The Sonoma County mortgage market is fluid in the availability of mortgage money. Mortgage lenders however, are concerned about one thing: that is risk. When making home loan, a mortgage lender is concerned about risk above and beyond anything else. They want to make sure the loan they are funding can carry “representation and warrants”…
If you are thinking about taking out a mortgage loan run some payment scenarios first. Figure out how much you can afford based upon using a simple mortgage loan calculator which will give you your payment, property taxes, fire insurance as well as take into consideration any extra principal payments that you choose to make…
The temporary FHA Loan Limits were reduced on October 1, 2011 as Congress elected to not renew them. The county by county loan limits were reduced to original loan limits which were upwards of $100,000 or more less per county. Congress re-evaluates! Congress has reevaluated their decision and have agreed to reinstate the previous loan…
Stop and listen up if you had a previous bankruptcy on or before December 2, 2009 you can get a mortgage loan. You had a previous foreclosure or short sale on or before December 2, 2008 you can get a mortgage loan. Let 2012 be the year to get back on your feet and secure…
Mortgages rates across the board improved today on the news of the unemployment rate falling to 8.6% from 9%. The unemployment rate has not been this low for 2 1/2 years. Initially, the stock market improved on the news on .4 % change in the unemployment rate with a liquidation of bonds. During trading this…
For financing real estate, the 30 year fixed-rate mortgage still remains the most popular home loan for borrowers. The majority of borrowers today take out 30 year fixed-rate mortgages because of the flexibility and comfort of a long-term fixed rate. 30 year fixed-rate mortgages today contain no prepayment penalties unlike their counterparts from a few…
People purchasing real estate today often times are faced with procuring gift monies in order to bridge the gap between being preapproved to closing escrow on a property. Many times gift monies can be an excellent source of additional funds needed for loan qualifying or down payment purposes. If you are going to be purchasing…
The Federal Reserve’s minutes of the last meeting came out yesterday and it was revealed the Federal Reserve will continue to inject money into the economy to spur economic growth in the form of quantitative easing. The Fed meeting minutes also revealed they are positioning themselves to be in lockstep coordination with the financial markets.…