Advantages and Disadvantages to Interest-Only Loans

by Irene Moustakas | Nov 21, 2013 | Featured, Loan Programs and Products

The new “Qualified Mortgage” Rule will be taking place in January 2014, which will result in the discontinuation of Interest-Only loans.  There may be a small handful of portfolio lenders that will continue to offer interest-only loans, but for the most part, they...

Jumbo Loan Programs: A 10/1 Adjustable Rate Mortgage (ARM) versus a 30 Year Fixed

by Irene Moustakas | Oct 17, 2013 | Featured, Loan Programs and Products

A Jumbo loan (any loan amount exceeding $625,500) is common in our high-cost area.  Jumbo loans are considered more risky to lenders, so their interest rates are higher and guideline requirements stricter.  You have choices in Jumbo loan programs – your decision can...

Purchase Loan Program Available for our Community Heroes: Police, Firefighters, Teachers & EMTs

by Irene Moustakas | Dec 5, 2011 | Featured, Industry News, Loan Programs and Products

There is a special program currently available to police, firefighters, teachers and emergency medical technicians.  The program, called Good Neighbor Next Door (GNND), offers a 50% discount on the list price of a home for HUD-owned properties.  In return, the...

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...