Austin Mortgage News

Many experts are expecting Austin mortgage rates to jump a half a point or more after the Fed’s mortgage backed securities (MBS) purchase program wraps up at the end of March

Austin mortgage rates - Many experts are expecting Austin mortgage rates rates to jump a half a point or more the Fed's mortgage backed securities (MBS) purchase program wraps up at the end of March. Take a look HERE to see how historically low Austin mortgage rates are today. It looks like waiting to get Austin mortgage financing could be dangerous to one’s financial health!

February 5, 2010|Austin Mortgage News|

NAR Regulatory Issue Summary: FHA CHanges

On January 20, 2010, FHA announced major changes to ensure its long-term financial soundness. FHA is trying to balance three fundamental objectives: 1) financial soundness of the FHA insurance fund – ensuring that its capital ratio returns above 2 percent, 2) fulfilling its mission of serving borrowers not adequately served by the private sector and 3) facilitating the recovery of the housing industry and the over-all economy.

January 25, 2010|Austin Mortgage News|

Breaking News: Increase in Upfront Premiums for FHA Mortgage Insurance

FHA loans with a case number assigned on or after April 5, 2010, will have a 2.25% upfront mortgage insurance premium. This is a .5% increase. Case numbers are generally assigned when there is a contract with a property address, and a closing date AND the borrower has committed to go forward with the loan.

January 21, 2010|Austin Mortgage News|

FHA Announces Policy Changes to Address Risk and Strengthen Finances

FHA Announces Policy Changes to Address Risk and Strengthen Finances. New Measures Will Help FHA Better Manage Risk, While Maintaining Support for the Housing Market and Access for Underserved Communities

January 20, 2010|Austin Mortgage News|

HUD Takes Action To Speed Resale Of Foreclosures

With certain exceptions, FHA currently prohibits insuring a mortgage on a home owned by the seller for less than 90 days. This temporary waiver will give FHA borrowers access to a broader array of recently foreclosed properties.

January 18, 2010|Austin Mortgage News|

2010 Central Texas Homestead Exemption Forms

It’s that time of year again - tax time! One way to lower your property taxes is to file your Homestead exemption form. By filing this form, you can reduce the taxable amount of your property’s value and thus reduce the amount of taxes you will have to pay in future years.

January 14, 2010|Austin Mortgage News|

Homebuyer Tax Credit Extension & Expansion Could be Passed as Early as Friday

The Senate just voted 98-0 to pass the Tax Credit [within the Unemployment Bill]. It now goes to the House. Expect Democratic leadership to place the bill on a fast track for passage on Thursday. It could get to the President on Friday.

November 5, 2009|Austin Mortgage News|

Update from the National Association of Realtors: Extending and Expanding the Tax Credit

Senate leaders of both parties, key Senate Finance Committee members and staff, and the homebuyer tax credit sponsors Sen. Chris Dodd (D-CT), Sen. Joe Lieberman (I-CT, and Sen. Johnny Isakson (R-GA), have reached an agreement on extending and expanding the housing tax credit. However, right now, there is no agreement on how to attach this tax credit to the pending Unemployment Insurance bill, or whether to offer the tax credit agreement as an amendment to another bill, or whether to bring the agreement to the Senate floor and vote upon it as a separate, stand alone bill.

October 30, 2009|Austin Mortgage News|

Forbes Ranks Austin-Round Rock, TX “America’s Recession-Proof Cities To Retire In”

Forbes ranked Austin #6 in the nation for their list of "America's Recession-Proof Cities to Retire In." Forbes based their rankings on the country's 40 largest metropolitan statistical areas and applied seven metrics. Texas cities Dallas-Fort Worth, Houston, and San Antonio also made the list.

October 16, 2009|Austin Mortgage News|

Housing Affordability Hovers Near Highest Level In 18 Years

Housing Affordability Hovers Near Highest Level In 18 Years - Houses are the cheapest they've been since 1991. Bolstered by affordable interest rates and low prices, nationwide housing affordability during the second quarter of 2009 continued to hover near its highest level since the series began 18 years ago, according to the National Association of Home Builders (Aug. 19, 2009). You have the financial opportunity of a lifetime.

October 8, 2009|Austin Mortgage News|

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