by Richard Ryan | Dec 30, 2022 | Uncategorized
This dates back to the summer of 2010, but it looks like the wheels are in motion to implement a change. The bad news is that there will be a new lower cap on seller concessions (seller contributions). The good news is that it will not be a hard reduction in seller...
by Richard Ryan | Dec 30, 2022 | Uncategorized
FHA just released a new mortgagee letter 12-03 which has 3 important changes: Self Employed: Highlight: P&L and balance sheet required if it has been more than 3 months since the end of the last tax year that we have returns for. Translated: nearly...
by Richard Ryan | Dec 30, 2022 | Uncategorized
If you are considering purchasing a home using an FHA loan, you best move quickly. For FHA case numbers assigned on or after April 1st, 2012 there will be two increases in MIP. The first increase is due to our friendly politicians in Washington applying a payroll tax...
by Richard Ryan | Dec 30, 2022 | Uncategorized
Our Team World-class service. No hassle closings. Expert advice. Unbeatable rates. The Ryan Mortgage Team at Fairway Independent Mortgage is comprised of mortgage experts who are there to provide you with intelligent answers in a timely manner. We are a mortgage...
by Richard Ryan | Dec 30, 2022 | Uncategorized
I’m happy to pass along an exciting new product that Envoy has released in the past week. This program is for minor repairs to the home up to 2% of the total sales price. This allows us to handle certain properties where the investors require repairs, but we don’t...
by Richard Ryan | Dec 30, 2022 | Uncategorized
What is an Energy Efficient Mortgage (EEM)? As the single largest housing expense after a mortgage payment, utility costs can have a direct impact on how large of a mortgage a homebuyer can afford. Buyers can save money on the cost of utilities by making energy...
