If you plan to finance or re-finance your Inland Empire home with a conforming interest only mortgage, get your loan application submitted no later than this Friday, June 18. Fannie Mae is clamping down on the popular conforming interest only loan product for California Residents. An “interest only” mortgage is exactly what its name implies — [...]
Tag Archives | Riverside
HUD Allows FHA Home Loans for Purchase of California Investor ‘Flip’ Properties
HUD/FHA just announced a wiaver for home buyers in the Inland Empire region (Temecula, Murrieta, Menifee, Lake Elsinore, Corona, Riverside, Norco, Ontario etc) of California where they can now appply for FHA home loans to purchase investor flip properties that have been owned for less than 90 days by the seller. This is great news for all of us in Riverside and San Bernardino County where there are many investors buying foreclosed homes, rehabbing gthem, and selling back to first time homebuyers.
California FHA Monthly MI Premiums Approved To Triple In Cost! How will it affect you?
In a near-unanimous vote, the House of Representatives gave the FHA power to raise the monthly mortgage insurance premiums it charges to its borrowers.
Inland Empire Rates Dropping but Costs Are Rising, Says Freddie Mac
Mortgage rates may be dropping, but in the Inland Empire mortgage costs are not. According to Freddie Mac, the average required discount points on a conforming mortgage rate are higher by 0.1 percent since early-May.
What’s Ahead For California Mortgage Rates: June 7, 2010
Market momentum is currently in the rate shoppers’ favor. We entered the weekend with rates falling and they look poised to open Monday no worse.
CA FHA CHF ACCESS Govt. Home Purchase Loan Requires Only 1/2% Down Payment
While funds last, residents of California can receive Down Payment Assistance for a home purchase using the FHA CHF ACCESS loan that requires only 1/2% (one half) down payment. This will help both first time and move-up or second time home buyers more easily qualify for an FHA home home when buying in Temecula, Murrieta, Menifee, Lake Elsinore, Canyon Lake, Corona, [...]
Inland Empire / So Cal April Homes Sales Report
Leslie Berkman from the PressEnterprise just wrote this article on the April 2009 / 2010 homes sales comparison. With fewer price-slashed foreclosed houses for sale in Inland Southern California, sales declined last month while prices rose compared to a year earlier. In San Bernardino County, home sales fell more sharply than anywhere else in Southern [...]
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