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California Mortgage

California FHA Streamline Refinance Without Appraisal Guideline Update 2010

by Jonas Kruckeberg June 17, 2010

California FHA Streamline Refinance guidelines received a boost recently, a boost in the right direction for most borrowers. Turns out for the past 7 months, since November 17, 2009 the majority of FHA lenders have misinterpreted their investors’ needs for proper documentation.
Since November, Streamline FHA refinances have had traditional guidelines – prove income, provide [...]

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FHA 90 Day Flip Rule is Waived

by Jonas Kruckeberg January 19, 2010

Just when you thought there was no where to turn – Home Buyers, Home Sellers, Home Investors – HUD just gave a nice boost for California FHA insured mortgages.   The 90 Day Flip Rule that hindered FHA buyers and certain home sellers from going into contract together has been temporarily waived for 1 year.
Starting [...]

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California First Time Home Buyer Under 620 Credit Obtains FHA Loan

by Jonas Kruckeberg November 9, 2009

Is it really possible for a California first time home buyer with under 620 credit score to obtain a FHA loan? Most people would disagree. The Jonas Kruckeberg Team fights day in and day out for clients to obtain their dream of homeownership, so to all the naysayers let this be a demonstration that it [...]

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California FHA Loans and the Kitchen Sink

by Jonas Kruckeberg November 5, 2009

California FHA loans require documentation – a lot of documentation.  That’s a good thing, in my opinion.   This compilation of paperwork is typically sent in by fax by my clients.  The problem is – trying to fit a Stainless Steel Kitchen Sink through the fax.  At least that’s what it seems like you have [...]

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Home Buyer Tax Credit Extended

by Jonas Kruckeberg November 3, 2009

California’s real estate market just received another boost (almost) from last night’s vote in the Senate.  Although it’s not the final vote, it effectively seals the deal on the plan to extend the $8000 first time home buyer credit through April 30th 2010 as well as expanding the credit to move-up-buyers  on a smaller scale [...]

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MDIA Claims Another Victim

by Jonas Kruckeberg November 2, 2009

MDIA – Mortgage Disclosure Improvement Act – is supposed to improve the transparency of mortgage loan disclosures to the consumer – You! Well, to say the least, it hasn’t. I will give you the latest story of yet another victim of this new policy and follow that with the true time lines that [...]

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Down Payment and Source of Funds for California FHA Home Buyers

by Jonas Kruckeberg October 30, 2009

Today, most California First-Time Home Buyers choose FHA Mortgages due to the low down payment (3.5%) that is required.
This can be a little confusing for borrowers looking at foreclosure properties that have a significant amount of perceived equity, but the FHA clearly defines that the minimum down payment on a purchase transaction is 3.5% of [...]

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Approval and Funding Process – CA Mortgage

by Jonas Kruckeberg October 26, 2009

While the approval and funding process of a new California purchase mortgage has several moving parts, this article should help you put the basic time line in perspective.
1.  Loan Application –
This is where the loan officer spends a little time over the phone or at the office with a potential borrower discussing their lending scenario, [...]

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California Mortgage – How Much Can I Borrow?

by Jonas Kruckeberg October 24, 2009

How Much Can You Borrow?
How do banks decide how much money to lend you in California? They base their decision on their estimate of your ability to repay the loan.
To make this estimate, they look at your income, your available cash, your debt, your credit history and your Loan To Value.
Riverside County’s updated lending limits [...]

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Getting Started with a California First Time Home Buyer Mortgage

by Jonas Kruckeberg October 20, 2009

As an FHA licensed California mortgage company, we are privileged to offer our First-Time Home Buyer community with FHA programs that  provide the American Dream of home ownership.
With flexible credit history guidelines, low down payment requirements, competitive mortgage interest rates, and common sense underwriting practices, FHA mortgage loans are designed to meet the needs of [...]

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