Congratulations purchase contract is accepted and you are now officially “in escrow”. You go ahead and send in all of your financial information to your mortgage lender, a few days goes by and you get some not so pleasant news. The loan has been counter approved requiring some changes to the mortgage loan program and…
The buzz is is everywhere… people who have loans owned by Fannie Mae or Freddie Mac will be able to refinance with no loan-to-value restrictions. This program is slated to take effect on November 15. The actual program is called (HARP) Home Affordable Refinance Program and it is designed to help people who have conforming…
Folks who have mortgages owned by Freddie Mac and/or Fannie Mae have been waiting for the 125% loan-to-value refinance for quite some time. Fannie Mae and Freddie Mac have been offering the program for months saying the program went to 125% loan to value. Only yesterday October 20, 2011 was the date of availability that…
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…
Sonoma County First Time Home Buyers are now getting to enjoy it easy street. For years, first time home buyers were capped at putting down hefty down payments. Since the markets have changed, first time home buyers in Sonoma County can now purchase a house with 0% down. Move up buyers can also purchase a…
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…