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home loan: How does your FICO score affect your interest rate - 02/09/11 02:42 PM
Your apparent risk as a borrower may dramatically affect the interest rate you have to pay. To a lender, there are three key risk components:
1. Credit rating - this is your personal history demonstrating your responsibility. The higher your score, the more trustworthiness you have demonstrated and are expected to continue to demonstrate.2. LTV (loan-to-value) - this serves two purposes. First, by having a higher down payment (hence a lower LTV), the lender is more protected against market downturns. Second, the more skin in the game you have, the more likely you are to stick with it.3. Loan Amount - … (0 comments)
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home loan: Did we learn nothing? FHA relaxes lending guidelines - 08/24/10 12:35 AM
FHA RELAXES LENDING GUIDELINES
Not that long ago 45% DTI (debt-to-income) was the recommended maximum with 50% being a drop-dead point.
Because FHA does not impose a hard ceiling for debt ratios, this is now rapidly changing. Now new investors are aggressively entering the market place and competing for a bigger a share of the FHA pie.
These new investors are basing their approvals up to 55% DTI. If FHA agrees to buy the loan there is no risk to the investor. The loan is insured by a hefty PMI (aka" MIP") upfront premium (was 2.25% now dropping back to 1%) … (11 comments)
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home loan: Loans Are Not Priced by "Excellent, Good, Fair, Poor" - 08/12/10 04:22 PM
Dear friends and clients. The following is an _excellent_ (and a few other superlatives) post about interest rates for your loan. It describes and provides clues as to why the rates we talk about for your home loan might seem out of line with those great mortgage rates you might see posted somewhere on the internet. In short. there are lots of moving parts which are specific to your situation which make all the difference in what kind costs go into your loan.
Via Deborah Garvin California Mortgage Financing (Capital Empire Funding, a subsidiary of Gateway):
Many, many loan officers and banks post … (2 comments)
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home loan: Mortgage Interest Rates and Bernanke Semi-annual Review of Monetary Policy - 07/21/10 05:10 PM
Mortgage Backed Securities prices are up, even as the latest round of corporate earnings are better than expected. Uncertainty about the markets and the economy seem to be propping up bond prices very well - which means that interest rates remain low
Later today, Fed Chief Ben Bernanke will speak before the Senate. Bernanke will be presenting his semiannual review of monetary policy. The markets will be listening closely to his remarks for color on jobs, economic growth, quantitative easing, business investment, and other pressing topics.
--> Update: Bernanke indicates the FMOC still has cards up their sleeves to do what … (0 comments)
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home loan: Mortgage rates: lower costs or lower APR - you decide which is right for you - 06/28/10 11:31 PM
Mortgage rates: lower cost or lower APR? You decide which is right for you Why the lowest APR may not be the best mortgage loan for your home loan Mortgage lenders vying for your loan may tell you they have the lowest APR, but is this good for you or for them? "How do you compare mortgage rates?" is the second thing you should be asking yourself when you consider homes for sale, a mortgage refinance, or investment property.
The first thing is to know your ownership plan. How long do you intend to hold on to the property and how long do you … (1 comments)
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San Diego Real Estate & Mortgage Loans | Robert T. Boyer, Ph.D. | VA Home Loan
La Jolla,
CA
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FHA Loan, VA Loan, Jumbo Loan,FHA Loans,VA Loans,Jumbo Loans
Address: ALL California,San Diego,La Jolla,Del Mar,Carmel Valley, Los Angeles,San Francisco,Orange, Ventura, Bay Area, San Diego, CA, 92130
Office Phone: (858) 442-1322
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The San Diego Real Estate Housing Market tends to lead the nation's real estate activities. This blog looks at current activity and trend data, including sales rates, months of inventory, median home price, unemployment, inflation, etc., with an intent to provide timely predictions for our market. Because such a large part of the current market is make up of San Diego Foreclosures and REOs we will also look deeply at how they affect the current environment. Additionally, specific market segments are monitored, such as La Jolla Real Estate, Del Mar Real Estate, Rancho Santa Fe Real Estate, and Carmel Valley Real Estate
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