2015 Real Estate Market Predictions are in. Four of Riverside County’s top real estate and mortgage experts predict what to expect for our local housing market for 2015. We all have questions, right? Will mortgages rates go up? Will home prices remain stable, go down, or appreciate? Will it be a sellers or a buyers […]
California’s 2015 VA Maximum Loan Guaranty Limits were just announced by the Department of Veteran Affairs. The new loan limits reduce our Veterans loan purchasing power by as much as $424,500 in 11 of California’s high cost counties. See VA Circular 26-14-39 for details. What media outlets are not reporting is that the VA county […]
The 2015 conforming and jumbo loan limits in Riverside County, California (includes San Bernardino/Inland Empire) for Conventional (Fannie Mae & Freddie Mac), FHA, USDA, and VA financing remain stable with little to no changes from the previous year. Loan Limits updated for 2018 view here If you need to finance a home purchase or refinance a […]
The California 2015 Conforming County Loan Limits have been set for Conventional (Fannie Mae & Freddie Mac) and FHA financing. California had just four counties where both the Conventional and FHA loan limit increased and no counties in which the loan limit decreased. Conventional conforming loan limits were announced by the Federal Housing Finance Agency (FHFA) […]
Fannie Mae reduced the waiting period for borrowers who foreclosed after discharging the mortgage debt through bankruptcy to just 4 years! Details can be read in Fannie Mae’s Selling Guide SEL-2014-10. Previously, homeowners who included a mortgage in bankruptcy were forced to comply with the foreclosure and/or deed-in-lieu of foreclosure waiting period of 7 years. […]
Good news! The California Housing Finance Agency (CalHFA) just announced they will increase the maximum DTI ratio limit from 43% to 45% when using a CalHFA, CalPLUS first lien and combining it with the CHDAP down payment assistance silent second mortgage program. See CalHFA Bulletin 2014-06 The Consumer Financial Protection Bureau (CFPB) recently put into […]
After much talk of reducing the maximum Conventional Conforming and High Cost (Jumbo) County loan limits in California for 2014, FHFA announced the $417,000 loan limits will remain unchanged for Fannie Mae/Freddie Mac Conventional financing. However, HUD REDUCED their FHA conforming loan limit for 2014 as announced in Mortgagee Letter 2013-43! FHA has ‘floors’ and […]
