Mini Mortgage Questionaire
Posts By Brian Wiesner
New FHA rules will greatly aid in the home sales market of foreclosed properties in Los Angeles and other areas of California. HUD has announced a temporary waiver of its regulations providing that a loan will not be eligible for FHA insurance if the contract of sale for the purchase of the property is executed within [...]
Upland, California - 909-581-4075 x202
First-time buyers in Los Angeles County will notice a key difference between conventional loans and FHA loans. FHA loan guidelines allow the home buyer to receive 100% of the down payment and closing costs as gift regardless of your income. Conventional loans do not allow gifted funds to close. They must be 100% verifiable borrower funds. Most conventional loans [...]
Upland, California - 909-581-4075 x202
President Obama has signed a bill that extends the tax credit for California first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009 for FHA FTHB’s.
In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also [...]
Upland, California - 909-581-4075 x202
Los Angeles County FHA loan limits allow for a total loan amount of $742,520 with the up front mortgage insurance premium financed into the loan. I closed a $950,000 purchase last week with this loan amount for a first-time buyer. The FHA rates were lower than the High Balance Conforming rates and the buyer was [...]
Upland, California - 909-581-4075 x202
The $8,000 California First-time Homebuyer tax credit is set to be extended until April 30, 2010. The Obama Administration has urged Congress to pass legislation to extend the program in Los Angeles County, San Bernardino County and Orange County from its original Dec. 1, 2009 deadline. In addition, legislation may provide a tax credit for [...]
Upland, California - 909-581-4075 x202
FHA loans are the most popular loans in California. According to Burns Real Estate Consulting in Irvine, 59% of new-home buyers are using government backed loans . FHA loans in Los Angeles and San Bernardino County have long been annecdotally credited with the Southern California housing recovery. Now the data is in. That means that less than half [...]
Upland, California - 909-581-4075 x202
California FHA Streamline loans will have dramatic new rules. Effective with case numbers assigned on and after November 17, 2009, several revisions to the FHA Streamline Refinance Program will go into effect. For those that may think doing FHA home loans in Los Angeles, Orange and Ventura Counties is easy, read below!
Seasoning
-At the time of loan [...]
Upland, California - 909-581-4075 x202
Numerous statistical reports are out today regarding the financial health of the Federal Housing Administration’s mortgage insurance reserve holdings accounts. If on shaky ground, how does this affect California FHA mortgages, Los Angeles County FHA mortgages and San Bernardino County FHA mortgages?
You can decipher these reports with an economist’s “chicken little” eye glasses on, or regardless of [...]
Upland, California - 909-581-4075 x202
First-time homebuyers (FTHB) are using FHA loans all across California. Popular counties are Los Angeles, San Bernardino, Ventura and Kern. In this great real estate environment FHA loans are in use from Bakersfield to Claremont and Oxnard to Upland.
Home affordability is at an all time high with low interest rates and declining home prices. However, [...]
Upland, California - 909-581-4075 x202
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