fha: Use $8000 Tax Credit For FHA Downpayment? Close But No Cigar - 07/04/09 07:35 AM
I’m sure many of you have heard over the past few weeks, or maybe even saw some of the advertisements touting that FHA will now allow First-time Homebuyers to use the stimulus packages $8000 tax credit as a down payment for a home. As exciting as that may sound to a first-time homebuyer, it is not entirely true.
As you may remember, when the Bush administration came out with the original stimulus package, the amount was actually $7500 and in truth was not as much a tax credit, but a 15 year loan. With the Obama stimulus package the tax credit … (2 comments)

fha: VA Jumbo Loans, Who Knew - 08/04/08 06:59 AM
There has been much hoopla about the changes that have been made for the past year in regards to Fannie Mae, Freddie Mac and FHA. Freddie and Fannie have created Agency Jumbos along with FHA creating it's own FHA Jumbo loan program. Loan limits have been raised to help struggling borrowers refinance out their adjustable loan programs into 30 year fixed. But even though the stimulus package signed back in March of this year was passed to help current and first time home buyers, it missed the mark in helping out one of the most important citizens of our country. The … (1 comments)

fha: VA The Runt Of The Loan Program Litter - 07/29/08 05:01 AM
Over the past year since the mortgage and housing implosion has started, we have only heard about Fannie Mae this, and Freddie Mac that. Mortgage companies have come and gone, some deservedly.  Fannie, Freddie and FHA maximum loan limits have been adjusted upwards, thanks to the stimulus package and soon to a more permanent status by the Congress, Senate and President. Many new programs have been developed such as FHASecure and Hope Now to help borrowers who have an adjustable mortgage about to reset. But what about the runt of the loan program litter that no one is paying any attention too. What about … (1 comments)

fha: It Never Ceases to Amaze Me - 04/20/08 09:32 AM
Over the past 10 years that I have been in the mortgage industry, it never ceases to amaze me the number of loan officers that refuse to work with potential first time homebuyers. What do I mean by potential? It means those first time homebuyers that have problems with their credit reports. What instigated the creation of this blog was the mere fact that 2 months ago I received a call from a potential FTH that had been turned down by several loan officers. They were literally told, "Your credit stinks", You have no business owning a home with your credit score", You'll end … (0 comments)

fha: Santa Rosa Home Loans-New FHA Loan Limits For Santa Rosa and Sonoma County-Ascent Home Loans - 03/06/08 06:41 AM
With the mortgage crisis in full swing, a temporary reprieve has finally come from the Federal Housing Administration. As of March 05,2008 the FHA maximum loan limits for Sonoma County have been raised from $362,000 to $662,500.  What this means for both current borrowers and future home-buyers is a short term chance to either refinance out of your high interest rate adjustable mortgage, or for those that have been waiting to once again be able to purchase a home with less  than a 700 credit score. As an added bonus, most of the time the FHA interest rate is lower than the standard conforming Fannie Maw … (0 comments)

fha: Santa Rosa Home Loans-The New FHA-Ascent Home Loans - 02/29/08 04:46 AM
As many of us have heard, the new stimulus package passed by both the Congress and Senate, and signed by the President will raise the loan limits for FHA loans until the end of the year December 2008. These new loan limits will be increased from the former California FHA loan limits of $362,000 to the new maximum loan limit of $729,000. However, borrowers must be made aware that as it stands right now, not all counties will receive the maximum. Median home prices are being reviewed by HUD and will be released, along with the designated increase in loan limits for that county or … (0 comments)

fha: Santa Rosa Home Loans Santa Rosa Mortgage - 02/26/08 03:37 AM
 As a National Mortgage Banker, Ascent Home Loans has provided innovative lending solutions for over 10 years. With our state of the art technology, I can give you quick loan decisions when you need to refinance, or fast pre-approvals that will give you that edge when negotiating for a new home.
At Ascent Home Loans of Santa Rosa CA, I want to help you make the right choices when it comes to selecting the correct mortgage for you and your family. How do I do this? 
I listen to my clients. With the right questions being asked, a client can provide a … (0 comments)

fha: Competition Is Tough Prepare in Advance to Sell - 02/17/08 06:06 AM
With the passing of the stimulus bill now behind us, in a few short weeks Fannie Mae, Freddie Mac and FHA will release their new guidelines on loans above the conforming loan limit of $417,000. Although this will help to stimulate refinances and home sales, there are two things that homeowners looking to sell during this time must remember. The first is the bill is only effective until the end of the year, and second you will be competing with 1000's of other homes on the market. 
Now is the time you must sit down and create a plan of action on … (0 comments)

fha: Stimulus Package to Help Refinance and Home Purchases - 02/09/08 08:22 AM
With the new stimulus package being nearly passed by the President, now is the time to start thinking about refinancing out of those higher interest option arm rates or purchasing a new home.
We all know how California has suffered through this housing slump, mainly because of our higher median home prices. The majority of Californians could not even think about refinancing their homes due to the fact that our homes are still to far above the conforming loan limit of $417,000. While we sat and watched many parts of the country such as the Midwest and Southern portions of the US refinance into lower conforming rates, … (0 comments)

fha: FHA Bills to Help California - 01/14/08 04:51 AM
With all the bad news coming out day after day about the credit crunch and housing market, it seems that one of the most important solutions to the housing problems seems to be getting pushed into the background. Very little has been mentioned for weeks about the bills in both the House and Senate and where they are currently in the  approval process. I think many people in our business are also not aware of the differences in the proposed changes in FHA. Although certainly the House Bill would help California and other states with high median prices jump start their housing markets, … (5 comments)

fha: Changes In FHA Coming Now Is The Time To Refinance - 12/21/07 05:45 AM
The Senate has recently passed Senate Bill S 2338 which changer dramatically the structure of the standard FHA programs. In recent years FHA programs have not been used to any extent here in California due to the median home prices being much higher than the $362,790 loan limit established for most of the state along with the North Bay area. With the passing of the above bill, loan limits will be raised to the Fannie Mae and Freddie Mac conforming loan limits of $417,000. Along with those lines, the bill will also reduce the required 3% downpayment from the borrower down to … (2 comments)

fha: Mendocino>>Changes in FHA Now is the time to Refinance>>Ascent Home Loans - 12/19/07 05:58 AM
The Senate has recently passed Senate Bill S 2338 which changer dramatically the structure of the standard FHA programs. In recent years FHA programs have not been used to any extent here in California due to the median home prices being much higher than the $362,790 loan limit established for most of the state along with the North Bay area. With the passing of the above bill, loan limits will be raised to the Fannie Mae and Freddie Mac conforming loan limits of $417,000. Along with those lines, the bill will also reduce the required 3% downpayment from the borrower down to … (0 comments)

fha: Coming Changes in FHA Now Is the Time To Refinance - 12/19/07 03:53 AM
The Senate has recently passed Senate Bill S 2338 which changer dramatically the structure of the standard FHA programs. In recent years FHA programs have not been used to any extent here in California due to the median home prices being much higher than the $362,790 loan limit established for most of the state along with the North Bay area. With the passing of the above bill, loan limits will be raised to the Fannie Mae and Freddie Mac conforming loan limits of $417,000. Along with those lines, the bill will also reduce the required 3% downpayment from the borrower down to … (0 comments)