New Government Regulations for Mortgages Clarified
February 3rd, 2011- Purchasers will require an accepted offer to purchase in their hands dated no later than March 18, 2011 to qualify under the current rules to keep the 35 year amortization.
- The purchase of the new property must complete within 90 days of March 18, 2011 to keep the 'old' terms (35 year amortization)
- The exception is builder's projects or construction of single family dwellings where we can h ...