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loan: 103% financing in today's market?!?!? YES! - 08/28/08 02:04 AM
I am just wrapping up yet another wonderful 100% financing VA LOAN!!!!!
The way a VA Loan works is you pay a "Funding Fee" to the government up front. This Funding Fee is basically a mortgage insurance you pay for up front and then the government insures the loan against forclosure. The VA allows the borrower to roll the Funding Fee into the loan and now we are at 103% financing. Get this: you can even add another $6000 to the loan if you wish to upgrade the appliances to something more efficient! There is no monthly mortgage insurance fee; … (3 comments)
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loan: Panel of Experts- DRE, FRE - 10/19/07 11:21 AM
Yesterday I attended a California Association of Mortgage Brokers Panel of Experts meeting. On the panel were:
Sergio Barajas, Expanding Markets Manager, Freddie MacLouisa Broudy, Deputy Commisioner, Financial Services Division, Dept of CorporationsTed Grose, Director and CAMB advisorTim Le Bas, Deputy Commisioner, Dept of CorporationsGary Sibner, DRESandra Smith, HUDThey addressed what is currently being done to protect future borrowers and to help current troubled borrowers:
They talked about California's new law SB385 and how it creates more laws regarding disclosure. They want to make sure borrowers understand the loans they are getting.
Also discussed was the push to require mortgage brokers to be licensed. … (2 comments)
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loan: Stable or Declining?!? - 09/26/07 09:45 PM
It is a box on your APPRAISAL - "Property Values: Increasing, Stable or Declining." Be very aware, if your appraisal gets the box checked "Declining," you are in for a 5% reduction in what your loan to value ratio is on your loan! It will force you to put 5% more down on the purchase.
We are starting to see this happen!
BE AWARE!
… (7 comments)
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loan: Which Loan Should I Get?! - 09/20/07 12:09 AM
Which Mortgage Should I Choose? Key Questions to Ask Yourself and Lenders When Shopping for a Mortgage! Traditional Fixed Rate Mortgage? Graduated-Payment Mortgage? Adjustable Rate Mortgage? FHA Mortgage? Two-Step Mortgage? You are wondering which kind of mortgage is best. The answer: There is no one correct answer. Deciding which type of mortgage will best fulfill your needs can be difficult. There are so many types of loans and different term lengths. Your choice is extremely important and can take some time and effort to research. While often neglected by homebuyers, a little research before choosing your mortgage can save you thousands … (3 comments)
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loan: Mortgage Terms You Must Know! - 09/20/07 12:06 AM
Twenty Terms You Must Know and Understand Before You Sign Off On Your Mortgage! Buying a home is a major achievement in most everyone?s life. Pride of ownership, tax breaks and equity are just a few of the many benefits you?ll enjoy with your new home. Your home purchase may also be one of the largest you will ever make. During the emotional excitement of buying a home, you may encounter terms with which you are unfamiliar. For some, it can be bit embarrassing to ask what they consider too many questions. Others may make a note of their questions but … (0 comments)
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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