Harrisonblog

Most folks have to get a loan of some sort when purchasing a home because, lets face it, it is a large sum of money! In Harrisonburg and Rockingham County, it is typical to see buyers taking advantage of conventional financing, but many others are going with FHA, VA, and other types of loans. Take [...]

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When first time home buyers begin thinking about purchasing a home, their first thought is usually, “Can I afford it?” or “Do I have enough money?” These are valid questions, and do need to be answered before you begin your home search.
The first step in the process of purchasing a home should be visiting with [...]

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The Federal Housing Administration (FHA) has a loan program for rehabilitating homes and communities called the 203(k) Loan Program. Better known as a “Rehab Loan.” This program is meant to encourage new home ownership, rehabilitation of neighborhoods, and communities.
One advantage of this program is that “buyers can focus on the location and floorplan instead of [...]

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Ever heard of HARP? It is the Home Affordable Refinance Program, a government-run program that allows folks with a Fannie-Mae or Freddie-Mac guaranteed loan to refinance at a lower, fixed rate. Instead of refinancing at a max of 105% loan-to-value (LTV), it is now capped at 125%. This means that if you already have this [...]

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Do you ever find yourself having conversations in acronyms and abbreviations? I guess it makes sense to shorten phrases, especially when using those terms frequently in conversation, but not everyone knows what they are all the time. So to increase your list of known acronyms, I provide you with information about TILA, HERA, and HOEPA.
The [...]

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If you keep up with real estate news, you’ve surely heard about the Home Valuation Code of Conduct (HVCC). If you don’t keep up with that stuff, you’re in the right place! Here is a brief summary on what this is, what it means to you, and how things are changing in the real estate [...]

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Check out a blog post written by Kline May Realty’s Karl Waizecker titled “Biggest One-Day Mortgage Rate Drop in 7 Years!”
It seems the Federal Reserve has hit upon a plan that will actually work.  Yesterday, based on the news that the Fed will buy $600 Billion of bad loans from banks (as opposed to bank [...]

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