Ar_home_b_search
 



guidelines: Do You Really Want to Close Your Mortgage Home Loan on Time in California or ANYWHERE? - 04/12/12 10:52 AM
 
San Francisco Ca, As you have heard, basically…EVERYWHERE IN THE MEDIA, lenders require A LOT of documentation to close a loan when purchasing or refinancing a home in this day and age. Loans are definitely fully documented and without question YOUR BEST DEFENSE IS A GREAT OFFENSE!
That being said here is what you must have prepared with your lender and agent when prepared to write offers:
·         A Cover Letter – Tell your story and make sure your lender know your story.  Don’t forget to include any skeletons dangling in your closet, collections, alimony, child support or unpaid IRS … (0 comments)

guidelines: Home Affordable Refinance Program HARP 2.0 Update San Francisco California Bay Area - 04/12/12 10:47 AM

San Francisco Bay Area Home Affordable Refinance Guidelines include:
- Removing the 125 percent loan-to-value.
- Waiving risk-based fees on borrowers who take shorter term mortgages and reducing those fees for others.
- Eliminating the need for a new property appraisal where there is a reliable AVM (automated valuation model) estimate provided by the GSEs
- Eliminating certain representations and warranties required of lenders to obtain the GSE guarantee. This will protect lenders from many of the buy-back requirements they face under current guidelines
- Extending availability of the program through the end of 2013
For more information on getting … (0 comments)

guidelines: FHA Mortgage Insurance is on the Rise in the San Francisco Bay Area AGAIN! - 03/02/12 12:25 PM

Direct Link
http://youtu.be/GRLKjW9jJ3Y
On April 1st the Federal Housing Administration is increasing both upfront and annual premiums for its insured single family loans. The annual increase will be .10 % to make the annual mortgage insurance premiums 1.25% mandated by the Temporary Payroll Tax Cut Continuation Act of 2011.
But that’s not all! FHA is exercising its authority to raise other fees for the specific purpose of strengthening FHA’s Mutual Mortgage Insurance Fund (MMI).
The upfront premium, which went down in 2010 is going right back up to 1.75%. A .75% increase from the current 1% premium. This change will … (0 comments)

guidelines: Allowable VS Non-Allowable Closing Costs a Veteran May Pay When Purchasing or Refinancing Using VA Financing in The SF Bay Area - 02/10/12 06:46 PM
I receive a lot of questions regarding what fees a Veteran is allowed and not allowed to pay in a real estate transaction in Alameda. Here is a summary of allowable and unallowable costs from one of the lenders I frequently work with.
ALLOWABLE CLOSING COSTS
A Veteran may pay any of the following reasonable closing costs and fees:
1% origination fee for purchase and cash-out loans, the origination fee is calculated using the total loan amount, including the financed funding fee For IRRRLs, the origination fee is calculated using the payoff minus any cash payments by the veteran, if applicable … (0 comments)

 

Find CA real estate agents and Alameda real estate on ActiveRain.