If you live in or own real estate in Sonoma County and need to refinance, the Harp 2.0 Refinance Program could be just the ticket to successfully reducing your interest rate and monthly mortgage payment. The Making Homes Affordable Program lifted their maximum loan-to-value requirements on March 18, 2012 for loans owned by Fannie Mae…
Purchasing a house is one thing, successfully closing escrow on a purchase mortgage loan is something else entirely. The top three mistakes home buyers and real estate agents make has nothing to do with mortgage loan financing and everything to do with the real estate purchase contract. “Anything specified, spelled out or added to a…
“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…
Mortgage Insurance is the dreaded monthly cost mortgage lenders put on borrowers looking to purchase or refinance with lower equity. Mortgage insurance, while it is an added cost, is not necessarily the evil it once was. While it is true, mortgage insurance does affect the total mortgage payment, the loan programs that contain monthly mortgage…
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…
Getting your home loan request denied, is certainly not a fun thing to deal with. Lots of times certain mortgage companies have internal mortgage loan underwriting requirements which might be more constrictive than a competitor of theirs. Not every mortgage company has the same set of guidelines and standards. Fannie Mae and Freddie Mac and…
Thinking about getting a mortgage loan? If that is a yes, purchase or a refinance mortgage, make sure your federal income tax returns are clean. Mortgage lenders will run a fine tooth comb through your federal income tax return looking for any losses in income which reduces your ability to qualify. Getting a home loan…