The Federal Open Market Committee announced on Wednesday of this week to leave the Federal Funds Rate unchanged within its target range of .25%. The Fed maintained an outlook for the US economy that since last month economic growth remains slow, unemployment rates remain elevated, and the housing sector remains depressed. Obviously, this is not…
Yes you can actually refinance your mortgage loan without starting over the 30 year term. As mortgage rates in Sonoma County have dropped this year, so have the actual costs of home ownership. It’s a fantastic time to purchase a home right now. It’s an even better time to refinance. This is a fact. Mortgage…
Mortgage rates and the financial markets move all day long. On any given day you can expect that mortgage rates have the ability to change several times. It is because of this when you are shopping for a home loan, you should compare a few different lenders looking at a combination of rates and costs.…
Fixed-rate mortgages are quite competitive right now, many are seeking 15 year fixed-rate mortgages. You can actually can obtain a 15 year fixed-rate mortgage loan under 4%. Homeowners looking to benefit from mortgage financing tend to look at 30 year mortgages as the benchmark home loan to take out. Consider a 15 year fixed-rate mortgage…
With the small variety of home loan programs available today selecting the right home loan program is easier now more than ever. There are lots of different options available for both purchases and refinances. For this blog post we are going to be discussing purchase loan programs. With a decent credit score, documented job stability/income…
Mortgage lenders today want to conduct a CIA analysis. A CIA analysis is short for credit income assets. These are the three things that we as mortgage lenders really need to see before we can tell you whether or not we can do a refinance loan or a purchase loan for you. Because I work…
There seems to be an ongoing stigma attached to FHA loans in the local Santa Rosa Sonoma County marketplace. The trend is that FHA loans are difficult to get because of specific property standards. Almost all the time, the property qualifies or the property has some small minor repairs that could easily be fixed prior…
Congratulations your offer has been accepted and you are now officially “in contract.” Within the next 30 days you will have your keys to your home and your Santa Rosa Mortgage will be in place. That’s down the road, right now there’s several things we need to be focused on to avoid a course correction…