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New Income Guidelines for USDA will Help More Tri-Citians Buy Homes

April 27th, 2009 11:20 AM

Good news for local home buyers. The USDA recently changed the income limits for their zero down program. In the Tri-Cities you can earn up to $74,550 as a single home buyer and still qualify for the program. What does this mean for local home buyers? More house, less payment! The USDA program allows buyers that do not currently own a home, or at least won't own a home at the time their new purchase closes, to purchase with zero down, collect closing costs from the seller and pay no monthly mortgage insurance. In short, unless you're a Veteran, the USDA program is the only way to purchase with no money down! You must purchase a home in an eligible area. To see if the home that you're interested in qualifies, please contact an AmeriChoice Home Loans team member at 735-6603.

Here are the limits for Benton & Franklin Counties:
Family Size 1-4 persons 5-8 persons
$74,550 $98,400

Posted by Dana Mundy on April 27th, 2009 11:20 AMPost a Comment (0)

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Test

April 2nd, 2009 4:14 PM

http://www.epropertysites.com/consolidated.htm?&id=1207262900

Posted by Dana Mundy on April 2nd, 2009 4:14 PMPost a Comment (0)

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Hanford to Get $1.96 Billion - Creating more jobs!

March 31st, 2009 2:21 PM

STIMULUS: Hanford to get $1.96 billion, creating jobs

By Herald staff

Richland Hanford will receive $1.96 billion under the American Recovery and Reinvestment Act to accelerate cleanup of the nuclear reservation and create jobs.

Officials had been expecting Hanford to receive close to $2 billion and Energy Secretary Steven Chu confirmed that this morning as he announced $6 billion would be spent on Department of Energy environmental cleanup work in 12 states.

The DOE Hanford Richland Operations Office will receive $1.635 billion for work to clean up central Hanford and the river corridor.

That work will include demolishing old buildings, digging up waste sites and contaminated soil, and cleaning up and protecting ground water.

The other DOE Hanford office, the Office of River Protection, will receive the remainder of the money, $326 million.

The money will be used for projects to prepare for the treatment at the vitrification plant starting in 2019 of millions of gallons of high level radioactive waste held in underground tanks.

Projects include speeding of the design for a temporary storage facility for waste once it is turned into a stable glass form at the vit plant, making improvements to the 222-S Analytical Laboratory and constructing systems to transfer the waste to the vitrification plant.

The money also will be used to develop programs to make sure that leak-prone single-shell tanks will be sound enough to hold waste until it can be treated.

“These investments will put Americans to work while cleaning up contamination from the Cold War era,” Chu said in a statement. “It reflects our commitment to future generations as well as to help local economies get moving again.”

For the full story, see Wednesday’s Herald.

Posted by Dana Mundy on March 31st, 2009 2:21 PMPost a Comment (0)

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GOOD NEWS for Home Buyers! Area housing authorities to get stimulus money

March 25th, 2009 9:30 AM

Area housing authorities to get stimulus money
by the Herald Staff
About $1 million in federal stimulus money will go to support public housing in the Tri-Cities, Sen. Patty Murray announced Tuesday.The money, part of the American Economic Recovery and Reinvestment Act that became law last month, is intended to create jobs and help struggling families by improving public housing sites, a news release from Murray's office said. The money includes $376,000 for the Kennewick Housing Authority and $632,000 to the Housing Authority of the City of Pasco and Franklin County. Information on how the money will be used wasn't available Tuesday.

Posted by Dana Mundy on March 25th, 2009 9:30 AMPost a Comment (0)

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FHA Limits Cash-Out Refinances

March 16th, 2009 5:12 PM

FHA LIMITS CASH-OUT REFINANCES TO 85%

HUD Mortgagee Letter 2009-08
Released on March 12, 2009

Tri-City, WA homeowners wanting to refinance need to ACT NOW!

Effective for FHA case number assignments on or after April 1, 2009, the loan-to-value (LTV) of any cash-out refinance to be insured by FHA may not exceed 85% of the appraiser's estimate of value.

Given the continued deterioration in the housing market, and FHA's need to limit its exposure to undue risk, this reduction in the maximum LTV for cash-out refinances is being instituted on a temporary basis while FHA further analyzes the housing and mortgage industry as well as its own portfolio to determine whether permanent measures should be taken.

If you or someone you know might be effected by this dramatic change, please contact me immediately. Act now before your ability to refinance is in jeopardy. Call 509.735.6603 and speak to a Tri-City Loan Professional to see if this change will effect you.

Posted by Dana Mundy on March 16th, 2009 5:12 PMPost a Comment (0)

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