by Julia Odom, the Chattanooga Real Estate Bloggess
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
Rates as of April 28, 2009 United Community Bank CONVENTIONAL 30 yr fixed – 4.375% APR 4.503% 360 P&I Payments @ $998.57 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 @… Read More
NOTE: This is an outdated post that contains information and links to programs that no longer exist. THDA, Tennessee Housing Development Agency, has introduced their anticipated second mortgage program. The program is designed to be used in conjunction with the stimulus tax credit for first time home buyers. The purpose is to assist potential home… Read More
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