by Julia Odom, the Chattanooga Real Estate Bloggess
FHA is a fabulous program for many, many, many homebuyers. Modest down payments, standard (low!) interest rates no matter what the borrowers’ credit scores, the ability to roll the up front mortgage insurance premium (UFMIP) into the loan… <insert screeching sound> Yeah, that up front mortgage insurance is really no fun. It’s just a fee… Read More
![Storrmy Hollow edited [800x600]](http://www.juliaodom.com/wp-content/uploads/2010/07/Storrmy-Hollow-edited-800x600-150x150.jpg "Storrmy Hollow edited [800x600]")
UPDATE: This one’s gone now but check out the other HUD homes for sale in Chattanooga, most of which will have similar financing available. Have you always wanted to own your own home but didn’t think you could afford the down payment? Then you’ll love living in and owning this gorgeous East Brainerd home. Featuring… Read More
Does anyone remember the old Denny’s commercials where they played up the fact that you must be crazy to sell a whole breakfast for two bucks? Well I’m here to tell you that THDA is out of its mind these days. There are some new and improved rates that they’ve started offering first time buyers… Read More
In Part I, I talked about what it takes to get a THDA loan, which is one of only a few options for low- or no-down payment mortgages. Another of these scarce-as-hen’s-teeth programs is known as USDA or Rural Development. There are two types of programs, direct lending & guaranteed lending. Property Limitations If you’re… Read More
Where, oh where, has 100% financing gone? Used to be, you could walk into any old bank, get an 80/20 loan and never have to pull a dollar out of your pocket to buy a house (or not many dollars anyway). Those days are dead and gone but that doesn’t mean that 100% financing is… Read More
Many new home buyers are cash poor which limits them to a precious few options when it comes to financing. FHA with its (slightly) lower down payment is truly the go-to loan product right now, in many cases even for those with cash to spare . If you can scare up a few more dollars… Read More
New FHA rules being implemented soon mean that FHA buyers need to act now or be prepared for more out of pocket dollars!
OK, so I’m not going to get into the whole ‘I’m-a-taxpayer-so-it-isn’t-really-free’ debate. The fact of the matter is that this is the closest to a free ride that you’re ever going to find. What are you talking about, Jules? Why, the Homebuyer Tax Credit, of course! Time is running out to take advantage of this… Read More
Check out the first post in this series here. But we’re just getting started on everything you need to know about buying a HUD house. By the way, some of these aren’t questions that are asked all that often, but rather questions that you should be asking. What does “insured” or “insured with escrow” mean?… Read More
United Community Bank CONVENTIONAL 30 yr fixed – 4.625% APR 4.755% 360 P&I Payments @ $1028.28 15 yr fixed – 4.25% APR 4.474% 180 P&I Payments @ $1504.56 – based on $200,000 loan and excellent credit GOVERNMENT 30 yr FHA/VA fixed – 4.75% APR 5.370 360 P&I Payments @ $1021.88 – based on $200,000 sales… Read More
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