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Home Buyer: Approved!

Once again the voices of the REALTORS® were heard loud and clear on Capitol Hill, and we scored a big win for future homeowners! Thanks to the more than 139,000 REALTORS®,

or 15% of our members, across the nation, the Housing Opportunity through Modernization Act of 2016, or H.R. 3700, passed the U.S. Senate by unanimous consent, and was signed into law

by President Obama on July 29, 2016. 

This legislation:

          1. Solves a number of concerns regarding FHA’s condo rules:Reduces the FHA condo owner occupancy ratio to 35%, unless FHA takes alternative action within 90 days.

          2. Directs FHA to streamline the condo re-certification process.Provides more flexibility for mixed use buildings.Mirrors the Federal Housing Finance Agency’s (FHFA) rules regarding private transfer fees for FHA condo lending.

          3. Provides permanent authority for direct endorsement for approved lenders to approve Rural Housing Service (RHS) loans.

          4. Makes reforms to federally assisted housing programs to streamline the programs.

On behalf of the NAR Leadership Team, we would like to thank you and your colleagues for this amazing grassroots effort and for all your support for this national Call for Action. 

Our state and local association partners did a great job in leading the efforts to get the U.S. Senate to act on this critical legislation.   This victory was made possible by the collective efforts of the

NATIONAL ASSOCIATION OF REALTORS®, and our state and local association partners. When REALTORS® speak in a single unified voice, Congress listens.

 

Should you have a comment, questions or inquiries just reach us 714.493.2657 or email us at  jflores@homeloansondemand.

We are here for you, every step of the way!

Featured Posts, Real Estate

Home Sales Rebounded Sharply!

There is a lot of upbeat news in the September 2016 existing home sales report released by the National Association of Realtors® (NAR) on Thursday.

Sales rebounded sharply and the improvement was seen in all four regions.  More good news, NAR attributed part of that to increased participation from first-time home-buyers, a group that has worried the housing industry by its relative absence.

Total existing home sales during the month, including single-family homes, town homes, condos, and co-ops, rose 3.2 percent to a seasonally adjusted annual rate of 5.47 million.  First-time buyers accounted for 34 percent of sales, the highest portion in more than four years.

Should you have a comment, questions or inquiries just reach us 714.493.2657 or email it us at:  jflores@homeloansondemand.

We are here for you, every step of the way!

Featured Posts, Real Estate

FHA 2017: Abriendo más puertas para Compradores de Casas!

2017 se inicia con más oportunidades para las familias de bajos ingresos económicos que quieren ser dueños de su casa propia. La Agencia Federal de la Vivienda (FHA) acaba de aprobar la reducción del seguro hipotecario en los programas de préstamos del gobierno FHA, permitiendo ahora a más compradores calificar para estos préstamos ya que se verán ahorros en este tipo de préstamos.

La reducción de las primas de seguro hipotecario reflejara un aumento en el número de prestatarios que serán elegibles ahora para comprar una casa a través del programa FHA

Más familias van a ver HOY que si se puede hacer realidad el sueño de la casa propia.

El nuevo programa entra en efecto el próximo 27 de enero, y por propósitos de ilustración se espera un ahorro promedio aproximado de $500 dólares al año por cliente en estos costos.

Tu algún día seré dueño de mi Casa Propia comienza HOY!  Llámanos para darte toda la información que necesitas o visita nuestra página de internet www.homeloansondemand.com

¡Estamos contigo cada paso del proceso!