Conforming mortgages in California are appropriately named because they conform to the mortgage guidelines set forth by Fannie Mae and Freddie Mac. Of the many traits of a conforming mortgage, one is “loan size” and loan sizes have limits. Mortgages exceeding this loan size limit cannot be securitized as a conforming mortgage and, therefore, are […]
Starting Monday, December 13, 2010, Fannie Mae is changing its mortgage lending guidelines. Plan accordingly
Are FHA minimum FICO scores going up for Inland Empire California home buyers? Yes and no. What you need to know to prepare.
The New York Times ran an important story this week concerning pregnancy and mortgage approvals. Titled “Need a Mortgage? Don’t Get Pregnant”, the article discussed the difficulties that expecting and recently-expanded families are having with their mortgage financing.
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 — […]
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.
A new loan quality initiative from Fannie Mae is making it harder or more riskier for home buyers and refinancing homeowners in California to close on a mortgage.
