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FHA Mortgage Insurance Premiums Reduced in 2017

FHA announced a reduction of .25% in their annual Mortgage Insurance Premium (MIP) for all FHA loans beginning January 27, 2017.  The FHA’s ‘annual’ MIP is actually paid on a monthly basis by the FHA borrower. More details can be found here FHA Mortgagee Letter 2017-01 and FAQ’s here. ——- SUSPENDED INDEFINITELY ——- In a shocking […]

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2017 Riverside County FHA, VA Conforming Loan Limit

The 2017 Riverside County FHA, VA and Conventional Conforming loan limits have been published and are slowly increasing. Each year the government agencies review the area median incomes and area median home prices and update their loan limits for each county in California. 2017 Conforming Riverside County Loan Limit Conforming loan limits refers to loans secured […]

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HELP Down Payment Assistance Grant

The HELP down payment assistance grant is a homebuyer assistance program for California residents with moderate income.  The HELP homebuyer assistant grant provides opportunities for sustainable and responsible homeownership for people who need assistance with paying closing costs or meeting the minimum down payment requirement. The HELP down payment assistance program provides up to 4.5% […]

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California 1% Down Payment Conventional Mortgage Program

The California 1% down payment Conventional Equity Boost mortgage program is designed to help homebuyers with good credit and moderate income overcome their lack of down payment and qualify for affordable financing. The Conventional 1% down mortgage uses the Freddie Mac HomePossible Advantage loan with additional qualifying criteria that only requires a buyer contribute 1% […]

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USDA Rural loan reduces fees

USDA Home Loan Reduces Fees for 100% Financing

USDA announced they are reducing both the upfront Guarantee fee and the Annual mortgage insurance fee (paid monthly) for purchase and refinance loans.  Lower costs for the $0 down USDA loan will help make USDA financing for rural homebuyers even more affordable. The reduced USDA insurance fee begin October 1st, 2016 and extend out through to September […]

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HomeStyle Energy Mortgage Program

HomeStyle Energy Mortgage Program

The Fannie Mae Homestyle® Energy Mortgage is a new energy improvement mortgage program designed to help borrowers pay off existing high rate energy improvement loan debt (like HERO Program loans) and make new energy improvements more affordable and easier to finance. HomeStyle Energy loan can also be used when buying or refinancing a home to purchase new […]

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