“FHA ANNOUNCES PRICE CUTS TO ENCOURAGE STREAMLINE REFINANCING Millions of FHA borrowers could save average of $3,000 a year WASHINGTON – Today, Acting Federal Housing (FHA) Commissioner Carol Galante announced significant price cuts to FHA’s Streamline Refinance Program that could benefit millions of borrowers whose mortgages are currently insured by FHA. Beginning June 11, 2012,…
Not a week goes by when we are not asked “how soon can you buy a home or refinance a mortgage with a previous foreclosure, short sale or bankruptcy”. As the market continues to improve, many people are still seeking mortgage loans. Home buying opportunities have never been more affordable coupled with the low interest…
Buying a house is certainly a smart financial move given low mortgage rates and the most affordable home prices, ever. Each market is different so for our purposes we will be looking at the Sonoma County California housing market. Following is what you can expect if you plan to purchase a house in Sonoma County…
Taking out a mortgage loan requires careful consideration of all the costs associated with a purchase or refinance transaction. For many, trying to do their due diligence of mortgage comparison shopping, reading, analyzing and interpreting the good faith estimate can be somewhat of a misnomer. The revised good faith estimate goes into much greater detail…
There’s an old saying amongst homeowners that you shouldn’t refinance your mortgage unless you can save 1% in interest rate. So in other words, if your mortgage is 5% for example, and you can get for 4.125% on a new home loan refinance, you shouldn’t do it because you’re not saving the full 1%. This…
Thinking about taking the plunge into the Sonoma County Real Estate Market? Summer is right around the corner and now couldn’t be a better time to get preapproved with a mortgage lender to begin the home search. What you’ll experience as a home buyer in today’s market is a lower inventory of homes for sale…
Searching for a home financing? If yes, consider the most common types of mortgage loans available today. The two most common types of mortgage loans are government loans and conventional loans. When we say government loans, we are referencing FHA Mortgages and USDA Mortgages. VA Mortgages also fit under this category although VA financing is…
Everyone wants to have good credit to secure the best interest rate for mortgage loan financing. Credit scores range from 500 to 800, although we’ve seen credit scores as high as 820 before. Despite the fact that getting a mortgage today involves showing full income, full assets and a complete credit history, the need for…