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…
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…
Many Sonoma County Loans have been denied due to loan-to-value restrictions imposed by Fannie Mae and Freddie Mac and an overall tight credit market. Last year the Obama administration announced the no loan to value refinance program for loans owned or guaranteed by Fannie Mae and Freddie Mac. For the last several months, many have…
Thinking about purchasing or refinancing using the Sonoma County mortgage? If yes, the mortgage insurance premiums on FHA Home Loans are set to rise again on April 1. The Federal Housing Administration continues to keep a close eye on their capital reserves and as a result, have instituted higher costs on FHA Home Loans originated…
Buying a house or refinancing a Sonoma County Mortgage? Since January 2012, there’s been a trend towards conventional mortgage loan financing. Conventional financing is your standard conventional/conforming loans ie: 30 year fixed rate mortgages, 15 year fixed-rate mortgages, 20 year fixed-rate mortgages etc. Conventional mortgages are the most basic types of loan products. They are…
Securing a mortgage loan today for a purchase or refinance is looking very attractive with interest rates near 4% on long-term 30 year fixed rates. Over the last couple of months, mortgage rates have hit record lows three times what the last one being last week with a 30 year fixed rate mortgage hit 3.94%.…
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…
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…