1. MIP goes up .75 upfront on April 9. Get under contract and get a file number before then to save upfront money and annual, which goes up .1. Obama to use this money for Medicaid. Go figure.
2. Texas has a new bond program to help buyers pay for closing up to $10,000 but they only put $600,000 in to the program, which is 60 loans. Have you seen the size of TX. This won't last a week.
Won't help the housing market very well.'
3. Amarillo, TX, has a much better program. Pays 75% of closing and downpayment, never to be repaid if you stay in house 5 years. Designed to help first time homebuyers with lower credit scores. Of course, you still have to qualify under FHA or Conventional standards.
4. If you have collections on your credit report, you have to be paying on them for 3 months or get them paid off before you can qualify for a loan now.
5. Happy State Bank has 2 new loans programs that help buyers. If you are having trouble getting a mortgage loan, check them out.
My personal news: wrote a contract tonight. Keeping fingers crossed its accepted tomorrow.
More news: New listing 5304 Albert in Amarillo, home + mother-in-law apt. Both updated and cute. Outstanding kitchens. $149,900.
4414 Alicia, 2/2/2 townhome in Puckett, $102,900. OWC. New windows, great woodwork, huge bathroom upstairs with both tub and shower and utility. 2 closets in each bedroom, plus 3 other closets. Bank of floor to ceiling cabinets in kitchen.
Short sale in Adrian, TX, Over an acre of land in the city limits, 3/1 with pole barn, mud room and utility, $39,000.
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