Increased loan limits for 2018
Great news – The Federal Housing Finance Agency is increasing conforming loan limits again in 2018! New conforming loan limit will be $453,100, and high-balance loan limit will increase to $679,650 for high-cost counties. Lenders are also accepting locks and...Did You Know? NEW Student Loan Payoff Refi Program!
Fannie Mae recently announced a student loan refinance program, which allows homeowners to use their homes’ equity to pay off student loan debt. This is a special program, and even though you’re tapping into your home equity, you are not getting charged a “cash-out...15 Year Fixed Rate Mortgage
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The lending landscape has lightened up, and with it new programs and opportunities have become available. Here are some niches that I can assist with, along with a brief explanation of the program. Future Income Program – allows a borrower to close a loan 120 days...Options to Avoid Paying Private Mortgage Insurance (PMI)
Did you know you have options in paying or avoiding Private Mortgage Insurance (PMI)? PMI is charged by the lender when you do not have 20% down payment. It is insurance to protect the lender (not you) against you defaulting on the mortgage, since you are considered...Property Tax Relief for Eligible Homeowners: Propositions 60 and 90
If you’re a current homeowner over the age of 55 and looking to buy a new primary home, are you aware of Propositions 60 and 90? In the 1980s, California voters approved both Propositions 60 and 90. Prop 60 allows for homeowners age 55 and older to transfer the...Breaking News! FHA is Decreasing Their Annual Mortgage Insurance Rates by .25%
UPDATE: THE REDUCTION IN FHA’S MORTGAGE RATES HAS BEEN SUSPENDED INDEFINITELY. In this rising interest rate environment, FHA will be passing along a little reprieve to home buyers and home owners that are securing financing through FHA. The annual insurance...Fannie Mae Allowing “Property Inspection Waivers” More Frequently
Effective 12/10/16, Fannie Mae’s underwriting engine is issuing out Property Inspection Waivers (PIWs) on refinances, allowing homeowners to refinance without requiring an appraisal report. This will help expedite the closing timeframe, and reduce the cost of the...Conforming Loan Limits Are Increasing in 2017
Great news, conforming loan limits are increasing in 2017! We haven’t had an increase since 2006. (!) The new conforming loan limit will be $424,100, up from $417,000. With this increase, the high-balance loan limit will increase per county as well. For Bay Area...Loan Calculator
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