The Chenoa Fund downpayment assistance loan program offers 100% affordable financing for buyers who can meet basic minimum credit requirements and lack sufficient funds for a down payment. The Chenoa Fund homebuyer assistance program offers two unique down payment assistance programs, the Chenoa Fund FHA Advantage and Chenoa Fund Conventional Advantage, to meet the needs […]
CalHFA announced the new School Teacher and Employee Assistance Program (STEAP) to aid in the purchase of a home in California. Eligible homebuyers who qualify for down payment assistance must be first time homebuyers employed at any K-12 California public or charter school, school district offices, and county or continuation schools. STEAP is available to […]
2018 Conforming Loan Limit in Riverside County Conforming Conventional loan limits refers to loans secured and underwritten to the FHFA or Fannie Mae/Freddie Mac guidelines and standards. The term ‘Conforming’ is often used to refer to Conventional financing. This means if your loan amount exceeds $453,100, it will not ‘conform’ to Fannie/Freddie guidelines and require 1 of 2 […]
The Community Home Advantage Program (CHAP) is a community based homebuyer assistance program designed to expand the availability of credit and promote fair and affordable lending to homeowners and homebuyers purchasing a home in targeted communities, cities and zip codes within California. The CHAP Community Home Advantage Program provides a .50% to 1.00% discount to the […]
For homebuyers or homeowners with student loan debt in an Income Based Repayment (IBR) plan planning to purchase or refinance a home, it’s important to know that the type of mortgage you apply and the type of repayment plan your student loans are set up on can impact qualifying for a mortgage. For example, the […]
The Dream Makers first time homebuyer grant provides up to $5,000 in closing cost and/or down payment assistance for qualified Veterans and military service members with low to moderate income. The Dream Makers grant assists our nations heroes who are unable to afford the required closing costs or possible down payment needed to achieve homeownership. […]
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 […]
