Mortgage Blog

Refinance of small loans

November 17th, 2010 11:47 AM by Eric Fang

It's official. The Fed and Hud will not allow us to get different compasation based on the rates. The implementation will start April 1st, 2011. We don't have any details yet. BUt most likely we have the percentage pay based on the loan amount. Then for smaller loans, it will be very hard to get no closing cost loans any more.

Also, for the rentals, It may be hard to get no cost loans as well. Will keep you posted for any updates.

Posted in:General
Posted by Eric Fang on November 17th, 2010 11:47 AM



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