ryan morrow: Bought my house cash, need to refinance and pull cash out
- 01/03/14 03:50 AM
If you have recently purcahsed a house and paid all cash at closing you can still get your equity back out. Fannie Maes Delayed Financing program will allow you to pull some of your initial investment out of the home you just purchased in cash. In the past you needed to wait 1yr to qualify for a cash out refinance after a all cash purchase. The Delayed Financing will give you access to some of your equity right away. There is no waiting period for eligible applications under this program. Below are some of the highlights and key features of this … (0 comments)
ryan morrow: VA LOAN LIMITS FOR 2014 CA
- 01/03/14 02:22 AM
FHA loan limits are now reduced to $625,500 but what about VA? VA in Los Angeles County will be $687,500, $556,250 in Ventura County and $417,000 in Kern County for 2014. The maximum guaranty amount for loans over $144,000 is 25 percent of the 2014 VA county loan limit shown below. Veterans with full entitlement available may borrow up to this limit and VA will guarantee 25 percent of the loan amount. … (0 comments)
ryan morrow: FHA Moving away from Brokers?
- 09/18/09 09:48 AM
Starting Jan. 1, FHA will increase the net-worth requirements of mortgage companies offering FHA loans from $250,000 to $1,000,000. FHA lenders will have to submit audited financial statements to the FHA. Mortgage brokers will no longer be able to in...dependently originate FHA-insured loans; they will need to do so through an approved FHA lender Another reason to make sure you are working with a Direct Lender! … (1 comments)
ryan morrow: First time Homebuyers tax credit is nearing its end.
- 08/07/09 07:49 AM
Just a quick reminder that the $8000 tax credit for First Time Homebuyers will be ending soon. The program is officially scheduled to end December 1st 2009. This means you need to close your escrow on or before that date. Seems like enough time right?.... Lets take a closer look at the actual timeline here. Typical escrows are running 30-45 days. Knowing this timeframe we are looking at officially being in escrow by Oct 17th to be safe. Keep in mind many of these bank owned properties can take slightly longer for escrows to officially be opened and I … (0 comments)
ryan morrow: Life After Bankruptcy
- 03/10/08 03:43 PM
For immediate release March 10, 2008 Life After Bankruptcy By Ryan Morrow, Loan OfficerSkyline Financial Corp
Lancaster, CA. - Bankruptcy is an uncomfortable subject for a variety of reasons. The most obvious is the potential havoc it can wreak on your finances. Running a close second is the negative stigma which is often attached to the process. This negativity is important to mention because strong emotions can sometimes lead to unsound financial decisions with devastating results.
Bankruptcy becomes a viable option for someone who is "upside down" in terms of cash flow. In other words, when a person has more money going out each month … (0 comments)
ryan morrow: Fed Rate Cut
- 01/24/08 05:42 AM
Rates are predicted to be cut again when the Federal Reserve meets at the end of this month. Many believe Tuesday's action was taken because of a dramatic downturn in the stock market, where the Dow dropped 464 points, the worst single day drop since September 11, 2001. Since the Fed's announcement, the Dow has recovered much of those losses but volatility is likely to remain a consistent theme throughout the week. If you are waiting for long-term mortgage rates to fall further from here, don't count on it. Your best chance to lock in the lowest mortgage rates since 2005 … (0 comments)
ryan morrow: No Papers? No Problem!
- 02/24/07 04:48 AM
Does your client want to buy a home but does not have a Social Security card, No credit score, Stated Income? There are now loan programs for them. Here are some highlights on the program. 30yr. Fixed Rate Mortgage 550 FICO+ or NO FICO (alt credit will be used)95% LTV Stated Income with a 601+ FICO Purchase or Rate and Term Refi.Borrower does not need to be legal US citizen!Let me know your thoughts on this. Here in CA. we often see a great deal of Straw buyer attempts, I am wondering if this is the banks answer to these problems. Will American Citizens Pay … (1 comments)
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Ryan Morrow
Ryan Morrow Branch Manager Sierra Pacific Mortgage
If you have recently purcahsed a house and paid all cash at closing you can still get your equity back out. Fannie Maes Delayed Financing program will allow you to pull some of your initial investment out of the home you just purchased in cash.
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