Conventional mortgage volume should be increasing as the FHA's
loan limit is set to decrease Oct 1st and as I have reminded many
of you, 3% down conventional mortgages are available again. Due to
borrowers ability and desire to put down less than 20%, mortgage
insurance is becoming more common again.
Is mortgage insurance tax deductible? It might be? Last weeks
market update covered this and the summary can be read here.
Our thoughts and prayers go out to the people on the east coast
who have dealt with the hurricane and the resulting power
Our Arizona market has many investors paying cash today! These
buyers are in a position to pay cash now with the intention to
obtain a mortgage on the property in the future. Standard waiting
period has been 6 months.
Great News! Fannie Mae just released and "Exception" which can
waive the 6 month waiting period.
Read the requirments that need to be met here.
I know, I know.....there's a lot to digest! Good news is you
don't need to know ALL of the details. That's what I do!
If you're currently working with cash investors, I am happy to
research the mortgage guidelines and prepare a personal financing
strategy for them to leverage their cash position. Don't hesitate
to call me.