Saturday, May 19, 2012
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California FHA Streamline Refinance Without Appraisal Guideline Update 2010

California FHA Streamline Refinance guidelines received a boost recently, a boost in the right direction… [more]

California FHA Streamline Refinance Without Appraisal Guideline Update 2010 California FHA Streamline Refinance Without Appraisal Guideline Update 2010

Allocation Update for California First Time Home Buyer Credit

Allocation for the First Time Home Buyer Tax Credit is being eaten up.

Allocation Update for California First Time Home Buyer Credit Allocation Update for California First Time Home Buyer Credit

Down Payment and Source of Funds for California FHA Home Buyers

Today, most California First-Time Home Buyers choose FHA Mortgages due to the low down payment (3.5%)… [more]

Down Payment and Source of Funds for California FHA Home Buyers Down Payment and Source of Funds for California FHA Home Buyers

Horse Property For Sale in Temecula

Horse Lovers Private Paradise! Amazing single story wine country home w/ top of the line horse facilities,… [more]

Horse Property For Sale in Temecula Horse Property For Sale in Temecula

How To Reserve Your California Tax Credit on a New Home

Reserving your tax credit on a new home in California has some specific criteria that you must follow… [more]

How To Reserve Your California Tax Credit on a New Home How To Reserve Your California Tax Credit on a New Home

Why Do I Need To Pay A VA Funding Fee?

by Jonas Kruckeberg March 28, 2010

The VA Funding Fee is an essential component of the VA home loan program, and is a requirement of any Veteran taking advantage of this zero down payment government loan program.
This fee ranges from 1.25% to 3.3% of the loan amount, depending upon the circumstances.
On a $150,000 loan that’s an additional $1,875 to almost $5,000 [...]

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Why Do I Need Mortgage Insurance?

by Jonas Kruckeberg March 28, 2010

Mortgage Insurance, sometimes referred to as Private Mortgage Insurance, is required by lenders on conventional home loans if the borrower is financing more than 80% Loan-To-Value.
According to Wikipedia:
Private Mortgage Insurance (PMI) is insurance payable to a lender or trustee for a pool of securities that may be required when taking out a [...]

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Understanding An Amortization Schedule

by Jonas Kruckeberg March 28, 2010

By committing to a mortgage loan, the borrower is entering into a financial agreement with a lender to pay back the mortgage money, with interest, over a set period of time.
The borrower’s monthly mortgage payment may change over time depending on the type of loan program, however, we’re going to address the typical 30 year [...]

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How Do I Calculate My Mortgage Payment Without Using A Mortgage Calculator?

by Jonas Kruckeberg March 28, 2010

Calculating an exact mortgage payment without a calculator on a loan is no small task, but there are some simple rules-of-thumb you can use to get a close estimate.
With the exception of the MIT Blackjack Team, performing this type of complex math in your head often leads to frustrating rants.
When coming up with a rough [...]

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Do I Have To Continue Making My Mortgage Payment If My Lender Goes Bankrupt?

by Jonas Kruckeberg March 28, 2010

When mortgage banks go out of business and are essentially taken over by the FDIC, homeowners are left wondering if they still need to make a monthly payment.
Great thought, and a very common questions for many borrowers in 2009 and 2010.
The short answer is YES, you still have to continue making mortgage payments if your [...]

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Shopping For A Hazard Insurance Policy

by Jonas Kruckeberg March 28, 2010

When shopping for a hazard insurance policy, something called “bundling” can actually save you quite a bit of money that most people aren’t aware of.
Many of the big insurance companies price their insurance rates to attract a particular segment of the market. They usually price their hazard insurance policies to attract homeowners who need to [...]

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Ten Things You Can Do To Protect Your Identity

by Jonas Kruckeberg March 28, 2010

Facts About Identity Theft:
It’s estimated that there were 10 million victims of identity theft in 2008, and 1 in every 10 U.S. consumers have reported having their identity stolen.
The U.S. Department of Justice reported in 2005 that 1.6 million households experienced fraud not related to credit cards (i.e. their bank accounts or debit cards were [...]

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Is There A Rule-of-Thumb Regarding The Number Of Credit Lines To Have Open?

by Jonas Kruckeberg March 28, 2010

While the actual credit score has a big impact on a loan approval, it’s not the only component of the credit scenario that underwriters consider for a mortgage approval.
Since loan programs, individual lenders and mortgage insurance companies all have their own credit report restrictions, it’s difficult to define a standard Rule-of-Thumb to follow.
However, the number [...]

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Alternate Sources For Establishing Credit

by Jonas Kruckeberg March 28, 2010

While the basic Rule-of-Thumb for acceptable credit history is a minimum of four trade lines documented on a credit report, there are alternative methods of building a credit picture that an underwriter can use to make a decision for a loan approval.
For potential home buyers with little or no credit history, keeping records for [...]

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What's The Difference Between A Single Family, Second Home and Investment Property?

by Jonas Kruckeberg March 28, 2010

When applying for a mortgage, a borrower’s “Occupancy Type” is a major factor in the amount of down payment required, loan program available and mortgage interest rate.
Whether you are purchasing, doing a rate/term refinance or taking equity out of your property through a cash out refinance, occupancy type is always considered by the [...]

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