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 every homeowner who is upside down on their mortgage, this is for you. An upside down mortgage is when somebody owes more on their mortgage balance than their home is worth, hence the term underwater. People who are underwater on their mortgage have limited options unless their mortgage loan is owned by 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.…
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…
In offering the best mortgages for all of Sonoma County, CA including Santa Rosa Refinance Loans and Petaluma Home Loans, its important to be aware of some underwriting guidelines changes set to occur October 1, 2011. USDA Loans, Conventional Loans, even FHA Mortgages and VA Mortgages have some slight changes. So far the biggest change…
The new Delayed Financing Rule allows you to take cash out of a property you just purchased within the last six months! If you paid all cash for a home within the last six months and want to pull cash out of the property you are now permitted to do so. The Delayed Financing Rule…