Borrower Tips
Where does the money go????
Where does the money go? If you’re like most U.S. consumers, more than half of it goes to housing and transportation costs. According to the government’s most recent Consumer Expenditure Survey, spending patterns are little changed from years prior. More money is spent on entertainment and less money is spent on dining out. [...]
Large Multi-million dollar loans done in all 50 states!
High net worth clients can now get excellent terms on multi million dollar loans in all fifty states through our private banking division. Minimum loan amount of $2,000,000 going up to $10,000,000. There is nothing “traditional” about the way these loans are underwritten, but there are strict net worth and liquidity requirements. Owner occupied, second [...]
Interest Rates are back down so its time to buy!
About 6 weeks ago the Danville mortgage market saw rates increase due to some really large auctions of Treasury Bills. The rate slide lasted about three weeks, and rates went up more than 3/4 percent, which is really a big increase in the mortgage world. I am happy to report however that the LAST THREE [...]
Why did Danville Real Estate rates bump up last week?
Mortgage markets took a beating last week, sending conforming mortgage rates soaring Wednesday afternoon. Despite a modest recovery Thursday and Friday, though, mortgage rates still moved higher on the week overall. It was the fourth time in 5 weeks that mortgage rates worsened. By far, the biggest news of last week was Wednesday’s mortgage market [...]
Danville real estate home loan rates drop to all time lows, but why???
You have heard the rumors of 4% loans, and here is the fact. My investors are funding loans up to $729,750 with rates as low as 4.25%. That is not an adjustable rate. That is fixed for 30 years. And no, there is no prepayment penalty. Truth is, you are NOT going to refinance that loan anyway! [...]
Mortgage Lending Starts to Show Signs of a Thaw
Getting approved for a home loan isn’t getting easier, but it doesn’t appear to be getting much more difficult, either. In its quarterly survey to member banks, the Federal Reserve asked senior bank loan officers whether “prime” residential mortgage guidelines had tightened in the last 3 months. Nearly 50 percent of banks said guidelines [...]
20% Down Stated Income Lending in California!!!!
FINALLY!!! Yes, it’s true! Stated income lending is currently available through me, in the state of California, once again. I knew it was just a matter of time before we would see investors return to the market, and THAT TIME IS NOW! This is NOT the old “Fog a Mirror, get a loan”, stated income. This [...]
Details of new plan this week!
President Obama unveiled his plan to help stabilize the housing market and keep millions of borrowers in their homes. The Homeowner Affordability and Stability Plan includes two initiatives to help struggling homeowners. One is a refinancing program for homeowners with less than 20% equity in their homes, or who owe more than their home is [...]
Tax Credit for Homebuyer definition
Tax Credit for Homebuyers First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit. Remember a tax credit is very different than a tax deduction – a tax credit is [...]
No limit on investment properties, almost…
Fannie Mae Removes Its 4-Financed Property Limit Friday, Fannie Mae rolled-back one of its least popular mortgage guidelines updates of the last 12 months. Effective March 1, 2009, real estate investors can once again own and finance up to 10 individual properties. The restriction reversal does come with new minimum requirements, however. Homeowners buying a [...]
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