Home buyer down payment assistance loan programs such as CalHFA’s CHDAP, GSFA Platinum Grant, and the GSFA ACCESS program are three of the most popular first time home buyer assistance programs in California. The CHDAP, Platinum, and ACCESS program all provide 3% to 5% assistance that can be applied towards meeting FHA’s 3.5% minimum down payment requirement. […]
FHA announced a shocking change in their guidelines (Mtg. Letter 2012-3) for borrowers who have unsettled or unpaid collections and gave further guidance to FHA borrowers who have open unresolved disputes reporting on their credit report. This guideline change, for many borrowers, will make qualifying for a FHA loan in California more complicated, likely to […]
FHA announced a big reduction in FHA Mortgage Insurance Premium fees on FHA Streamline refinances for California homeowners who acquired their FHA loan prior to June 1, 2009. This will significantly reduce the cost of an FHA streamline refinance and reduce the overall monthly payment for borrowers who qualify. The reduced FHA streamline mortgage insurance fee/premium’s […]
The Federal Housing Administration (FHA) announced they are increasing the cost of their Up Front Mortgage Insurance Premium (UFMIP) on FHA single family insured mortgage loans from 1.0% to 1.75%. FHA also announced the Annual (paid monthly) monthly insurance premium will increase from 1.15% to 1.25% for loans under $625,500 and up to 1.5% for […]
If buying a home with an FHA loan, or if you have a FHA mortgage now, it’s important you understand WHEN you can get rid of or cancel the FHA monthly mortgage insurance premium (MIP) and then know HOW to cancel the FHA mortgage insurance. Fortunately, FHA mortgage insurance is not permanent if you secured […]
Current HARP 2 interest rates to refinance a mortgage in California today are very low. How low? Low low…..much lower than an the existing interest rate for someone who eligible for the HARP 2 refinance program. Common question: Are today’s HARP 2 interest rates the same as if someone is buying a home with a […]
I’m excited the GSFA 5% Platinum California home buyer assistance grant program (down payment assistance) has funds available again for qualifying home buyers. GSFA’s mission is to increase responsible home ownership throughout California by providing down payment assistance to both second time move up buyers and first time home buyers. Do this ==> 5% Platinum Home […]
