How will Fed’s Quantitative Easing impact San Francisco Bay Area Home Loan Rates for Refinance and Home Purchase?
But before we get into how this will impact mortgage rates for San Francisco Bay Area current and future home owners, lets find out what does Quantitative Easing (QE) really means!
Home buyers in Texas are often asking what they can do to ensure a smooth closing. With all of the changes in this industry and to our Underwriting guidelines I have put together a small list of items, which if followed, will aid to make your closing a success.
Any guesses on whether or not this home will meet the requirements for a FHA loan in Phoenix?? Below are some of the important guidelines most appraisers utilize when they appraise a home in Phoenix where a FHA home mortgage is used for financing. 1: Home Inspections: Borrowers are encouraged to obtain a detailed home inspection of the property. Borrowers should research home [...]
Phoenix home buyers looking to take advantage of all-time low interest rates, depressed housing prices, and a low down payment loan should consider a FHA loan when buying a new home in which to live.
The Maryland 2011 FHA loan limits by county are unchanged from 2010. With only a 3.5% down payment, FHA mortgages have been a great mortgage option for First Time Home Buyers. For more information about a Maryland FHA Mortgage, Loan Limits, or FHA guidelines, please feel free to contact me directly. Bill Sohan 410-963-2308 County [...]
For San Jose home purchase or refinance qualifying for ARM (Adjustable rate mortgage) and Interest only loans will be more difficult. Fannie Mae and Freddie Mac are making the following changes to Interest Only and Variable Rate Mortgages (3/1 and 5/1 ARM) Loan Programs. These changes go into effect immediately. 3/1 and 5/1 ARM Qualification [...]
How can a fully approved loan get denied for funding after the borrower has signed loan docs? Simple, the underwriter pulls an updated credit report to verify that there hasn’t been any new activity since original approval was issued, and the new findings kill the loan. This generally won’t happen in a 30 day time-frame, [...]
Although every situation is unique, it is not uncommon for homebuyers to qualify for a mortgage on a new home while still living in their primary residence. Perhaps you are outgrowing your current house, or have been forced to relocate due to a job transfer? Regardless of the motivation for keeping one property while purchasing [...]
The FHA Mortgage Insurance Premium is an important part of every FHA loan. There are actually two types of Mortgage Insurance Premiums associated with FHA loans: 1. Up Front Mortgage Insurance Premium (UFMIP) – financed into the total loan amount at the initial time of funding 2. Monthly Mortgage Insurance Premium – paid monthly along [...]
Providing proper asset documentation and the actual source of the funds is a critical element of the loan closing process. There’s nothing worse in a real estate purchase than making it all the way through the hoops and hurdles just to have a loan denied after the final documents have been signed due to the [...]
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