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Streamline FHA Refinance | Rates | Guidelines | California

Brad Yzermans — Sun, 29 Apr 2012 20:58:13 +0000

The California FHA Streamline refinance loan program is primarily designed to reduce the interest rate and payment for current FHA mortgage borrowers and simplify (streamline) the refinancing process using common sense qualifying guidelines. An FHA insured streamline refinance is easier to qualify for than a regular FHA loan. Streamline FHA Refinance – Key Features & [...]

Compare CHDAP, Platinum, ACCESS Down Payment Assistance Programs – Which is Better?

Brad Yzermans — Fri, 06 Apr 2012 09:44:24 +0000

Home buyer down payment assistance programs such as CalHFA’s CHDAP, CHF Platinum Grant, and the CHF ACCESS program are three of the most popular first time home buyer assistance programs in California. The CHDAP, Platinum, and ACCESS program all provide 3% assistance that can be applied towards meeting FHA’s 3.5% minimum down payment requirement. Sounds [...]

FHA Loans, Collections and Credit Disputes – May Delay or Cause Loan Denials

Brad Yzermans — Thu, 08 Mar 2012 19:57:22 +0000

FHA announced a shocking change in their guidelines (Mtg. Letter 2012-3) for borrowers who have unsettled or unpaid collections and gave further guidance to FHA borrowers who have open unresolved disputes reporting on their credit report. This guideline change, for many borrowers, will make qualifying for a FHA loan in California more complicated, likely to [...]

Reduced FHA Streamline Refinance Mortgage Insurance Premium Fees – Finally!

Brad Yzermans — Tue, 06 Mar 2012 20:05:41 +0000

FHA announced a big reduction in FHA Mortgage Insurance Premium fees on FHA Streamline refinances for California homeowners who acquired their FHA loan prior to June 1, 2009. This will significantly reduce the cost of an FHA streamline refinance and reduce the overall monthly payment for borrowers who qualify. The reduced FHA streamline mortgage insurance fee/premium’s [...]

FHA Increased Cost of Mortgage Insurance Premium in 2012 – Now What?

Brad Yzermans — Wed, 29 Feb 2012 20:23:52 +0000

The Federal Housing Administration (FHA) announced they are increasing the cost of their Up Front Mortgage Insurance Premium (UFMIP) on FHA single family insured mortgage loans from 1.0% to 1.75%. FHA also announced the Annual (paid monthly) monthly insurance premium will increase from 1.15% to 1.25% for loans under $625,500 and up to 1.5% for [...]

When and How to Cancel FHA Monthly Mortgage Insurance (MIP)

Brad Yzermans — Sun, 26 Feb 2012 05:18:59 +0000

If buying a home with an FHA loan, or if you have a FHA mortgage now, it’s important you understand WHEN you can get rid of or cancel the FHA monthly mortgage insurance premium (MIP) and then know HOW to cancel the FHA mortgage insurance. Fortunately, FHA mortgage insurance is not permanent…..so there is hope [...]

HARP 2 Interest Rates to Refinance a Mortgage in California

Brad Yzermans — Wed, 22 Feb 2012 07:12:58 +0000

Current HARP 2 interest rates to refinance a mortgage in California today are very low. How low? Low low…..much lower than an the existing interest rate for someone who eligible for the HARP 2 refinance program. Common question: Are today’s HARP 2 interest rates the same as if someone is buying a home with a [...]

Platinum CA Home Buyer Assistance Grant Funds Available Again

Brad Yzermans — Fri, 17 Feb 2012 00:53:14 +0000

I’m excited the NHF CHF 3% Platinum California home buyer assistance grant program (down payment assistance) has funds available again for qualifying home buyers. CHF’s mission is to increase responsible home ownership throughout California by providing down payment assistance to both second time move up buyers and first time home buyers. Do this ==> 3% [...]

USDA Rural Streamline Refinance Pilot Program – Guidelines

Brad Yzermans — Mon, 13 Feb 2012 22:06:07 +0000

The USDA Rural Housing Guaranteed home loan program announced a new USDA Streamline Rural Refinance Pilot program to make refinancing easier and faster. Why the changes? It’s part of President Obama ‘s plan to help reward responsible homeowners. The new USDA streamline refinance pilot program will give California homeowners the opportunity to reduce their interest [...]

Approved HARP 2 Refinance Lender in California

Brad Yzermans — Thu, 26 Jan 2012 09:54:55 +0000

With President Obama’s recent changes to the Home Affordable Refinance Program (HARP) t0 help more people refinance into a lower interest rate, it’s unfortunate many mortgage lenders/brokers in California choose NOT to offer the new HARP refinance DU Refi Plus or the Relief Refinance-Open Access loan program. Approved HARP 2 Mortgage Lender & Broker in [...]