*THIS* is Why a Good Credit Score is so Important:
From one day to the next, hits and improvements on credit score brackets got much stricter. Hits for lower credit scores (anything below 740) are bracketed by increments of 20 points starting with a 620 FICO. Based on today’s interest rates (which are really good...Temporary Conforming Loan Limits are Expiring Sooner Than Expected
The temporary conforming loan limit of $729,750 in high-cost counties was set to expire at the end of the year, but banks are pulling back on that and requiring all loans at this loan amount range to close by December 1st – NO exceptions. With rates having dropped...Conforming Loan Limits Decreasing: “Must Close By” Date Moved Up
I’ve mentioned in a previous post (August 7th) that conforming loan limits are set to decrease in January 2009. In high-cost counties, this means a decrease from $729,750 down to $625,500. We knew that this loan limit was temporary and set to expire on December...Certain CalHFA First Time Homebuyer Programs Suspended
This is unfortunate news that came quickly and unexpectedly. CalHFA is a state-specific governmental agency that helps first time homebuyers get into their first home via down payment assistance programs and other solutions. CalHFA has been instrumental in helping...It’s Official: Government Take-Over of Fannie Mae and Freddie Mac
It was announced on Sunday, September 7th that the federal government is officially taking control of mortgage giants Fannie Mae and Freddie Mac in a manner of “conservatorship” and that they will be regulated by the newly-created Federal Housing Finance Agency...Loan Calculator
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