Kathy Hoare's (khoare) Blog

Mortgage and Lending - First Priority Financial - NMLS# 252190
FHA Joins HVCC Ranks Ouch!  As recently as Aug 31, FHA was quoted as "not considering adopting the Home Valuation Code of Conduct appraisal system now in place at Fannie Mae and Freddie Mac" ("Inside Mortgage Finance" Aug 31, 2009).  So Friday's announcement came as a shocker.  The FHA Commissio...
Termite Reports Here in Sonoma County Conventional and FHA lending does not automatically require a pest report.  One major lender released policy change requiring pest report clearance it the report is included in the purchase contract.  This has been the case off and on, but this may indicate ...
  Highlights from Sonoma County EDB 2nd Quarter Report The Sonoma County Economic Development Board releases quarterly local economic data for Real Estate.  Statistical reports can be found at http://www.sonoma-county.org/edb/reports.htm.  Here some highlights from the most recent report for Sono...
 Condo PUD  Loan Guidelines are established by Fannie Mae and FHA. As opposed to a single-family dwelling in a subdivision, condos or PUD units are highlighted by "Ownership of a unit, interest in common elements, mandatory homeowners' association membership, and documents defining/restricting u...
The FHA anti-flipping rules are growing in popularity by lending investors and being adopted for both VA lenders and many conventional mortgages as more lenders are looking to protect themselves from financing property "flips".  Here in Sonoma County where opportunistic investors are putting rec...
  Tax Impounds Increase Closing Costs per Calendar             A buyer needs to know how the calendar will increase closing costs because of tax impounds.  When I quote closing costs for a client, I'm not only including lending costs, but also escrow/title fees and prepaid insurance, taxes and in...
Sonoma County buyers can use HELOC (Home Equity Line of Credit) to finance a contingent purchase as long as they are well qualified to carry both property mortgages intially.  This will allow the buyer to purchase a home with beneficial financing, while waiting for their current home to sell. Yes...

Kathy Hoare

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