An Interesting look at Interest Rates
A good infographic on the history of interest rates.
The $500 Home Down Payment is BACK!
Wow! This was quite the week for Home Lending in California First the good news: CalHFA (the California Housing Finance Agency) announced today that they are eliminating their requirement that borrowers need a 1% cash investment into the transaction – and the requirement that it be from the borrower’s own funds. What this means is [...]
Why are we changing the FHA MIP?
THE NEW SYSTEM WILL DRAMATICALY DECREASE DEPOSITS INTO THE MIP INSURANCE FUND! No, really, it's true.
What does getting “Prequalified” mean?
There is nothing worse than loosing out on a home because you could not provide a strong pre-approval letter. Listing agents are starting to demand not only strong pre-approval letters that specifically mention what steps the lender has taken, but proof of funds and even Fannie Mae approval printouts!
Changes to FHA – not just the flipping rule!
The seller credit is reduced from 6% to 3% & The MIP is going up to 2.25%.