Key Mortgage Corporation

Due to problems in Europe and the slowing of both the US and Chinese economies, consumer attitudes have plateaued after several months of improvment earlier this year. Fannie Mae’s economic Forecast released today sad that a lull in employment gains is particularly troubling, and the risks to growth have shifted to the side of slower […]

Existing Home Sales surged this April. Sales were up 3.4% from the previous month (March 2012) and up a full 10.1% from April of 2011. With Home Affordability at record high levels due to low interest rates, there appears to be a sustainable Real Estate recovery underfoot. We still have a long ways to go […]

In an effort to assist Homeowner’s refinance their home mortgage at today’s all time low rates, FHA has significantly reduced the Mortgage Insurance Premium (MIP) cost on all Streamline Refinances beginning June 11, 2012. The eligible loans must have originated on or before May 31, 2009. FHA’s Streamline Refinancing program offers No Appraisal and No […]

The Fannie Mae and Freedie Mac Harp version 2 updates continue to be implemented. Commencing Monday April 23, 2012, we can go up to 150% LTV for Single Family Homes. On Condo’s, we will be able to go up to 125% LTV. This should continue to open more doors for more people who are underwater […]

The US Department of Housing and Urban Development (also known as FHA) has raised it mortgage insurance fees. For mortgages utilizing the minimun down payment of three and one half percent, the upfront mortgage insurance premium has increased from 1% to 1.75%. And, the monthly mortgage insurance premium has increased from 1.15% to 1.25%. The […]

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30 year fixed rate mortgage averaged 3.92 percent with an average 0.8 point for the week ending March 15, 2012, up from last week when it averaged 3.88 percent. Last year at this time, the 30 year fixed rate […]

The second version of Fannie Mae and Freddie Mac’s refinancing program which is known as HARP is coming out by March 15th. The new version will include reduced appraisal requirements along with the ability to refinance into today’s lower rates even if you currently have Mortgage Insurance. The previous version would not allow for this […]

If you are a Veteran, don’t forget about the Home Loan Benefits that are offered through the Veteran’s Administration. VA Homes Loans are designed to assist Veterans obtain home financing at very beneficial terms. In fact, there is a No Down Payment Option which even allows the Seller to Pay your Closing Costs. Thus, a […]

Fha has recently announced that FHA Loan Limits will be restored to 2011 levels begining February 1, 2012. For Single-Family Homes located in the Twin City Metropolitan Area, the new limit will be $ 365,000.00. This expanded loan level is very beneficial to the Housing Market as it opens more doors to more borrowers to […]

In last evening’s State of the Union address to the Nation, President Obama proposed a new Refinance Plan. He called on Congress to pass his new legislation which will make it easier for homeowner’s to refinance their mortgage even though they are underwater and without the red tape and runaround. He said the average homeowner […]