It is official. The bill HR 5981 has been passed and made into law. But what exactly does that mean to people in the process of LOOKING for a home? My hope is that these points will clarify any and all of your questions:
First the great news. If you are currently looking at an FHA [...]
Carlsbad, California - 760-536-6200
Is the 203k loan a good idea to purchase a bank foreclosure in Baltimore, Maryland?
Most (Real Estate Owned, Bank Owned) houses are run down. That is why banks sell them so cheap.
The problem is that financed buyers can’t buy houses with holes in the walls, broken windows, missing bathrooms, filthy carpets, etc. Or buyers don’t [...]
Baltimore, Maryland - 410-963-2308
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 [...]
San Francisco Bay Area, California - 408.905.6261
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 with Principal, Interest, [...]
Las Vegas, Nevada - 702-432-5626
The VA Funding Fee is an essential component of the VA home loan program, and is a requirement of any Veteran taking advantage of this zero down payment government loan program.
This fee ranges from 1.25% to 3.3% of the loan amount, depending upon the circumstances.
On a $150,000 loan that’s an additional $1,875 to almost $5,000 [...]
Las Vegas, Nevada - 702-432-5626
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