about mortgages: Long Beach, Ca. How will higher loan limits actually change California's Real Estate Market?
- 02/03/08 03:53 AM
Long Beach, Ca. The big debate in Congress right now is not whether to raise loan limits for fannie mae/freddie mac but how much to raise them. You see if the new bill passes, the new loan limit will be for 125% of the median sales price in a community. For example, In Orange County, California, the average sales price is $565,000.00; therefore, the new conforming loan limit would be $706,250.00 1). Home-buyers will be able to get better interest rates for purchases and refinances. This is because the current jumbo interest rate (for loans above $417,000.00) is between .5 and 1% above … (0 comments)
about mortgages: Long Beach, Ca. The real reason Countrywide failed in the Mortgage Markets
- 01/13/08 05:34 AM
Long Beach, Ca. The market is like the wild. Only the fittest survive to fight and live another day. Not to take away from the efforts or history of any great company; the fact is, everyday we are vulnerable and responsible for every decision we make whether it is corporate or personal. The fact that America's biggest Mortgage Lender, Countrywide, just got bought out by Bank of America is further evidence that if a company and its directors do not make the right decisions, they and their apparatus will be gobbled up by the market. The real reason for the fall of the Mortgage … (0 comments)
about mortgages: Current Market trends provide even greater opportunities for Renters pursuing Home Ownership
- 12/10/07 03:22 AM
Long Beach, California - Buying a home vs. renting is a big decision that takes careful consideration, as most mortgage consultants will agree. But the rewards of home ownership are great. For many years, purchasing real estate has been considered an extremely profitable investment. It is an achievement that offers a sense of pride, financial stability and potential tax advantages. Yes, there are certain responsibilities associated with owning a home. Landlords will often argue the benefits of renting, and for obvious reason. If you are renting, you're helping them make their mortgage payment. The numbers are staggering if you look at it … (0 comments)
about mortgages: Find a Mortgage Planner who understands your family's long term plans
- 12/09/07 05:10 AM
Long Beach, Ca. - Taking the step into home ownership is one of the most important financial decisions a person will make in their lifetime. There are many factors to consider when embarking on this venture. Literally hundreds of loan programs are available, and it is important to find the one that best fits your personal long-term goals. First and foremost, you must have a mortgage consultant in your corner that is willing to take the time to know what your long-term goals are. Communication is the key factor here. Curious prospective home buyers sometimes turn to Internet-based services just to see … (0 comments)
about mortgages: Why would a borrower pay discount points to a Mortgage Broker?
- 11/25/07 05:45 AM
In this day of high inflation and the dropping value of the dollar, one wonders why should a borrower ever consider paying points to buy down the interest rate on their loan. Let's consider that a "discount point" is supposed to discount the interest rate that a borrower gets on their long term mortgage. This equals paying less on a monthly basis for your mortgage. Let's make a generic example, let's say that a home buyer purchases a Southern California home for the price of $500,000.00 and puts down twenty percent or $100,000.00 so the loan amount is $400,000.00. This conforming … (2 comments)
about mortgages: Long Beach, CA: Seller carry back mortgages are preferable for some home buyersL
- 11/22/07 03:06 AM
Sometimes the only way to buy a home and get a home loan in our current real estate market is by getting the Seller to carry back a loan and essentially become the bank. Now, we have to ask the question, why would the seller want to carry back financing? The following will summarize why it may behoove the Seller to do just this: A). The Seller can now actually sell the property. B). The Seller can make money off the interest that he charges: similar to a bank. C). The Seller can save or temporarily stave off paying income taxes on the sale by … (0 comments)
Long Beach, Ca. The big debate in Congress right now is not whether to raise loan limits for fannie mae/freddie mac but how much to raise them. You see if the new bill passes, the new loan limit will be for 125% of the median sales price in a community. For example, In Orange County, California, the average sales price is $565,000.00; therefore, the new conforming loan limit would be $706,250.00;)
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