SCHFA Orange County Homebuyer assistance

SCHFA First Home Mortgage Assistance Program

The Southern California Home Financing Authority’s (SCHFA) First Home Mortgage Program provides a 4% down payment assistance grant for first time homebuyers in Orange County, California. The SCHFA homebuyer assistance program is a true Orange County, CA first time homebuyer grant that can be used for either your down payment or as a closing cost assistance prorgam. […]

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FHA Slashes Mortgage Insurance Premium: How Much Will You Save?

President Obama announced the Making Homeownership More Accessible and Sustainable directive that requires the Federal Housing Administration to reduce it’s FHA monthly paid Mortgage Insurance Premium (MIP) by .5%.  HUD Press Release Mortgagee Letter 2015-01 By reducing the FHA MIP, the Government is making FHA financing more affordable with the goal of boosting homeownership to normal levels […]

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2015 RiversideCountyRealEstatePrediction

2015 Riverside County Real Estate Predictions from 4 Local Experts

2015 Real Estate Market Predictions are in.  Four of Riverside County’s top real estate and mortgage experts predict what to expect for our local housing market for 2015. We all have questions, right?  Will mortgages rates go up?  Will home prices remain stable, go down, or appreciate?  Will it be a sellers or a buyers […]

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Fannie Mae Conventional 97% LTV Mortgage

Fannie Mae has expanded the maximum loan-to-value up to 97% LTV for their Conventional 97 mortgage program.  This means home buyers will only need a 3% down payment to benefit from Conventional financing. The standard Conventinal 97 program is perfect for first time homebuyers in California who have decent credit and simply want an affordable […]

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2015 VA Loan Limit California

2015 VA Guaranty Loan Limits Go Up & Down in California

California’s 2015 VA Maximum Loan Guaranty Limits were just announced by the Department of Veteran Affairs.  The new loan limits reduce our Veterans loan purchasing power by as much as $424,500 in 11 of California’s high cost counties.  See VA Circular 26-14-39 for details. What media outlets are not reporting is that the VA county […]

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2015 Riverside County Loan Limits

2015 Riverside County Conforming & Jumbo Loan Limits

The 2015 conforming and jumbo loan limits in Riverside County, California (includes San Bernardino/Inland Empire) for Conventional (Fannie Mae & Freddie Mac), FHA, USDA, and VA financing remain stable with little to no changes from the previous year. If you need to finance a home purchase or refinance a loan that will exceed the Riverside […]

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Home Possible Advantage Mortgage Program

What is the Home Possible Advantage Mortgage Program? The Home Possible Advantage Mortgage Program (HPA) is a new 3% down payment (97% LTV) Freddie Mac Conventional mortgage program designed to make homeownership more accessible and affordable for credit worthy borrowers throughout California who have a limited down payment savings and moderate incomes. The Home Possible Advantage home loan […]

Continue Reading 0, Mountain West Financial & Brad Yzermans are not affiliated with or representing FHA, VA, CalHFA, USDA, FNMA or any other government agency. All content copyright © 2014, Mountain West Financial, Inc., a Temecula-Murrieta-Menifee-Corona, CA Mortgage Lender/Banker. NMLS #164997