Panama City Mortgage Information

Local and national mortgage information for buyers in Panama City, Florida

Found 5 blog entries about Panama City Mortgage Information.

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Market Update Week Ending January 4, 2013

Thanks to Kathy Hallmon at Regions for this mortgage market update:

 

 

Market Update Week Ending January 4, 2013 The year began on a rough note for mortgage rates. A one-two combination of a fiscal cliff deal and unfavorable news from the Fed caused mortgage rates to end the week sharply higher. The economic data released this week generally came in close to expectations. Wednesday, mortgage rates reacted to the news that politicians reached a fiscal cliff deal which will avoid most of the spending cuts and tax increases which were set to take place at the start of 2013. While much of the debate was simply postponed, the deal reduces the risk of slower economic growth which would have resulted…
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Market Update Week Ending June 22, 2012

Thanks to Jackie Fowler for this weeks market update...

Despite historic Greek elections and a highly anticipated Fed meeting, it was a surprisingly quiet week for mortgage rates, since neither event shed much light on investors' primary questions. As a result, mortgage rates ended the week with very little change.

Investors hoped that the two big events this week would remove some of the uncertainty that has hung over financial markets for months, but they were mostly disappointed on that front. On Wednesday, the Fed extended the duration of Operation Twist through the end of the year. This was the middle ground between adding no additional stimulus and implementing a third round of quantitative easing…
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panama city beach real estate

Market Update Week Ending April 20, 2012

Thanks to Jackie Fowler at Regions for this mortgage market update

Investors saw little this week to cause much movement in mortgage rates. The Spanish debt auctions received surprising demand, and disappointing US economic results were not weak enough to shift investor sentiment toward safer assets. In the end, mortgage rates finished the week with little change.

In a market looking for positive economic momentum, this week's data provided little encouragement. With the exception of Industrial Production, every measure announced reflected a slowdown in its rate of economic growth. The growth rate of manufacturing activity saw the biggest drop. Retail Sales growth slowed from last month and Industrial

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panama city beach real estateLatest FHA (Federal Housing Authority) update...

Recently, the FHA (Federal Housing Administration) made an announcement: Starting April 1 FHA will no longer insure mortgages to borrowers who have an ongoing credit dispute of $1,000 or more on their file.

Consideration for an FHA-backed loan, requires borrowers either:

  • Have to pay the remaining balance on the credit dispute or
  • Enter into a payment plan, making at least three payments on it.

Any payment plans need to be fully documented and submitted to the FHA, to be included in the debt-to-income ratio for the new mortgage.

Excempt from the FHA’s new rule are:

  • Disputed credit accounts from more than two years ago or
  • Any accounts related to reported identity theft.

According

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Many visitors to the Panama City Real Estate site often question whether they can qualify for a home loan.

Each time I'm asked this question, my answer is the same - "You don't know unless you ask"!

The FHA loan program is one means for those with mid level credit scores to take advantage of todays low housing prices.

Here are a few items of interest for those interested in FHA programs:

 

  • Credit score 580 - 619 (Overlays apply call for details)
  • 3.5 % Down payment                                                                        
  • Fixed rate loans
  • 100% Gifts from family member to cover down payment and closing costs
  • Seller can pay up to 6% towards buyers closing costs and prepaid
  • Non-traditional Credit

If you

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