The Right Way To Take A Cash Gift For Downpayment

As lenders tighten mortgage guidelines for Indianapolis home buyers, minimum downpayment requirements are increasing.  Several years ago, you could finance a home with nothing down. Today, most conventional mortgages require at least 10 percent.

Anecdotally, guideline changes have led to an increase in the number of home buyers accepting cash ...

Separating FHA Fact From Fiction : Mortgage Insurance Premiums

The mortgage lending landscape changes a lot.  Rates and guidelines are in constant flux, and it creates preparedness challenges for buyers in Indianapolis that aren't paying in cash.

The loan you get today won't always be the loan you get tomorrow.

Because of how frequently bank rules are ...

First Time Home Buyers Down Payment Assistance

INDIANA HOUSING DOWN PAYMENT ASSISTANCE PROGRAM

If you are a first time homebuyer in Indianapolis, you should know your financing options. The Indiana Housing Program for first time homebuyers who are creditworthy, but may not have the initial upfront costs for downpayment and closing costs is a great option.

I ...

Time is Running Out for Indianapolis First Time Homebuyer Credit

If you plan to use the First-Time Home Buyer Tax Credit program to buy a home in Indianapolis, time is running out.  The program expires November 30, 2009 and closing on a home can take up to 60 days.

That leaves you about 6 weeks from today to find a ...

Indiana Housing Rates Down to 5.5%

Indiana Housing & Community Development Authority (IHCDA) lowered their rate today to 5.625%. When the buyer completes their home buying class (mandatory), they can receive a rate of 5.50%.

If you read my post a few weeks ago about the advantage of using the $8000.00 tax credit along ...

First Time Buyer Opportunity in Indianapolis

First time home buyers in Indianapolis have been given a great opportunity to buy a home! Changes on Friday in the first time tax credit and Indiana Housing have created a perfect storm for home buyers who have been trying to take advantage of the tax credit, which ends on ...

Indiana Housing Interest Rate Change

Today is July 1, 2008 and the interest rate on Indiana Housing loans goes up. This is twice in the last month. Effective today, the rate for a loan form Indiana Housing is 6.125%.

Buyers can still complete the online course and receive a .125% discount on the interest ...

Help Buying Your First Home in Indianapolis

Recent changes in loan programs have put the squeeze on some who were considering buying a home. I received an email two days ago from a client I had been working with, stating his pre-approval had expired and since he could no longer finance 100%, his home buying plans are ...