THE TIME IS NEARING END FOR NEHEMIAH AND DOWN PAYMENT ASSISTANCE PROGRAMS (DAP)!
Let’s get those buyers off the fence asap! Franklin Loan Center’s platform is strong so utilize me with your clients who need to close fast. FHA IN 21-30 DAYS! At the end of September, as you know, the DAP will be going away, yet we have until September 5th to get the deals accepted and opened. If you have a buyer who needs to use these programs call me asap! If they can’t close before the end of September we can use a gift from a family member or other non-profit organization as long as the seller is not contributing toward the downpayment, up to 6% toward closing costs are still okay!
Call me today to get the ball rolling. I’ll pay for the appraisal send along the attached flyer with your client during the pre-qual interview.
I’m never too busy for any of your referrals.
Give me the opportunity to make you look good…
We’ve had a great rally this week in the mortgage market and I’ve locked my pipeline to protect my clients from higher interest rates. This week I’ve save most of my clients 0.125% or more on their interest rate and they’re happy with the lower payments.
FHA loans and are going strong. Franklin Loan Center’s in-house closing platform is getting the job done quickly and the ability to sign loan docs in-house makes it easy for the clients with out-of-the-area escrow companies.
This week there are several important reports coming out to gauge where the economy is and is going. With the current volatility in the mortgage industry, true knowledge and insight are more valuable than ever, which is why I monitor the market throughout the day and keep you informed of changes that impact you.
Even though the media is saying it’s tough to get qualified for a mortgage I am not finding that to be true. Let me know what I can do to help your clients get qualified! Make it a great week!
Housing Bill an immediate threat to down payment assistance ( DPA) programs.
The Senate and House of Representatives are fast tracking this bill, and is in danger of shutting it down. Today DPA comprises nearly 40% of all FHA’s loan volume, and will be a huge loss if passed.
So you must act now with any of your potential buyers who have be pre-approved to use the Nehemiah DPA program. I would hate to have a family miss out on their dream home because of procrastination on their part, or congressional action. I do not have any more information than what I have told you at this time, but this program could disappear tomorrow, next month, or hopefully never. What we do know though is that it’s under attack, and is in danger of being closed.
Happy New Year!
Hope you had a great week getting back to work. Check out today’s rate sheet attached in PDF format. Mortgage Bond pricing is at the best levels since September 2005. This result comes from a Jobs report that showed only 18,000 news jobs created when expectations were 70,000. With the unemployment rate up a tick to 5.0% from 4.7% the weaker economic news is stirring the markets and improving bond pricing. If you have buyers or past clients interested in purchase or refinance money NOW is a great time. Let me help you get them pre-qualified and provide them the information needed to decide on the best loan program for their situation.
I am NEVER too busy for any of your referrals! Have a great weekend.