Mortgage bond prices remain near unchanged this morning failing to erase the steep losses from yesterday afternoon. The data this morning was generally bond-friendly. Weekly jobless claims rose to 667,000, higher than the expected 620,000 mark. Durable goods orders fell 5.2%, weaker than the expected 2.5% decrease. New home sales fell 10.2% in January, weaker than the expected 0.6% decrease. Debt supply remains a focus with the final auction of the week this afternoon.
The 2 year auction 2 days ago was relatively lackluster along with the 5 year auction yesterday. There is concern the 7 year auction will follow suit. The weakness yesterday came mostly from a report of the Freddie Mac delinquency rate being accelerated in January. In severe times bankruptcies generally increase. This casts doubt over the performance of corporate and mortgage bonds(even with the quasi-backing of the Fed).
From an investment perspective it is simple, you typically don't pay premiums to buy something with an uncertain future value. To sell whatever it is, whether it be a bond, house, or widgets/etc..., the price generally has to fall. Unfortunately in bond terms, as prices fall, rates/yields rise, which is what we saw yesterday afternoon.
Thursday, February 26, 2009
Wednesday, February 25, 2009
Volatile Market for Today-February 25, 2009
Goodness gracious. The Bond market has been all over the map today. Freddie Mac had an accelerated delinquency of three times that from this time last year. Bankruptcies are up, stock market is down.
In severe times bankruptcies generally increase. This casts doubt over the performance of corporate and mortgage bonds(even with the quasi-backing of the Fed). From an investment it is simple, you typically don't pay premiums to buy something with an uncertain future value. To sell whatever it is, whether it be a bond, house, or widgets/etc..., the price generally has to fall.
Unfortunately in bond terms, as prices fall, rates/yields rise, which is what we are seeing right now. Mortgage bond prices remain lower as reports of delinquencies fill the headlines. Freddie Mac delinquency rate accelerated in January. In severe times bankruptcies generally increase.
This casts doubt over the performance of corporate and mortgage bonds(even with the quasi-backing of the Fed). Existing home sales fell 5.3%, weaker than the expected 1.4% increase. Debt supply remains the focus this week. The 2 year auction yesterday was relatively lackluster despite recent efforts by the US Government to lobby China to purchase US debt. The 5 year auction this afternoon will likely result in some market movement.
Be alert here. We are still in a choppy trading environment. The bottom line is that the Fed is trying to keep rates low by purchasing mortgage bonds through open market operations. So far they have provided a much-needed influx of buying into MBSs. However, they are not the only entity buying and selling so lower rates are not a given.
So far their efforts have generally helped rates but we are still subject to large market swings despite the Fed's efforts. With that in mind, caution is the key. Take advantage of gains when they come.
For more information on the Freddie Mac news article, please visit the story directly at http://uk.reuters.com/article/marketsNewsUS/idUKN2546018520090225
In severe times bankruptcies generally increase. This casts doubt over the performance of corporate and mortgage bonds(even with the quasi-backing of the Fed). From an investment it is simple, you typically don't pay premiums to buy something with an uncertain future value. To sell whatever it is, whether it be a bond, house, or widgets/etc..., the price generally has to fall.
Unfortunately in bond terms, as prices fall, rates/yields rise, which is what we are seeing right now. Mortgage bond prices remain lower as reports of delinquencies fill the headlines. Freddie Mac delinquency rate accelerated in January. In severe times bankruptcies generally increase.
This casts doubt over the performance of corporate and mortgage bonds(even with the quasi-backing of the Fed). Existing home sales fell 5.3%, weaker than the expected 1.4% increase. Debt supply remains the focus this week. The 2 year auction yesterday was relatively lackluster despite recent efforts by the US Government to lobby China to purchase US debt. The 5 year auction this afternoon will likely result in some market movement.
Be alert here. We are still in a choppy trading environment. The bottom line is that the Fed is trying to keep rates low by purchasing mortgage bonds through open market operations. So far they have provided a much-needed influx of buying into MBSs. However, they are not the only entity buying and selling so lower rates are not a given.
So far their efforts have generally helped rates but we are still subject to large market swings despite the Fed's efforts. With that in mind, caution is the key. Take advantage of gains when they come.
For more information on the Freddie Mac news article, please visit the story directly at http://uk.reuters.com/article/marketsNewsUS/idUKN2546018520090225
Monday, February 23, 2009
The 2009 First Time Homebuyer Tax Credit
In 2008, Congress created a $7,500.00 first time homebuyers tax credit. It went into effect on April 8, 2008 and was set to expire on July 1, 2009. The big problem with this credit was that it needed to be re-paid over 15 years. People viewed this as a debt and not a real benefit.
In 2008, the real estate community began advocating removing the repayment feature of this credit. They also were pressing to extend the credit through December 2009 and make the credit available to every homebuyer rather than just first time homebuyers.
The new 2009 tax credit plan consists of the removal of the repayment, as well as an extension of the credit to on or before November 30, 2009. This credit can now be claimed by those who closed on homes on or after January 1, 2009. Keep in mind that the credit is repayable on purchases from 2008. Additionally, the credit has increased to $8,000.00; however, it is still only valid for first time homebuyers.
Some of the details pertaining to this credit involve an $8,000.00 refundable tax credit or up to 10% of the purchase price of the home. For example, if the property costs $75,000.00, then the buyer’s credit claim can only be $7,500.00. If the purchase price is $85,000.00, than the buyers can claim the entire $8,000.00. Refundable means that if your total tax liability in the given year is less than $8,000.00, the IRS will send a refund to for the balance.
Most taxpayers do not have a tax liability that exceeds $8,000.00. For example, according to the 2008 IRS tax tables, a single filer would need $46,000.00 in taxable income to have an $8,000.00 tax liability. A couple would need $58,000.00 in taxable income to have an $8,000.00 tax liability. Those with less tax liability will in most cases get a refund meaning they get the full value of the credit.
There are certain individuals who are ineligible to receive the credit. If you fall into any of the following criteria, you may not be able to receive the credit.
*Your income exceeds the phase-out range. This means joint filers with a Modified Adjusted *Gross Income (MAGI) of $170,000.00 and above and other taxpayers with a MAGI of *$95,000.00 and above
*You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild.
*You stop using your home as your main home.
*You sell your home before the end of three years.
*You are a non-resident alien.
First time homebuyers are defined as someone who owned another main home at any time during three years prior to the date of purchase. For example, if you bought a home on January 15, 2009, you cannot take the credit for that home if you owned, or had ownership interest in another home at any time from January 15, 2006 through January 15, 2009. So if the last time you owned a home was 2005, you are eligible for the credit even though it is really not your first home. For married joint filers, both must meet the 1st time homebuyer test to take the credit on a joint return.
In conclusion. This information is accurate based on information available as of February 21st, 2009. For more detailed information regarding this stimulus package, please visit http://www.realtor.org/government_affairs/gapublic/american_recovery_reinvestment_act_home?lid=ronav0019 or consult your tax advisor with any questions regarding the use of this provision.
In 2008, the real estate community began advocating removing the repayment feature of this credit. They also were pressing to extend the credit through December 2009 and make the credit available to every homebuyer rather than just first time homebuyers.
The new 2009 tax credit plan consists of the removal of the repayment, as well as an extension of the credit to on or before November 30, 2009. This credit can now be claimed by those who closed on homes on or after January 1, 2009. Keep in mind that the credit is repayable on purchases from 2008. Additionally, the credit has increased to $8,000.00; however, it is still only valid for first time homebuyers.
Some of the details pertaining to this credit involve an $8,000.00 refundable tax credit or up to 10% of the purchase price of the home. For example, if the property costs $75,000.00, then the buyer’s credit claim can only be $7,500.00. If the purchase price is $85,000.00, than the buyers can claim the entire $8,000.00. Refundable means that if your total tax liability in the given year is less than $8,000.00, the IRS will send a refund to for the balance.
Most taxpayers do not have a tax liability that exceeds $8,000.00. For example, according to the 2008 IRS tax tables, a single filer would need $46,000.00 in taxable income to have an $8,000.00 tax liability. A couple would need $58,000.00 in taxable income to have an $8,000.00 tax liability. Those with less tax liability will in most cases get a refund meaning they get the full value of the credit.
There are certain individuals who are ineligible to receive the credit. If you fall into any of the following criteria, you may not be able to receive the credit.
*Your income exceeds the phase-out range. This means joint filers with a Modified Adjusted *Gross Income (MAGI) of $170,000.00 and above and other taxpayers with a MAGI of *$95,000.00 and above
*You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild.
*You stop using your home as your main home.
*You sell your home before the end of three years.
*You are a non-resident alien.
First time homebuyers are defined as someone who owned another main home at any time during three years prior to the date of purchase. For example, if you bought a home on January 15, 2009, you cannot take the credit for that home if you owned, or had ownership interest in another home at any time from January 15, 2006 through January 15, 2009. So if the last time you owned a home was 2005, you are eligible for the credit even though it is really not your first home. For married joint filers, both must meet the 1st time homebuyer test to take the credit on a joint return.
In conclusion. This information is accurate based on information available as of February 21st, 2009. For more detailed information regarding this stimulus package, please visit http://www.realtor.org/government_affairs/gapublic/american_recovery_reinvestment_act_home?lid=ronav0019 or consult your tax advisor with any questions regarding the use of this provision.
Monday, February 16, 2009
Veterans Administration (VA) Home Loan
If you are a military veteran, who has been on active duty, or a reservist with the applicable amount of active duty service and training, you may be eligible to utilize a military benefit to purchase a home. The VA Home Loan Guaranty Program offers home loans to those qualified Veterans who have the Certificate of Eligibility in place. VA loans offer no down payment and some of the most liberal qualifying requirements of any mortgage type available today. If you are a Veteran, than a VA loan is a viable choice for those who are eligible.
VA loans are available up to 100% of the purchase price of the home. That means no money down and no minimum out-of-pocket investment are needed by the eligible Veteran. Closing costs and most other loan fees can be gifted or paid for by the seller and even the lender.
VA guidelines allow up to 41.00% of a borrowers income to be used toward qualifying for the mortgage payment. Of course, we do have to include your current credit (installment, revolving and child care) debts in the mix when qualifying you to the 41.00% debt to income ratio. That is higher than a lot of conventional or FHA loans and expands a Veteran's ability to buy a home. And, best of all, VA loans are not a one-time benefit to Veterans. Eligible Veterans can use their VA financing to buy their first, second or third home, even if they have used their eligibility before. The Veteran simply must restore their eligibility and we can proceed with the new purchase.
If you think that this program, or any of the other loan programs that we offer may be something that you are interested in, please feel free to give me a call at 540-382-5270 or visit me on the web at http://www.daveshelor.com/. All first mortgage products are originated through Prosperity Mortgage. Bond Market closed today for Presidents Day
Good Morning,
There should be very little change with interest rates today as the bond market is closed for Presidents Day. Interest rates should remain static from Friday's posting so in essence, we gain a couple of extra days if you lock today, getting the rates available from Friday's rate sheet.
This week holds several important data meetings that should the findings not meet expectations, may lower rates for the week. On Wednesday, we have New Housing Starts at 8:30 and Capacity Utilization at 9:15. On Thursday, we have the PPI @8:30 and Leading Economic Indicators at 10:00. In addition, we also have the Philadelphia Fed Survey at 10:00. On Friday, the Consumer Price Index comes off at 8:30.
Have a great week. For more information, please visit my website at http://www.daveshelor.com/. I can also be reached at 540-382-5270 extension 327.
There should be very little change with interest rates today as the bond market is closed for Presidents Day. Interest rates should remain static from Friday's posting so in essence, we gain a couple of extra days if you lock today, getting the rates available from Friday's rate sheet.
This week holds several important data meetings that should the findings not meet expectations, may lower rates for the week. On Wednesday, we have New Housing Starts at 8:30 and Capacity Utilization at 9:15. On Thursday, we have the PPI @8:30 and Leading Economic Indicators at 10:00. In addition, we also have the Philadelphia Fed Survey at 10:00. On Friday, the Consumer Price Index comes off at 8:30.
Have a great week. For more information, please visit my website at http://www.daveshelor.com/. I can also be reached at 540-382-5270 extension 327.
Wednesday, February 11, 2009
FHA Loans are for Everyone
Federal Housing Administration (FHA) was established by the National Housing Act in order to implement FHA financing to make the American Dream of home ownership a reality for more Americans. Unlike local state bond subsidy programs, FHA loans have no maximum income restrictions. Whether a first time purchase or a move up to a bigger home, FHA mortgages require less money down and less income to qualify.
Family Help Appreciated (FHA). FHA guidelines allow home buyers to receive financing assistance from relatives. For example, the entire down payment and or loan fees (such as closing costs) can come from gifted funds in order to help home buyers who are short on cash assets. Relatives can also act as "co-mortgagors" in order to help home buyers who are stretching to qualify for the mortgage payments. To assist younger home buyers who have not established alot of credit, FHA requires only a minimal credit history. Couples who are planning to marry can establish a bridal registry savings account to help them accumulate the down payment assistance necessary for purchasing a home.
FHA loans come in a variety of options including long term fixed rate mortgages. FHA also offers short term adjustable rate mortgages. In addition to the wonderful features noted above, current homeowners may refinance their existing mortgage, regardless of type, into an FHA loan should it be necessary. You can refinance or pay off an FHA loan early or in full without the worry of pre-payment penalties. You can finance properties that fall into the 1-4 family owner occupied class, and credit worthy potential buyers can assume existing FHA mortgages with bank approval and save even more.
If you are interested in this type or loan, or any other loan program that might fit, please feel free to give me a call. You can also visit my website at http://www.daveshelor.com/ for more information.
All First Mortgage products are offered and provided by Prosperity Mortgage Company. Credit subject to loan approval. Prosperity Mortgage Company may not be available in your area. Information is accurate as of the date of publishing and is subject to change without notice. All Rights Reserved.Monday, February 9, 2009
Protect Yourself from Predatory Lenders
One of the biggest financial decisions that a person makes in their lifetime is to buy a home. There are many lenders out there today that are available to assist you with making that happen. However, make sure that you understand the entire process to ensure that you are truly making an informed decision.
Every year, there are home buyers that fall victim to predatory lending. Historically, they are first time home buyers but other home buyers have fallen victim as well. Below are some tips that will hopefully assist you in protecting you against predatory lenders.
First-Attend a first time home buyer seminar. These seminars are free for those who would like to attend. If someone tries to charge you a fee for attending a seminar, back up and find another one. Usually, your lender can help you find a seminar to attend. You can also take these online through the Virginia Housing and Development Authority, or www.vhda.com, and receive a completion certificate at the end of the online training. Other classes are offered in Roanoke at the Total Action against Poverty or TAP office.
Second-Interview several real estate professionals or REALTORS. Ask for references. Think of this as a job interview. You want to find the best candidate to assist you in finding that perfect home, that is within your price point. I can assist you in finding that perfect agent. There are several professional, full time REALTORS within my sphere of influence that I can recommend to you when that time comes.
Third-Shop the neighborhood. You don't want to pay to much for a house if the comparable sales don't match up. This is where picking a top notch REALTOR can assist you. They have access to the MLS and can pull closed transactions within that neighborhood. This will help you when you tailor your initial offer to purchase.
Fourth-Don't let anyone convince you to borrower more money than you are comfortable with. That goes for REALTORS and Mortgage Originators. When I pre-approve someone for a mortgage, I will always give you two numbers. One is the maximum that you are eligible to purchase, based on the criteria that you have given me, and then, give you the figure that YOU are looking to be at.
Fifth-Know what you are signing. Never, Never, Never sign a blank document. If information is filled in after you have signed, you are likely on the hook for whatever it says. Insert "NA" of draw lines through blank pages to prevent verbiage from being added after the fact.
People are losing their homes due to predatory lending practices. Make sure that you are protected. Investigate the REALTOR, the loan officer, and even the title company or closing attorney. Make sure all fees are disclosed to you upfront and that you are truly comfortable with all parties involved.
Ask your loan officer if they are going to attend your closing. It is your money that they are lending, the least that they can do is show up and thank you at the closing table.
For more information or to have a top notch REALTOR referral, please feel free to contact me directly at www.DaveShelor.com, or via email at david.shelor@prosperitymortgage.com. I can also be reached by phone at 540-382-5270, ext 327.
Every year, there are home buyers that fall victim to predatory lending. Historically, they are first time home buyers but other home buyers have fallen victim as well. Below are some tips that will hopefully assist you in protecting you against predatory lenders.
First-Attend a first time home buyer seminar. These seminars are free for those who would like to attend. If someone tries to charge you a fee for attending a seminar, back up and find another one. Usually, your lender can help you find a seminar to attend. You can also take these online through the Virginia Housing and Development Authority, or www.vhda.com, and receive a completion certificate at the end of the online training. Other classes are offered in Roanoke at the Total Action against Poverty or TAP office.
Second-Interview several real estate professionals or REALTORS. Ask for references. Think of this as a job interview. You want to find the best candidate to assist you in finding that perfect home, that is within your price point. I can assist you in finding that perfect agent. There are several professional, full time REALTORS within my sphere of influence that I can recommend to you when that time comes.
Third-Shop the neighborhood. You don't want to pay to much for a house if the comparable sales don't match up. This is where picking a top notch REALTOR can assist you. They have access to the MLS and can pull closed transactions within that neighborhood. This will help you when you tailor your initial offer to purchase.
Fourth-Don't let anyone convince you to borrower more money than you are comfortable with. That goes for REALTORS and Mortgage Originators. When I pre-approve someone for a mortgage, I will always give you two numbers. One is the maximum that you are eligible to purchase, based on the criteria that you have given me, and then, give you the figure that YOU are looking to be at.
Fifth-Know what you are signing. Never, Never, Never sign a blank document. If information is filled in after you have signed, you are likely on the hook for whatever it says. Insert "NA" of draw lines through blank pages to prevent verbiage from being added after the fact.
People are losing their homes due to predatory lending practices. Make sure that you are protected. Investigate the REALTOR, the loan officer, and even the title company or closing attorney. Make sure all fees are disclosed to you upfront and that you are truly comfortable with all parties involved.
Ask your loan officer if they are going to attend your closing. It is your money that they are lending, the least that they can do is show up and thank you at the closing table.
For more information or to have a top notch REALTOR referral, please feel free to contact me directly at www.DaveShelor.com, or via email at david.shelor@prosperitymortgage.com. I can also be reached by phone at 540-382-5270, ext 327.
Saturday, February 7, 2009
Refinance or not to Refinance, that is the Question
When you refinance your mortgage, you're actually replacing it with a brand new loan. In doing this, expect to go through a mortgage application process similar to what you experienced with your original mortgage. Refinancing is often a sound financial choice that can allow you to meet a variety of needs:
Reduce your monthly payments by taking advantage of lower interest rates or extending the repayment period.
Reduce your interest rate risk by switching from an adjustable-rate to a fixed-rate loan or from a balloon mortgage to a fixed-rate loan.
Reduce your interest cost over the life of your mortgage by taking advantage of lower rates or shortening the term of your loan.
Pay off your mortgage faster (accelerating the build-up of equity) by shortening the term of your loan.
Provide funds for major expenses or to consolidate debts.
Think about how . . .refinancing will support your overall financial goals.
Rate-Term Refinance vs. Cash-Out RefinanceA rate-term refinance has a loan amount that is just enough to repay the balance of the existing mortgage. The purpose of the loan could be either to reduce your interest rate, adjust your loan term, or both.
A cash-out refinance, on the other hand, has a loan amount that exceeds the current mortgage balance. The higher loan amount converts some of you home equity into cash proceeds, which you receive at loan closing.
A Good Rule of Thumb:
A good rule of thumb is that if interest rates are 1/2% to 5/8% lower than your current interest rate, it may be a good time to consider a refinance. Many homeowners consider refinancing when interest rates suddenly fall or there's a change in financial circumstances. But even though a large decline in rates or an opportunity to pay off debts might make refinancing seem like an easy decision, you shouldn't consider any single variable on its own. Think about how long you plan to stay in your home, how you plan to use your equity, and how a refinance will support your overall financial goals.
If you would like to see if a refinance is a good idea for you, please visit my website at www.DaveShelor.com. There you can use one of the many calculators I have available or even make an application to just see if it is a good idea. Have a loan in the works somewhere else? No problem, give me a call and I will gladly sit down and review your initial loan documents and determine if the program and terms are truly in your best interest at no cost.
Reduce your monthly payments by taking advantage of lower interest rates or extending the repayment period.
Reduce your interest rate risk by switching from an adjustable-rate to a fixed-rate loan or from a balloon mortgage to a fixed-rate loan.
Reduce your interest cost over the life of your mortgage by taking advantage of lower rates or shortening the term of your loan.
Pay off your mortgage faster (accelerating the build-up of equity) by shortening the term of your loan.
Provide funds for major expenses or to consolidate debts.
Think about how . . .refinancing will support your overall financial goals.
Rate-Term Refinance vs. Cash-Out RefinanceA rate-term refinance has a loan amount that is just enough to repay the balance of the existing mortgage. The purpose of the loan could be either to reduce your interest rate, adjust your loan term, or both.
A cash-out refinance, on the other hand, has a loan amount that exceeds the current mortgage balance. The higher loan amount converts some of you home equity into cash proceeds, which you receive at loan closing.
A Good Rule of Thumb:
A good rule of thumb is that if interest rates are 1/2% to 5/8% lower than your current interest rate, it may be a good time to consider a refinance. Many homeowners consider refinancing when interest rates suddenly fall or there's a change in financial circumstances. But even though a large decline in rates or an opportunity to pay off debts might make refinancing seem like an easy decision, you shouldn't consider any single variable on its own. Think about how long you plan to stay in your home, how you plan to use your equity, and how a refinance will support your overall financial goals.
If you would like to see if a refinance is a good idea for you, please visit my website at www.DaveShelor.com. There you can use one of the many calculators I have available or even make an application to just see if it is a good idea. Have a loan in the works somewhere else? No problem, give me a call and I will gladly sit down and review your initial loan documents and determine if the program and terms are truly in your best interest at no cost.
Thursday, February 5, 2009
Are there truly 100% loan programs left out there for buyers?
Hello,
Just the other day, like so many other days, I am asked if there are any 100% loan programs available for both first time home buyers as well as existing homeowners. Well, the answer is yes and kind of.
First, the kind of. Currently, if you have owned a home but it has been three or more years since owning a property, you may qualify again as a first time homeowner. There are programs available through the Virginia Housing Development Administration that allow individuals who fall into this category to be able to purchase a home. There are income restrictions with these loans, so make sure to visit the VHDA website at http://www.vhda.com/ for more information. You can also contact me directly and we can discuss it.
In addition to VHDA, there are 100% loan programs available through the United States Department of Agriculture or USDA. These loans do not require first time ownership, and previous homeowners may be eligible. This program also has income restrictions associated with it so please give me a call regarding this as well. The income restrictions are established by county, so you will want to be sure of where the house is located to make sure that you qualify.
Another loan program that is out there are for our Veterans. The Veterans Administration participates in loans that do not require any down payment as well. The catch, of course, is that you must be an individual of military service. A copy of your DD 214 and a copy of your Certificate of Eligibility is needed to begin.
So, if you are truly a first time homeowner, or someone who has not owned a home in the last three years, then VHDA may be an option for you. If you are a Veteran, then you should entertain a VA loan as an option. Don't forget about the USDA program. That to, may be an option as long as your income is within the guidelines.
For more information regarding these and other loan programs, please feel free to give me a call. I can be reached at 540-382-5270 ext 327, or on my mobile at 540-250-6002. Also, please visit me on the web at www.DaveShelor.com.
Just the other day, like so many other days, I am asked if there are any 100% loan programs available for both first time home buyers as well as existing homeowners. Well, the answer is yes and kind of.
First, the kind of. Currently, if you have owned a home but it has been three or more years since owning a property, you may qualify again as a first time homeowner. There are programs available through the Virginia Housing Development Administration that allow individuals who fall into this category to be able to purchase a home. There are income restrictions with these loans, so make sure to visit the VHDA website at http://www.vhda.com/ for more information. You can also contact me directly and we can discuss it.
In addition to VHDA, there are 100% loan programs available through the United States Department of Agriculture or USDA. These loans do not require first time ownership, and previous homeowners may be eligible. This program also has income restrictions associated with it so please give me a call regarding this as well. The income restrictions are established by county, so you will want to be sure of where the house is located to make sure that you qualify.
Another loan program that is out there are for our Veterans. The Veterans Administration participates in loans that do not require any down payment as well. The catch, of course, is that you must be an individual of military service. A copy of your DD 214 and a copy of your Certificate of Eligibility is needed to begin.
So, if you are truly a first time homeowner, or someone who has not owned a home in the last three years, then VHDA may be an option for you. If you are a Veteran, then you should entertain a VA loan as an option. Don't forget about the USDA program. That to, may be an option as long as your income is within the guidelines.
For more information regarding these and other loan programs, please feel free to give me a call. I can be reached at 540-382-5270 ext 327, or on my mobile at 540-250-6002. Also, please visit me on the web at www.DaveShelor.com.
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