Products and recent changes
USDA Pilot Refinance Program now allows financing of closing costs and escrows!
Tuesday, April 24, 2012
Administrative Notice (AN) 4634 announces a significant change to the Rural Refinance Pilot program which allows borrowers to finance eligible loan closing costs in addition to the principal loan balance and the one time upfront guarantee fee. The United States Department of Agriculture (USDA) R...
READ MOREPrimeLending offers USDA Refinance Pilot Program with easier guidelines to refinance now!
Sunday, March 18, 2012
GREAT NEWS! Effective March 12, 2012 PrimeLending will accept the USDA Rural Refinance Pilot Program! The United States Department of Agriculture (USDA) Rural Development (RD) is now offering the opportunity for current USDA Section 502 Guaranteed borrowers to refinance their existing USDA loans t...
READ MORENew Benefits to Refinancing FHA Mortgage Loans!
Thursday, March 08, 2012
Great new benefits to refinancing FHA mortgage loans endorsed on or before May 31, 2009 because of lower cost and PMI! New lower annual mortgage insurance premiums available for FHA streamline refinances! With the recent higher amounts of annual mortgage insurance premiums for FHA loans it has be...
READ MOREUpcoming changes to FHA Mortgage Insurance Premiums
Thursday, March 08, 2012
Effective for FHA case numbers assigned on or after April 9, 2012, there are changes for Single Family Mortgage Insurance including both Annual and Up-Front Mortgage Insurance Premiums. Click "read more" then click here for the details....
READ MORETitle Insurance Rate Increase for NC loans effective March 1, 2012
Thursday, February 23, 2012
Take a look at the attached document - this outlines proposed changes (they aren't official yet but they will most certainly be approved by the Insurance Commissioner) to title insurance rates....
READ MOREThe new income limits for USDA mortgage loans in 2012 are in effect now
Friday, January 27, 2012
This is a great mortgage loan product as it offers a low fixed interest rate, 100% financing, and low pmi. PrimeLending is also one of the largest USDA lenders in the country. Click on the your state to see the income limits for North Carolina and South Carolina....
READ MOREFHA 90 day rule for investors selling flipped properties
Friday, December 23, 2011
In February 2011, FHA extended the temporary waiver to allow FHA financing on single family residences within 90 days of acquisition through the end of 2011. This temporary waiver will expire on December 31, 2011 and all sales contracts written after that date will be subject to the 90 day rule. Beg...
READ MOREWe are closing USDA Loans!
Tuesday, October 11, 2011
We are still closing USDA mortgages!!! PrimeLending will continue business as usual in regards to originating, closing, and funding USDA Rural Housing Loans. If you are a lender that has a freeze on USDA lending or you are looking to borrow using a USDA loan, contact me....
READ MOREExtension of 2011 VA Maximum Guaranty Loan Limits
Thursday, August 25, 2011
The Department of Veteran Affairs (VA) recently announced that the 2011 VA maximum guaranty loan limits for high-cost counties has been extended from September 31, 2011, to December 31, 2011. The extension allows lenders to apply the 2011 VA maximum guaranty loan limits to VA loans closed on or befo...
READ MORENew, Expanded $8,000 Down Payment Assistance (DAP) Program from NCHFA
Monday, July 11, 2011
NCHFA has great news on expanded down payment assistance ("DAP") to help your home buyers! We will now offer an $8,000 DAP to all eligible borrowers within our maximum FirstHome income limits. Your borrowers no longer have to be under 80% of AMI to take advantage of our $8,000 DAP. For example, ...
READ MOREFannie Mae DU Refinance Plus up to 125% LTV appraised value!!
Thursday, June 30, 2011
The FNMA DU Refinance Plus program is a product offered by FNMA for most to all currently serviced Fannie Mae loans. This option is designed to assist borrowers who have demonstrated an acceptable pay history on their mortgage, but due to a decline in home values or the lack of available mortgage ...
READ MORERecent Changes made by the IRS
Friday, June 24, 2011
In response to rising gasoline prices, the IRS has raised the standard mileage rate for ..... Click "read more" and then click on the link to read the entire article about these important changes at http://www.journalofaccountancy.com/Web/20114285.htm...
READ MOREHow does the HUD REO Good Neighbor Next Door (GNND) program work?
Monday, May 16, 2011
This program is available for teachers, emergency medical technicians, firefighters and law enforcement officers The buyer gets a 50% discount on the sales price $100 down payment is automatic and does not have to be shown on the sales contract or listing agreement The home must be located in a...
READ MOREFHA purchase loans available for credit scores of 600 – 619!
Thursday, May 12, 2011
In a continuing effort to “expand PrimeLending’s playbook” a new variance for FHA loans with FICOs scores of 600-619 is now available! Must be Approved in Automated Underwriting System Primary Home (Non-owner occupying co-borrowers allowed) Purchase ONLY Single Family Residences Only ...
READ MOREFannie Mae Update
Wednesday, May 04, 2011
Fannie Mae will pay up to 3.5% in sales concessions on Homepath properties for closings by June 30, 2011. To learn more about how homepath mortgages work, click here....
READ MOREAnnouncement – FHA 203H for Disaster Victims
Friday, April 29, 2011
We are all sadden by the number of families affected by the recent natural disasters throughout the United States. Below is a loan product that is designed specifically to help your friends and neighbors in these Presidentially Declared Disaster Areas. FHA 203H - a brief summary Loan P...
READ MORERussell Smith is “Preferred Loan Officer” with NC Housing Finance Agency’s FirstHome Mortgage
Wednesday, April 06, 2011
Russell is certified to close products through NC Housing which include the FirstHome Mortgage, MCC tax credit, and down payment assistance programs. Because of the experience Russell’s team has in closing mortgages for first time buyers and programs through NC Housing Finance Agency, he has obta...
READ MOREWe are the Swiss Army Knife of the mortgage world!
Wednesday, March 30, 2011
A constant complaint you will hear in real estate today is that there are not enough mortgage products to meet buyers’ needs in purchasing a new home. This is not true with our PrimeLending team. This month we have closed the following types of mortgages: NC Housing FirstHome Mortgage at a low ...
READ MORECarolina Beach duplex condo financing
Wednesday, March 30, 2011
Many lenders have issues with or are not familiar with the 2 – 3 unit condominiums that are very common for Carolina Beach and Kure Beach, NC. There are a lot of opportunities for great deals on like new second or vacation homes in Pleasure Island (Carolina Beach and Kure Beach, NC). These are...
READ MOREPrivate Road Maintenance Agreement - FHA Loans
Thursday, March 24, 2011
Effective immediately per MRI guide FHA loan with a private road per appraisal a Private Road maintenance agreement is no longer needed on FHA loans as long as we have the appraiser state the road is acceptable AND there is a recorded permanent easement....
READ MOREVA Eligibility?
Wednesday, March 09, 2011
Do you have VA eligibility and looking for a very low 30 year fixed interest rate? For qualified Veterans we are currently offering the NC Housing FirstHome Mortgage as a below market interest rate for properties in NC. Many homes in Jacksonville, Sneads Ferry, Hampstead, Hubert, and Wilmington, N...
READ MOREDoublewide or Manufactured Home FHA financing available
Friday, March 04, 2011
Financing Available Up to 96.5% of the Purchase Price! Go to Manufactured Home Guidelines or to our Products page on the website under "Special Property" for the details. Please don't hesitate to call me with any questions....
READ MOREPurchase Fannie Mae Foreclosures and Finance Home Improvements with One Loan
Thursday, February 17, 2011
Click on "read more" to view more information on HomePath Renovation...
READ MOREPurchase or Refinance with Home Improvements
Thursday, February 17, 2011
Click on "read more" to view more information about FNMA Homestyle Renovation...
READ MOREMore Great News on HomePath Renovation!
Thursday, February 10, 2011
FNMA HomePath Renovation now allows Second Home and Investment Properties!...
READ MOREHomePath Renovation Program
Thursday, February 10, 2011
PrimeLending, A Plains Capital Company, is one of only 7 approved lenders in NC for the Homepath Renovation Mortgage and one of 5 in South Carolina. This is a great resource for buyers and agents!...
READ MOREHUD 90 Day Property Flipping Waiver
Monday, January 31, 2011
Below is a summary of the HUD 90 Day Property Flipping Waiver that you can view in its entirety here: http://www.hud.gov/offices/hsg/sfh/currentwaiver.pdf The waiver is extended without change The seller’s acquisition cost has been further defined as closing cost, prepaid costs, commissi...
READ MOREFreddie Mac Making Changes to their Refinance Mortgage Requirements
Tuesday, January 25, 2011
Freddie Mac announced January 18, 2011 in Bulletin 2011-2 that they are making certain changes to their refinance mortgage requirements. These changes become effective with Freddie Mac Settlement Dates on or after May 1, 2011. Verification of Funds - Refinance Mortgages: Current Gu...
READ MOREMarket Update for the Week of January 24, 2011
Monday, January 24, 2011
INFO THAT HITS US WHERE WE LIVE... Thursday saw Existing Home Sales shoot up 12.3% in December, to an annual rate of 5.28 million, well ahead of the 4.87 million rate the consensus expected. Overall, existing home sales are off 2.9% compared to a year ago, but that's when sales were artificially boo...
READ MOREUpcoming Potential USDA changes in DTI Ratio
Wednesday, January 05, 2011
Recently it has been brought to both underwriting and product developments attention that some USDA offices have not been issuing conditional commitments for USDA loans that have excessive DTI ratio regardless of GUS findings. USDA has not released an official announcement stating that maximum DTI ...
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