lot more difficult over the $417.000 loan amount number. Luckily Velocity Financial still has some of the interim small jumbo financing available, still with decent rates and the larger jumbos there is still financing available but nothing like this median home price of $275000 and below. Well and I think what that goes back to, specifically with the FHAs, because, what percentage of the closing costs can be contributed by a seller on an FHA loan? Its pretty high right? FHA financing, the Federal Housing Administration has had a standing rule for quite some time that the seller can

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