Posts By Brian Wiesner
Location
400 N. Mountain Ave., Suite 248,
Upland, California 91786
Phone: 909-581-4075 x202
Posts
Short answer: it’s either ignorance on the seller’s part, or the property cannot pass the FHA inspection that is required. Whether it’s Claremont, Glendora, Pasadena, Bakersfield, or Pomona, the property must meet minimum FHA standards. Long answer: Lately, FHA loans are harder to finish and close. There is a set of FHA rules. In addition [...]
California Home Buyers are eligible for FHA loans in Los Angeles County even if they have a bankruptcy in their credit history. The FHA, which simply is the mortgage insurance company that insures low-downpayment loans, allows for credit blemishes…as long as a plausible written explanation is provided by the borrower. Filing bankruptcy because you wanted to get [...]
The new Los Angeles County, California FHA Jumbo loan limits have opened the doors to high-cost areas like Arcadia, Alhambra, Claremont, Glendora, Monrovia, Pasadena, South Pasadena and Walnut. You can pay more for your home and actually save money with FHA’s new loan limits. Offer $750,000 on a home and you will have to bring [...]
For California FHA loans, sellers can pay up to 6% of the purchase price towards the borrower’s closing costs. An FHA lender or broker can use some of those monies for a permanent interest rate buydown. There are no differences between Los Angeles County, San Bernardino County…Claremont, Pomona, Glendora, Fontana…the 6% applies everywhere for California [...]
Upland, CA Mortgage 400 N. Mountain Ave. Ste. 248 Upland, CA 91786 Toll Free: 866-343-1579 Direct: 909-581-4075 s ——————– About Monaco Mortgage Corporation: With over 30 years of Southern California mortgage experience, the staff at Monaco Mortgage specializes in first-time buyer programs and mortgage planning. We make sure that our clients understand how their mortgage works and how [...]
FHA seller paid closing costs have increased along with the increase in California FHA loan limits . This has substantially improved the affordability for people wanting to buy primary residences and investment properties with FHA loans. With the new limits in Los Angeles County at $729,750, a buyer can get up to $43,785 in closing costs from the [...]
The FHA loan limits in Southern California have just been raised. Local cities like Claremont, Upland, Pomona, Rancho Cucamonga, Glendora, will all see their loan limits increase to help home buyers with 3.5% down payment FHA programs. Los Angeles County will see it’s FHA limits go up to $729,750 and San Bernardino County will have [...]
Contrary to popular belief, FHA rules do not require someone to be a first-time home buyer and you can also buy income property up to 4-units with an FHA loan in California. FHA loan limits are higher in Claremont, CA Los Angeles County than they are in Upland, CA in San Bernardino County, but in [...]
This post will specifically cover the topic of FHA gift money for my clients looking to purchase a home in the Claremont, Upland, Pomona, or Los Angeles, California areas. Gift money for an FHA loan can be used to cover the down payment and closing costs. Acceptable places to receive FHA Gift money from: Family [...]
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