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2009 NEW Mortgage Loan Rates and Guidelines, FHA, Conventional

Here are some quick updates on how the mortgage industry will change your ability to buy a home in the Tampa Real Estate market.  It’s not as bad as most people think! Although it can be confusing since things are changing every day!

Here are the changes for FHA loans: Compliments of Katie Hughes, Prospect Mortgage

FHA is requiring 3.5% down on all property types-Primary residence only

Max loan amount for FHA $270,050- Only 580 minimum credit score

Condos must be FHA approved, which I can tell you which ones are approved for FHA financing

Here are the changes to Conventional Loans

Conventional loans are requiring 10%down on all primary residences

20% down if it is a condo

20% down if it is an investment property

620 minimum credit score for a primary residence

Maximum loan amount $417,0000

Join us as we uncover what has changed and what is new in the Mortgage Lending Industry.

Guest Speaker, Katie Hughes, Sr. Loan Officer, Prospect
Mortgage, will guide us through the latest changes as our real estate market continues to evolve.
If you are looking to purchase, re-finance or sell a property, you don’t want to miss this very informative meeting.
 
Click here for details and info to register for the meeting this Tuesday!

The Tampa Real Estate Insider Investing Group

 

Feel free to contact us at info@thetamparealestateinsider.com  or visit our Real Estate Listing Search Website for all homes for sale in the Tampa Bay area.

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Written by Rae Catanese, Realtor

Licensed Realtor since 2002, Tampa Bay’s own Rae Catanese regularly gives expert advice and insider tips about the Tampa Bay real estate market via her blog, The Tampa Real Estate Insider. If you are thinking of buying or selling a home in the Tampa, St. Petersburg or Clearwater areas-then this blog is for you. I typically post articles once a week. To make sure you don’t miss my newest posts, you can subscribe here! Have a real estate question? Email me here!

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