NEW REQUIREMENT ON HOMEREADY AND HOMEPOSSIBLE VLIP
Fannie Mae and Freddie Mac have announced a new requirement that at least one borrower be a first-time home buyer (FTHB) to qualify for the $2500 lender credit for their HomeReady and HomePossible VLIP programs, respectively.
Any loans currently in the pipeline using one of these programs must close by 2/14/25 if none of the borrowers are FTHB.
Reminder: Important Updates to Fannie Mae HomeReady First: Effective Now
Changes are effective for loans locked beginning 2/1/25. Loans locked under current benefits must close by 3/31/25.
The unlimited cap on income is being removed, and now, the AMI cap is 140% These will be broken into two AMI cap buckets with updated Fannie Mae contributions for each
For borrowers with income up to 100% AMI:
Provides $6000 in down payment and/or closing cost assistance to first-time homebuyers ($4500 from Fannie Mae and $1500 from the NFM branch)
For borrowers with income between 100.1% to 140% AMI:
Provides $3000 in down payment and/or closing cost assistance to first-time homebuyers ($1500 from Fannie Mae and $1500 from the NFM branch)
All other program information remains the same: $500 appraisal reimbursement by Fannie Mae.
Available for borrowers who currently reside in a majority-minority census tract within these 21 MSAs.
At least one first-time homebuyer/borrower must live in a majority-minority census tract within one of the MSAs, but the purchased home does not have to be in an MSA. No location restrictions on where homebuyers can purchase their home. Education course is required.
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MARKETING UPDATES
Let’s Talk About Your Dashboard!
Stay organized in Total Expert with an overview of your database, campaign open rates, and tasks Explore your dashboard to monitor marketing and email performance all in one place! If you missed this Training, reach out to carrie@mainstreethl com for the recording
“I don’t know where to begin! The process from start to finish was absolutely seamless, including a deep knowledge of the market and finance options, continuous communication, and a drive to get the job done! We were absolutely blown away by the terms and interest rate Neil and his incredible team were able to deliver When were at the closing table at the title company all of the professionals involved couldn’t believe what a great deal we got 10 stars if that was an option!”
-Sandra M , Purchaser
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Health&Wellness
AMERICAN HEART MONTH
February is American Heart Month, and as we continue into 2025, it is a good time to consider healthy habits Heart disease is the number one cause of death in Virginia VDH and its partners encourage you to make a few simple changes to your daily routine Simple health changes can help you reduce the risk of heart disease
Choose healthy meals and snacks. Include fresh fruits and vegetables in your diet. Choose foods lower in sodium and saturated fat. Try some heart healthy recipes. You can find recipes on MyPlate, a resource from the U.S. Department of Agriculture.
Make physical activity a regular part of your day. Adults should get at least 2 hours and 30 minutes of moderate-intensity exercise per week This type of exercise could be a brisk walk, running, or bicycling
Take steps to quit smoking. Contact Quit Now Virginia They offer a free counseling program via telephone or online They also offer Text2Quit support, self-help materials, and referrals to local resources Contact the program at 1-800- QUIT NOW (1-800-7848669) or learn more at the Quit Now Virginia Website. Check your blood pressure. Read more about ways to prevent and manage blood pressure.
DID YOU KNOW?
In the United States:
Heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups
One person dies every 33 seconds from cardiovascular disease
In 2022, 702,880 people died from heart disease. That's the equivalent of 1 in every 5 deaths Heart disease cost about $252.2 billion from 2019 to 2020. This includes the cost of health care services, medicines, and lost productivity due to death.
MAIN STREET KITCHEN & BAR
TUSCAN CHICKEN SOUP RECIPE!
INGREDIENTS
1 teaspoon olive oil
1 1/2 pounds boneless, skinless chicken breasts or thighs Diced into 1 inch pieces
2 teaspoons Italian Seasoning, Divided salt and pepper to taste
1/2 cup diced carrots
1/2 cup diced celery
1/2 cup diced onions
1/4 cup diced sundried tomatoes
3 garlic cloves Minced
1/4 cup flour
2 tablespoons tomato paste
6-8 cups chicken broth I recommend start with 6 cups. See notes.
6 oz pasta of your choice
1 cup heavy whipping cream
1/2-1 cup grated parmesan reggiano cheese
2 1/2-3 cups fresh spinach
INSTRUCTIONS
Heat the olive oil in a large soup pot or Dutch oven over medium-high heat. Add the chicken and 1 teaspoon of Italian Seasoning, salt and pepper to taste, and cook until browned on all sides, about 45 minutes.
In the same pot, add the onions, carrots, celery, sundried tomatoes, and garlic and cook until translucent, about 3-4 minutes.
Sprinkle the flour throughout and stir well to combine. Add the flour in stages to avoid excess drying. If you plan to add tomato paste, add it here and stir.
Gradually whisk in the chicken broth and stir repeatedly, ensuring there are no lumps Deglaze the bottom of the pan using your spoon
Bring the mixture to a rolling boil and add in the pasta and 1 teaspoon of Italian seasoning, salt, and pepper to taste Cover the pot with the lid and lower the heat to low to let the soup simmer for about 20 minutes, or until the chicken is cooked through and tender and the pasta is al dente Alternatively, you can boil the pasta separately, and add it at the end 5
Open the pot and stir in the heavy cream, spinach, and grated Parmesan cheese, and let the soup simmer for an additional 5 minutes
Taste and adjust the seasoning with salt and spices if needed
Black History Month is an annual celebration of achievements by African Americans and a time for recognizing their central role in U S history Also known as African American History Month, the event grew out of “Negro History Week,” the brainchild of noted historian Carter G. Woodson and other prominent African Americans. Since 1976, every U.S. president has officially designated the month of February as Black History Month. Other countries around the world, including Canada and the United Kingdom, also devote a month to celebrating Black history
The theme of Black History Month 2025 of 'African Americans and Labor' was developed by the Association for the Study of African American Life and History, and intends to encourage broad reflections on intersections between Black people’s work and their workplaces in all their iterations and key moments, themes, and events in Black history and culture across time and space and throughout the U.S., Africa, and the Diaspora. Did you know? The NAACP was founded on February 12, 1909, the centennial anniversary of the birth of Abraham Lincoln. www.blackhistorymonth.gov
