Homepath 3.5% Closing Cost Assistance Expiring Soon

by Irene Moustakas | Oct 3, 2011 | 1st Time Homebuyers, Featured, Loan Programs and Products

The 3.5% credit towards closing costs (and buying down an interest rate, if applicable) is expiring soon!  For any Homepath real estate purchase, you can still qualify for the 3.5% credit.  So if your purchase price is $400,000, you will receive a credit from Fannie...

Fannie Mae Offers 3.5% Closing Cost Assistance

by Irene Moustakas | Apr 12, 2011 | 1st Time Homebuyers, Featured, Loan Programs and Products

This 3.5% assistance applies to Homepath properties, but it is available only during a small window of time.  Homepath is an excellent financing program available for Fannie Mae-owned homes.  Check out the features of Homepath in my previous blog, but as a quick...

Jumbo Loan Rates, 3/7/11

by Irene Moustakas | Mar 7, 2011 | Featured, Loan Programs and Products, Rates

A Jumbo loan is any loan amount that exceeds the high-balance loan limit set per county. High-balance loan limits for your city in California can be found here: California City High-Balance Loan Limits with a current absolute maximum of $729,750.00. If you exceed this...

Excellent Financing Program for Fannie-Mae Owned Homes

by Irene Moustakas | Aug 5, 2010 | 1st Time Homebuyers, Industry News, Loan Programs and Products

For those of you in the market to purchase a home, you should definitely check out www.homepath.com This program is for the purchase of Fannie Mae-owned homes.  Some of the program’s main highlights are: Low down payment (as little as 5% down on conforming loans or...

Changes to Guidelines on Adjustable Rate Mortgages (ARMs)

by Irene Moustakas | Jun 22, 2010 | Industry News, Loan Programs and Products

Adjustable Rate Mortgages (ARMs) have been extremely competitive in rate; often, a 5/1 ARM is a good 1.0%-1.25% below the 30 Year Fixed Rate mortgage. There are advantages and disadvantages to every loan, and as long as you fully understand the loan program you’re...

Things to Consider If You’re Thinking of Refinancing

by Irene Moustakas | Mar 24, 2010 | Loan Programs and Products, Rates, Tips

I just got a phone call yesterday from a 45 year old single mom of three.  She heard that rates have gone down and she was excited about potentially refinancing.  She has had her current loan (a 15 Year Fixed) since 2003.  In 7 more years, her mortgage will be...