ARMs: What Happens When They Enter Adjustment
I’ve received many calls recently from referrals and new clients asking about refinancing out of their ARM and into a Fixed Rate Mortgage. Depending on the value of their house, their credit score and qualifying, sometimes I can help them, sometimes I can’t. But...5% Down Payment, Conventional Loan Available
UPDATED JANUARY 13, 2010: Please refer to my most recent post regarding minimum down payment requirements. They are based on loan amount range as well as property type....CalHFA Loan Programs and Assistance Suspended
California Housing Finance Agency (CalHFA) is and has been an excellent option for first-time homebuyer financing. Unfortunately, it has been temporarily suspended. CalHFA provides its loans through state-issued bonds, but because of our state budget crisis, there are...Why Fixed Rate Mortgage are Cheaper in Rate than Adjustable Rate Mortgages
We all know how the concept of risk and return in our financial lives normally works … the more risk you take on, the greater your potential profit (or loss) can be. The less risk, the less you can potentially make (or lose). In “normal” markets,...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...Loan Calculator
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