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Mortgage & Refinance Programs

2014 USDA Eligible Areas Update

Posted in Mortgage & Refinance ProgramsPosted by Maple Tree Funding

Last week, The Agricultural Act of 2014 was approved by the Senate and the House.  Part of this Act includes an important provision championed by the National Association of Home Builders (NAHB) that will enable millions of Americans to maintain access to critical rural housing programs.  These changes that were in place would have restructured eligible USDA area’s making some areas become ineligible. More than 900 communities nationwide will now be able to maintain their “rural”…

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2014 USDA Eligible Rural Area Changes

Posted in Mortgage & Refinance ProgramsPosted by Maple Tree Funding

In January 2014, specific areas will be affected in whether or not they are USDA eligible. Implementation of the 2010 Census Data will occur on January 15, 2014, which will modify the eligible rural areas for Rural Housing loan programs. The future eligibility area maps can be viewed on the USDA Eligibility website. Properties in areas that will no longer be designated as rural will not be eligible for Rural Housing purchase loan programs as…

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Can I Refinance My Private Mortgage?

Posted in Mortgage & Refinance ProgramsPosted by Maple Tree Funding

If you have a mortgage through a private lender you may be wondering if it is possible to refinance from a private mortgage into a traditional mortgage. The answer: Yes, you can! Refinancing a private mortgage into a traditional mortgage is actually very similar to a standard traditional mortgage refinance. In order to refinance your private mortgage into a traditional mortgage, you will need basic documentation – the same documentation you needed when originally applying…

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June 2013 Mortgage Insurance Changes

Posted in Mortgage & Refinance ProgramsPosted by Maple Tree Funding

We’ve had many questions regarding upcoming FHA changes for mortgages regarding mortgage insurance.  Below is an overview of these changes and the effect they will have regarding FHA Mortgage Insurance. What are the changes to FHA Mortgages starting in June of 2013? On June 3, 2013 the following FHA MIP changes will be in effect for FHA case numbers assigned for all transactions.  As announced by HUD on January 31, 2013 in Mortgagee Letter 13-04; the changes will…

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FHA Refinance

Posted in Mortgage & Refinance ProgramsPosted by Maple Tree Funding

Based on a past Blog we wrote in June, a previous client emailed us and asked for us to look into the Streamline FHA Refinance for him.  We gladly took an application and starting crunching the numbers. Back in January 2009 when this client closed, their rate was over 5%.  With today’s low rates we were able to secure a much lower rate for this client and save them $275/month! With the FHA to FHA…

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