FHA Low Rate At 3%

October 17th, 2012 Author:

FHA Mortgage Rates : Approaching 3.00 Percent

The Federal Housing Administration is a government agency, created in 1934. It serves three primary purposes : (1) That is, to improve housing standards related to home-loans, (2) To stabilize the mortgage market, whatever that means and (3) To insure mortgage loans, which means actually backed by the taxpayer.

It is important to remember that the FHA claims that they do not make loans directly. For example, it doesn’t lend money to home buyers or give money for a refinance type of loan. Rather, the FHA insures the loans that mortgage lenders make, again remember the tax payer exemption, so long as those loans meet the FHA’s minimal mortgage home loan guidelines.

FHA purchase mortgage guidelines are similar to conventional mortgage guidelines :

Annual income is verified with W-2 statements and tax returns. Remember, no more STATED or NINA loans
Monthly debts are verified via a credit report and personal statements. No more bank account statements showing cash flow deposits
Employment and assets are verified prior to closing

However, the FHA tends to be more easy with respect to who gets approved. The FHA will often insure the reason-ability test on loans that Fannie Mae or Freddie Mac turn down as a matter of policy, and it does so without charging high mortgage rates.

FHA mortgage rates have been under 4 percent since January 2012.

New York Real Estate – Ground Zero

September 11th, 2008 Author:


                      7 years after 9/11 the commercial real estate surrounding the WTC site is thriving. Development in the surrounding areas of the WTC site have throngs of new developments subsidized in part by Federal money. Small businesses have recovered and even the larger Department stores like Barnes & Noble and Century 21 have surpassed 2001 earnings. Unfortunately, the development of the to be erected “Liberty Tower” to replace the commercial space destroyed 7 years ago is at standstill. The downtown New York City area is starving for commercial real estate lost from the collapse of WTC 1, 2 and 7. The Silverstein project has been hamstrung by constant infighting between developers, bond holders, the Port Authority and relatives of victims lost on that tragic day 7 years ago. The shadow of the Deutsche Bank Building which runs across Ground Zero real estate is another reminder of the insidious infighting among these various interest groups. The Deutsche bank Building was damaged beyond repair when the WTC towers collapsed spreading asbestos into the building and surrounding neighborhood. New Yorkers hope that Mayor Bloomberg will work will the governor to get this project , including the Freedom Tower completed as soon as possible and hopefully no later than 2010.

New York City Real Estate – The High Line

August 7th, 2007 Author:

            If you are looking to buy real estate in New York City, look no further than the High Line. The High was built in the 1930’s but was unused until the 1980’s. An elevated platform that has sat idle for several decades has been transformed into a promenade garden. This area which can be summed up as the mecca of cosmopolitan hip is fast becoming a hunting ground for savy commercial real estate entrepeneurs. The real estate covers north of W 14th Street and south of W 34th Street. Commercial lenders are more willing to offer mortgages to qualified borrowers in this area to spur urban development. This section of N.Y.C. may continue to increase in value even bucking the recent credit crunch because prices have been depressed for so long that bargains still do exist.