FHA will continue to loosen up on its house flipping guidelines.

As of last week HUD announced that it will continue to loosen its guidelines in regards to home flipping in order to assist banks in getting rid of their foreclosed inventory.  On the contrary to this many mortgage banks are maintaining their overlays that will prevent this.  I’m curious to see if mortgage banks will follow suite, if they do it may open up the market for investors flipping properties.

Market Update from Bank Rate FHA :

Dec 29, 2011 At 1:00PM (On average my rates are about .2% below the market average for the same period with 0% origination)

30 Yr Fixed	3.96% Up	3.94%
15 Yr Fixed	3.28% Dn	3.29%

Happy Holidays to my Realtors and clients.

Samuel Morales

Residential and Commercial Loan Officer
Office: (210) 257-0642
Mobile: (210) 286-7267
Fax: (210) 257-0510
www.yourloanofficer4life.com
www.streamlinefha.org
www.streamlinefha.net
www.texasjumbomortgage.org  
NMLS: 295626   

Happy Holidays to all my wonderful clients and Realtors (Market Update Below) December 16th, 2011 1:31 PM In case you have not heard, this week we once again hit a “record low” for mortgage rates. This morning I priced out a VA 30 Year fixed at 3.75% and this is with 0 (ZERO) POINTS!!!!! (APR 3.875%) And better yet: Texas Vet VA is at 3.23% for a 30 year fixed (APR 3.35%) I know you’ve heard this before but rates cannot get any lower. Homes values are down in this buyer’s market and interest rates are the lowest they have ever been. Happy Holidays, Samuel Morales Residential and Commercial Loan Officer Office: (210) 257-0642 Mobile: (210) 286-7267 Fax: (210) 257-0510 www.yourloanofficer4life.com www.streamlinefha.org www.streamlinefha.net www.texasjumbomortgage.org NMLS: 295626