by Irene Moustakas | Apr 25, 2016 | Industry News, Loan Programs and Products
Did you know that if you don’t have a steady verifiable income, but have a significant amount in assets, there are some lenders that will use that assets to determine your qualifying ratio and may lend to you according to it? It’s called the “Asset Utilization...
by Irene Moustakas | Nov 9, 2015 | Featured, Loan Programs and Products
A Home Equity Line of Credit (also known as a “HELOC” or “equityline”) can be an excellent financial tool for the right person, and a very imprudent one for the wrong person. As with everything, there are advantages and disadvantages to consider, which I will briefly...
by Irene Moustakas | Nov 4, 2015 | Featured, Loan Programs and Products
More Jumbo loan options with less than 20% down payment are becoming available. When our housing bubble burst and we got hit with the credit crunch in 2008, it was hard to find a competitive Jumbo loan, and nearly impossible to find one with less than 20% down. This...
by Irene Moustakas | Jun 23, 2014 | Featured, Loan Programs and Products
Please check out my more recent blog on updated rules and requirements for the Family Opportunity Mortgage here. Not many people know about this Fannie Mae mortgage program, so please keep it in mind as an opportunity. Fannie Mae’s Family Opportunity Mortgage helps...
by Irene Moustakas | Apr 17, 2014 | Featured, Loan Programs and Products
The 30 Year Fixed loan program is the most common program chosen by homeowners. It provides fixed, secure payments at the same interest rate and mortgage payment for the life of the loan (30 years). But there are other options for fixed rate term mortgages that not...
by Irene Moustakas | Feb 23, 2014 | Featured, Industry News, Loan Programs and Products
Back in the day, we only had a conforming loan limit (currently $417k), and any loan amount above that was considered Jumbo. Now we have three levels of loan limits and down payment requirements for Conventional loans. (FHA will allow 3.5% down payment up to a...