If you are thinking about taking out a mortgage loan whether that be a purchase or refinance, you’re not always necessarily going get the preferred interest rate if your loan amount is on the lower end. It is certainly a contradictory way of thinking, but it is absolutely true. The reason is because Fannie Mae…
Getting conventional financing? How about a 15 year fixed-rate mortgage or a 30 year fixed-rate mortgage? Depending on your loan to value, new underwriting guidelines might affect your ability to get financing. This is update is accordance with purchases and refinances. Following are some of the conventional mortgage loan updates as of October 8, 2011.…
Friday October 7 marked the latest jobs report coming in showing the new unemployment rate for the US economy. Mortgage rates rose on Friday on the news of the unemployment rate holding steady at 9.1%. Mortgage rates usually improve upon the unemployment report because lately it’s been very dismal. The market action usually shifts to…
For those of us who have been watching Congress over the last few months hoping for a change in the extension of the higher loan limits, unfortunately that day never came. The new Sonoma County Loan Limit is $520,950. This is in place for all loans including FHA loans as well as conventional high balance…
People purchasing and refinancing homes always are asking the question is it best to get the lowest APR or the lowest interest rate and what’s the difference? You need to make sure you are actually comparing apples to apples. If you are refinancing a home or purchasing a home you’re going to receive Truth In…
Thinking about buying a condominium or unit in a planned unit development? If yes, first off congratulations on deciding to get preapproved to purchase real estate. The best areas in Sonoma County for condominiums are Rohnert Park followed by a Santa Rosa. Sometimes the property you might be looking at is really a planned unit…
Getting out of debt and mortgage free seems to be on everybody’s mind with these low mortgage rates. In fact there is a lot of truth to making a biweekly mortgage payment. A Biweekly mortgage payment is in essence doubling up on your payments to pay off your house faster. Calculate your mortgage payment. One…
For any homeowners who are in the predicament of choosing a short sale versus a foreclosure, this information is for you. Many people will tell you to just let the property go to foreclosure and in some cases that is the best route, but more often than not, a short sale makes more sense for…