Great News From Veterans Affairs

The department of Veterans Affairs will use a locality based approach in raising ceilings on its n0-down payment home loans from $417,000.00 to as much as $729,000.00. The increase are effective immediately under the Housing and Economic Recovery Act of 2008. The increased limits for veterans are based on local housing costs, tied to the similar locality adjustments of the Federal House Loan mortgage Corporation., Freddie Mac. More information about VA home loans is available at www.homeloans.va.gov. Source: Department of Veterans Affairs. Feel free to contact me at: findit@LehighValleyRealty.com

Mortgage News!

Buyers flock to FHA, government-backed loans Borrowers are flocking to government-insured loans, particularly those offered by the Federal Housing Administration, as they seek to refinance out of costly adjustable-rate mortgages or take out purchase loans with low down payments. The Mortgage Bankers Association says applications for government-insured loans were up 133.9 percent in July from a year ago, while applications for conventional loans like those purchased and guaranteed by Fannie Mae and Freddie Mac fell 50.2 percent. The FHA loan limit increases signed into law earlier this year, coupled with the permanent increases included in the recent Housing Bill can be credited with increased applications for these loans.Source: Inman News, 8.18.08

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Enviromental Home Hazards

Although homeowners say they are concerned about common environmental health risks, they often do little to protect themselves. A recent survey by pest control company Orkin, Inc., with the assistance from the Centers for Disease Control (CDC) and the National Center for Healthy Housing (NCHH), found that 70 percent of owners have never had their homes tested or inspected for lead, radon, carbon monoxide or mold even though they are concerned that environmental hazards could affect their health. While nearly all (95 percent) are aware that pests, such as ticks, mosquitoes, roaches and rodents can spread disease, nearly 70 percent reported that they do not consult a pest control professional. The CDC, NCHH and Orkin have launched a public awareness campaign to educate consumers on how to protect themselves against harmful environmental health hazards and close the gap between awareness and action. If you have any questions contact me at: findit@LehighValleyRealty.com Have a great day.

Energy Star Info

This is an interesting site to help you find energy efficient products. Figure out how much you would save by using an Energy Star fan at http://www.energystar.gov/ Click the "heating and coling" link through to ceiling fans, where you will find a Savings Calculator worksheet as well as lists of energy efficient fans. The site goes into quite of few different areas like making your HVAC more efficent. If you like more info contact me at: findit@LehighValleyRealty.com