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Mortgage & Refinance Programs

USDA Area Updates and Income Updates

Posted in Mortgage & Refinance ProgramsPosted by Maple Tree Funding

As some of you may have read, changes to eligible communities were going to take place through the USDA Rural Development Program. We have received communication from Chase Rural Housing that there will be no rural-designated area changes at this time.  The earliest implementation date for changes to existing rural areas will be March 27th, 2013.  We will continue to keep you updated. The Chase Rural Housing release also stated that there are no current…

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USDA – What is considered Rural?

Posted in Mortgage & Refinance ProgramsPosted by Maple Tree Funding

The United States Department of Agriculture (USDA) offers Mortgage Programs for property located in “Rural” areas.  This program involves 100% financing for Homebuyers. When some people think of “Rural” they may think farmland only, however, rural takes on a whole new meaning when looking for a residential home loan.  There are specific areas that are not property eligible (think downtown Albany, Saratoga, Troy, Latham, Glens Falls) but many properties on the outskirts of these cities…

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Streamline FHA to FHA Refinance

Posted in Mortgage & Refinance ProgramsPosted by Maple Tree Funding

Effective with case numbers starting June 11th, 2012 the FHA Single Family Refinance just got better!  Now, clients who want to take advantage of today’s low rates without the burden of higher monthly mortgage insurance can streamline their current FHA mortgage into a new FHA mortgage. Your existing FHA loan MUST have been endorsed on or before May 31st, 2009 in order to be eligible for this program.  Basically, if you closed after May 31st,…

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Mortgage Brokers – More Choices

Posted in Mortgage & Refinance ProgramsPosted by Maple Tree Funding

With so many loan programs, it is our job as Mortgage Brokers to understand what programs fit our clients.  Maple Tree Funding’s Mortgage Loan Originators are licensed professionals and understand that not every client fits into a certain loan program.  Why use a broker?  A common question that we hear quite often.  At Maple Tree Funding, we have the ability to review all types of loans and not just the “one fits all” approach that…

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Broader Housing Refinance Plan Announced

Posted in Mortgage & Refinance ProgramsPosted by Maple Tree Funding

New Finance Plan just announced.  If you have a mortgage that is more than what your house is worth and you have been rejected in the past for a refinance because of this, this may be your chance for a refinance!  The program is the latest administration effort to help homeowners in the face of a massive number of foreclosures and plunging house values that have left millions of borrowers owing more than their homes are…

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