Author Archive
HVCC – Why California Residents Need To Care About The Home Valuation Code of Conduct
The Home Valuation Code of Conduct (HVCC) is already having a negative impact on California real estate and mortgage transactions.
This recent article in the LA Times tells a better story about how HVCC is hurting mortgage brokers, real estate agents, appraisers, and consumers.
Your voice needs to be heard – please take the time to sign [...]
8000 Tax Credit Guidelines for California First Time Home Buyers
The updated 8000 Tax Credit Guidelines for California First Time Home Buyers has been released by HUD for FHA loans as of May 29, 2009. Although the credit may not be used for the minimum down payment of 3.5%, it may be used for buying interest rate down, closing costs and/or additional down payment.
Here are [...]
California First Time Home Buyers can use 8000 Tax Credit for Down Payment
It’s not official yet, but FHA is working on allowing California First Time Home Buyers to use the $8000 tax credit for a down payment on a home in Riverside County including Temecula and Murrieta.
The Secretary of HUD released a mortgagee letter 2009-15 on Monday, May 11, 2009, that provided very little detail in the [...]
FHA Streamline Refinance in Temecula and Murrieta California
FHA Streamline Refinances in Temecula and Murrieta California are in high demand since this program is used to lower interest rates with relatively low costs. There is much confusion on the term “streamline” as some borrowers think there are no costs. It simply means there is very little documentation and underwriting that needs to be performed [...]
$8000 Tax Credit for California Homebuyers
How Can I Obtain an $8000 Tax Credit in California?
First, follow these 9 Easy Steps to buying a California Foreclosure, the same steps apply with a Temecula or Murrieta seller listed home or a Temecula or Murrieta For Sale by Owner
Second, see Form 5405 and read pages 2-3 for instructions
Third, consult your Temecula or Murrieta [...]
FHA Loans Have New Limits in California for 2009
You are most likely asking yourself, “FHA Loans have new limits in California for 2009? I’ve heard this before.” Yes, you are correct. You have heard this before. California FHA Loan Limits were updated in late 2008 to take effect on January 1, 2009. FHA Loan Limits were decreased in [...]
How can I buy California Foreclosures?
This is typically the first question our Temecula and Murrieta Mortgage clients ask when applying for a new home loan – how can I buy California Foreclosures?
If you were to type “California Foreclosures” in a search engine, the top results generally turn up Real Estate Agent and mortgage lead sellers.
Even though speaking to multiple people [...]
2009 FHA Loan Limits for Riverside and San Diego County, CA
The Temporary FHA Loan Limits of 2008 are history. The New FHA Loan Limits for 2009 are here and have been decreased in Riverside and San Diego Counties. The majority of California counties fall below the current Conforming Loan Limit of $417,000 and even below the past FHA Limit of $362,790. However, [...]
California Mortgage – How Much Can You Borrow & What Documentation Do You Need
How Much Can You Borrow?
How do banks decide how much money to lend you in Temecula, Murrieta and all of Riverside County California? They base their decision on their estimate of your ability to repay the loan.
To make this estimate, they look at your income, your available cash, your debt, your credit history and your [...]
How to Get a FHA Streamline 203k Loan in Temecula and Murrieta, California
If you’ve been passing up buying homes that require cosmetic repairs for lack of funds to fix them up, FHA has a program for you. Not to be confused with FHA’s much more complicated 203K program, a Streamlined 203K loan eliminates much of the paperwork and simplifies the process to obtain rehab [...]
