This post is courtesy of Bill Ladewig, a mortgage broker who specializes in FHA, VA loans. Buyers should educate themselves on the revised Good Faith Estimate (GFE) due to come into effect in January. The revised GFE is another failed attempt to protect consumers, The problem is, consumers cannot be protected with forms because those …
If you are a a member of the California Public Employees Retirement System, Legislators Retirement System, Judges Retirement System, or employee of a California school district, school or community College or a public employee the CalPERS and CalSTRS loans allow you to purchase a home with little money down and affordable rates and fees. CalPERS …
Here are some points to take into account when considering a Reverse Mortgage. What is a reverse mortgage: A reverse mortgage is a loan given to seniors on the equity in their home. It can be in one lump sum or several payments. In a conventional loan, amortized payments are made to the lender on …
Strange as it may seem, the less you put down on a house, the lower your interest rates will be. However, this may not always be of benefit to the borrower. For example, in late August a borrower putting $80,000 on a $400,000 purchase, with a good credit score, around 720, would have qualified for …
Smaller Down-payments May Result in Better Interest Rates – But Read More »
In 1934 the Federal Housing Administration started its quest to help Americans become homeowners by offering them mortgage insurance on loans through FHA approved lenders. They wish to keep the dream alive that millions of Americans can secure a home of their own with affordable rates. So you have a mortgage and you are interested …
