Mortgage markets worsened last week in a holiday-shortened trading week. For the second straight week, conforming and FHA mortgage rates increased.
Archive | 2011
California $10,000 Home Buyer Tax Credit Extended? Nope…This is Better
There’s been rumors circulating of the California $10,000 home buyer tax credit being extended for 2011, so I want clarify a few things for buyers before they miss out on another opportunity for free money. The state or federal tax credit is NOT being extended, however, a new incentive for California home buyers may be […]
Lender Cover Up? Down Payment Assistance for FHA Approved Home Buyers in California
Unfortunately, very few home buyers in California using FHA loans to purchase realize they may qualify for down payment or closing cost assistance. Why is this? Why aren’t lenders telling home buyers about programs that will save their buyers money? OK, I admit it. This may be controversial among some of my peers, and I’ll […]
FHA extends 90 day anti-flip rule to help buyers purchase from investors
The Department of Housing & Urban Development (HUD) announced Friday January 28th it will extend the suspension of their rule that prevents FHA from insuring a home loan that’s being used to purchase a home that’s been owned than 90 days by the seller. The extension is good until January 1, 2012. This rule was […]
Should You Consolidate Debt or Renegotiate Credit Card Interest Rates Before Buying a Home?
Renegotiating the interest rates or consolidating your credit card debt prior to qualifying for a home seems to make sense, right? After all, credit card debt left unchecked can pile up quickly, especially if you are making the minimum payments. However, one of these actions can cause your home loan approval to get denied. So […]
Government is Increasing Loan Costs Again Starting April 1, 2011 (no fooling)
Starting April 1, 2011, the government is increasing loan-level pricing adjustments (higher fees)…..and that’s no joke! Most conforming mortgage applicants will face higher loan costs.
What’s Ahead For California Mortgage Rates: January 3, 2011
Mortgage markets improved for California last week during a rainy and holiday thinned series of sessions on Wall Street. This week, it’s back to normal…..sort of….