Annual Credit Reports

  I thought you’d find the following information about of particular interest. It is the official website established through the Fair Credit Reporting Act mandating that the three credit reporting repositories allow consumers free access to their credit reports once every 12 months. I accentuate the word “free” here because there are several websites […]

FHA Lowers MI Premiums

  President Obama announced lower MI Premiums for FHA Home Loans in January 2015. This is welcome news for both new home buyers using FHA as well as existing FHA homeowners wanting to lower their monthly payments.  The Scotsman Guide has a great article for you to learn more about this update to the FHA […]

USDA- New Eligible Areas

USDA has made changes to the eligible areas and it has affected some of our rural areas in Arizona. Please take a look at the map below. Rural Area Changes effective 10-1-14   USDA is a wonderful loan program for our home buyers purchasing a home in the rural areas of our state.  It allows […]

2014- Qualified Mortgage

This year (January 2014) the Qualified Mortgage (QM) and Ability to Repay (ATR) rules have been adopted under the Dodd-Frank Act. A Qualified Mortgage (QM) is generally a mortgage that cannot include certain product features and that must be underwritten in accordance with specific underwriting Ability to Repay (ATR) guideline standards. The QM requirements are […]

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