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loan programs: FHA Homeloans On The Rise - 01/08/09 07:16 PM
Stricter underwriting standards, higher down payment requirements, and more rigid credit score requirements are leading many home buyers to apply for Federal Housing Agency (FHA) mortgage loans. Loans issued through an FHA-approved lender often require only a 3.5% down payment and borrowers can have credit scores in the 600 range, as opposed to 680 or higher, which is the standard for most financial institutions. It's important to note that although FHA loans appear to be the best option for many home buyers, borrowers with FHA loans often pay a higher premium for mortgage insurance compared to a conventional loan.
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loan programs: No Home Loan Money Available? - 12/02/08 07:40 PM
I realize the financial status that this country is currently in, especially with all the lenders going by the wayside in the last 18 months. The mortgage bailout dollar amount seems to be continuosly growing from the original numbers. The good news is there are still lenders that are lending money! In no way am I "downsizing" the seriousness of the current economic status, but the news media has really spun out of control with information...which is actually no surprise to most mortgage/real estate professionals. A lot of the general public isn't aware what is really going on - specifically loan programs that … (1 comments)
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loan programs: Hope 4 Homeowners Program - 11/28/08 01:57 PM
The Hope For Homeowners Program (H4H) was recently released in October of 2008. The program seems like it would be a great solution to some homeowners out there that are in trouble. The problem is that I don't know of ANY lenders or banks that are actively participating in the program. I have spoken to a number of my colleagues and they also don't know of any lenders that are currently participating in the program. I heard a rumor that Countrywide may be participating in the program shortly, but I can't confirm this.
The H4H program will refinance mortgages for borrowers … (0 comments)
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Gerard Ladalardo, CIAS
Temecula,
CA
More about me…
CB International Realty
Address: 43402 Business Park Drive, Temecula, CA, 92590
Office Phone: (760) 805-7947
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