Homes under $150,000 in El Paso Tx

MLS# P Address & State Apt/ Area Apx Sqft BR B H 3/
T Ut# A B 4
                                   B
384065  1R 3685 LAS QUINTAS 4 2340 3 1 0 1
EL PASO,  TX
387963  1R 11216 SKIPPER 4 2000 3 1 0 1
EL PASO,  TX
384841  1R 3708 DEER GRASS 4 2024 3 2 1 0
EL PASO,  TX
383841  1R 6443 NAVAJO 0 4 2146 4 1 0 2
EL PASO,  TX
383639  1R 1653 DENNIS BABJACK 4 2002 3 2 0 0
EL PASO,  TX
388042  1R 3201 TIERRA AIRE 4 1859 5 2 0 0
EL PASO,  TX
386188  1R 3389 MIKE GODWIN 4 1858 4 2 0 0
EL PASO,  TX
378337  1R 3021 LAKE TRAVIS 4 1838 3 2 0 0
EL PASO,  TX
389095  1R 6328 WIELAND 4 1834 3 2 0 0
EL PASO,  TX
386821  1R 1725 PAUL MORAN 4 1802 4 2 0 0
EL PASO,  TX
387144  1R 11708 NASA 4 2037 4 2 0 0
EL PASO,  TX
387321  1R 11993 BANNER CREST 0 4 1808 3 2 0 0
EL PASO,  TX
383219  1R 12018 VILLAGE GATE 4 1923 3 2 0 0
EL PASO,  TX
387267  1R 1470 DOS DEANNAS 4 2001 3 2 1 0
EL PASO,  TX
387201  1R 3125 JARVIS 4 1880 3 2 0 0
EL PASO,  TX
387354  1R 3629 WEST VITEX 4 2120 3 2 1 0
EL PASO,  TX
387314  1R 3609 TIERRA REAL WAY 4 1858 3 2 0 0
EL PASO,  TX
385004  1R 2129 ENERO 4 2016 3 1 0 1
EL PASO,  TX
389744  1R 3214 SHETLAND RD 4 1890 3 1 0 1
EL PASO,  TX
386015  1R 1529 NUECES 4 1810 3 1 0 1
EL PASO,  TX
388592  1R 14272 ISLAND POINT 4 1814 4 2 1 0
EL PASO,  TX
389046  1R 12234 EDGAR DEGAS 4 1926 3 2 0 0
EL PASO,  TX
389190  1R 2256 SEAGULL 4 1936 4 2 0 0
EL PASO,  TX
389141  1R 12240 TIERRA INCA 4 1812 4 2 1 0
EL PASO,  TX
388029  1R 10621 BIRTHSTONE 0 4 2298 4 1 0 1
EL PASO,  TX
388169  1R 11518 CLEAR LAKE 4 1901 3 2 1 0
EL PASO,  TX
388955  1R 12047 TIMOTHY DREW 4 1854 4 2 1 0
EL PASO,  TX

FHA 2010 Changes

With over 40% of all mortgages guaranteed by Federal Housing Administration, and in light of the housing trouble FHA commissioner David Stevens announced a set of policy changes to managing risk and strengthen it’s capital reserves. These changes include the following:

1. Increase MIP to 2.25%. Mortgage Insurance is paid by borrowers when the down payment is lower than 20%. It protects the lenders in the event of borrower default and makes lending possible for some buyers. This premium can be rolled into the loan.
2. Update the combination of FICO scores and down payments for New borrowers. The minimum score required will be 580 to qualify for FHA’s 3.5% down payment program. If FICO is less than 580 then 10% will be required for down payment.
3. Reduce Seller’s contribution from 6% to 3%. This change is expected to take effect by early summer 2010.

These changes are expected to slow the economy down as well as the housing market. Now is the time to lock in your home purchase before these changes take effect. There are never been a better time to buy. You currently have low interest rates, tax incentive of $6500-$8000, and Seller’s are motivated to sell and are presently allowed to contribute up to 6% toward closing cost. Although time is running out. You must have an executed contract on a home by April 30th and close by June 30th. The buying process is long and arduous but a competent and experienced Buyer’s agent will help you successfully navigate the most expensive and complex transaction you’ll ever make. If you are in the El Paso, Horizon city, Santa Teresa area call (915)873-8646 or visit Russell-Realtor.com.

FHA Loan Qualification Tips

Here are some things you can do to improve you debt-to-income ratios to qualify for an FHA loan. Your objective is to reduce your debt-to-income.

1. Pay down/pay off debt like credit cards that show up on your credit report.

2. Teachers should try to get your student loan deferred. ( these payments do not have to be included in your debt if deferred for 12 months).

3. Pay off an auto loan (this is one of the biggest killers on a credit report)

4. Consider a home in a lower price point