30-year fixed rate under 3.25%?

Well, not exactly, but CalHFA’s Mortgage Credit Certificate income increased yesterday to $57,840 for a Sacramento family of one or two people, and to $72,300 for families of three or more effective yesterday! How is this under 3.25%?  Well on a $200,000 loan at 4.5%, the government actually pays $150 of the mortgage payment via a tax credit!  That’s the equivalent of lowering [...]

By |2014-08-28T00:29:53-08:00January 8th, 2014|Popular Topics|0 Comments

Just what is an Annual Percentage Rate?

This is a very interesting question - especially in light of how important everybody from idiotic politicians to equally uninformed journalists seem to think it is.  Personally I've never met ANYONE who actually knows what it is outside the lending industry, and surprisingly most people IN the lending industry don't really understand it. So what [...]

By |2010-01-06T16:32:45-08:00January 6th, 2010|Loan Talk|0 Comments
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