Wednesday, September 21, 2016

RMBA Luncheon

As always the Richmond Mortgage Bankers Association September Education Series at Salisbury Country Club was awesome!  Great attendance and very educational! Thank you to Sherry Wilson and Linda Wine for being our guest speakers.

Tuesday, September 13, 2016

15th Annual Pig Pickin' on the James

It's not too late to buy your tickets for the 15th Annual Pig Pickin' on the James! Go to the Women's Council of Realtors website to purchase last minute tix - remember, no tickets at the door! C & F Mortgage will be sponsoring the beer truck for the event and it's sure to be a blast! See you there!

Wednesday, September 7, 2016

BIG CHANGES WITH VHDA Downpayment Assistance Program

Effective with locks on or after Wednesday, September 7th, VHDA is updating their DPA Grant program guidelines in order to make it a Sustainable program and will require the following:

• All borrowers must contribute a minimum of 1% of the sales price for each transaction. These funds may come from borrower contributions or other acceptable funds in accordance with the program guidelines. Gifts are acceptable.
• The maximum grant amount will be 2.50% for FHA loans and 2.00% for Fannie Mae loans.
• The minimum credit score will be 640 (for all borrowers).All borrowers must have a credit score to be eligible.
• The maximum debt to income ratio will be 41.00%.
• All loans must receive an AUS approval (Reminder: FHA with gift funds may not be run through LPA, only through DU). Manual approvals will not be accepted.

Thursday, September 1, 2016