Below is a list of condos in Charlotte County that are currently approved for VA financing per the VA portal:
| Condo Name | ID | Record Type |
| BOULEVARD WEST OF ROTONDA | 001072 | Condo |
| FOUNTAIN COURT | 000955 | Condo |
| HARBOR WALK | 000324 | Condo |
| NEWPORT GOLF & CC | H00283 | Condo |
Below is a list of condos in Collier County that are currently approved for VA financing per the VA portal:
| Condo Name | ID | Record Type |
| IRONSTONE AT THE QUARRY | 000300 | Condo |
| NAUTICA LANDING AT THE QUARRY | 000302 | Condo |
| TOWNHOMES AT TRAFFORD | H11614 | Condo |
| VERANDA IV AT CEDAR HAMMOCK | 000721 | Condo |
| VERANDAS AT TIGER ISLAND III | 000404 | Condo |
| VISTA I @ HERITAGE BAY | H11689 | Condo |
| VISTAS III @ HERITAGE BAY | H11615 | Condo |
| WORLD TENNIS CLUB CONDOMINIU | 000723 | Condo |
Below is a list of condos in Lee County that are currently approved for VA financing per the VA portal:
The Mortgage Bankers Association cut their forecast for new loan origination volumes in the first quarter of 2017 by 3.5%. They are citing higher interest rates as the key cog in the forecast cut.
The largest financing agencies of the United States government have decided to increase loan limits in 2017. Below are the highlights of the increase:
– FHA loan limit “floor” will increase to $275,665 from $271,050. (These are the limits observed in Lee County)
-FHA loan limit “ceiling” will rise to $636,150 from $625,500.
-Conforming Fannie Mae and Freddie Mac loan limit will increase to $424,100.
FHA states that maximum loan limits increased in 2,948 counties and remained the same in 286 counties.
Studies have estimated that these increases could have a billion dollar effect on the loan market.
According to the National Association of Realtors, first-time home buyers are getting off the sidelines and purchasing homes. The share of home purchases by first-time buyers rose to 35% this year from 32% last year.
This is a great sign that the job market is finally getting better for those who have less experience in the workforce. The low mortgage interest rates are also helping with affordability.
There has been a lot of buzz lately regarding the difference between the published interest rate and the rate that is actually offered to borrowers. The interest rate published as the “average rate” by Fannie Mae and Freddie Mac is always lower than the actual interest rate offered by mortgage lenders or brokers. The reason for this discrepancy are loan level pricing adjustments “LLPA”. The published rate is the rate offered to borrowers with no negative loan level pricing adjustments. These can include credit score, loan to value, property type, and many other factors.
When you are shopping for your next home loan keep in mind that you probably will not qualify for the “average rate” published on websites.
Day 1 Certainty is a new offering Fannie Mae is giving their lender partners.
This should mean greater speed and simplicity when lenders deliver loans to Fannie Mae. This will increase efficiency for lenders when verifying income, assets, and employment.
There will also be additional improvements for customers eligible for a property inspection waiver (PIW).
This efficiency should mean the an easier and more hassle-free loan process.
A recent CNBC report indicated that the mortgage markets are becoming less profitable for the big banks. The article reports a quarterly drop of 25 percent in origination’s for JP Morgan Chase; Citi’s origination’s were down 17 percent; and Wells Fargo decreased 14 percent.
Recent foreclosure numbers suggest that the housing market has improved significantly. The November 2015 delinquency rate is the lowest since December 2007.
With a rising real estate market and chances of finding a bargain a lot tougher, first time home buyers are having more trouble finding the right home for them. One thing that everyone agrees on is that having a mortgage lender or broker who has a reputation of closing loans fast helps when the seller is in a multiple offer situation.
A recent survey from the National Association of Realtors revealed that 83 percent of all renters want to own a home and 77 percent believe that home-ownership is part of their American Dream. The top two reasons for not currently owning are affordability of housing and flexibility of renting.
