Ellie Mae Didnt She Play On The Beverly Hillbillies

Ellie Mae Didnt She Play On The Beverly Hillbillies

Ellie Mae is actually a loan origination and tracking software extensively used by lenders to track new mortgages nationwide. Here are some of their findings:

·   33% of loans last month went to borrowers with FICA scores (ask your lender)  
    below 700
·   Average FHA* home purchase loans had a FICA score of 684
·   Down payments for FHA loans for homes average around 5%; some were 3.5% ·   Fannie Mae and Freddie Mac also allowed 5%, but you had to show you could
    pay mortgage premiums

·   Veteran Administration loan down payments can be zero down
·   The Dept. of Agriculture (for people who live in small towns) also had zero
    down payments.
 

What does this mean for a potential home buyer? It means getting off the fence and checking out the mortgage market if you are serious about buying a home. *

The above was gleaned from the Washington Post Writers Group and the Los Angeles Times For the full article go to: http://www.latimes.com/business/realestate/la-fi-harney-20140427,0,242681.story#axzz30THC2uyu


Brian Hargrove Headshot
Author:
Phone: 919-830-5233
Dated: May 1st 2014
Views: 604
About Brian: ...

Property Search









RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Bring Your Real Estate Career To The Next Level - Are you ready for the support,
RALEIGH AREA REAL ESTATE MARKET UPDATE - The Raleigh Real Estate Market
Instant Offers On Your Home - The Real Estate Market has changed
2020 Forecast Shows Continued Home Price Appreciation - 2020 Forecast Shows Continued Home

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Grow Local Realty
140 Raleigh Street
Holly Springs, NC
919-582-7340
919-867-6464

Other Locations