The Mortgage Update

Down payment assistance from seller and DAP is out   FHA will no longer accept Ameria Dream or similar programs as a down payment assistance where in  the sell er gives a gift to some one in exchange for a gift of the down payment.   Gifts from family members is ok   If   you  have any specific q...

We have stated income loans again   85% max LTV due to declining market hits Cash out  OK this program is for wage earners and self employed as well   sample quote $590,000 sales price 25% down, 721 fico, self employed, 30 yr fixed @ 6.75% with a 1.25% origination fee.   this is a great product f...

FHA  6.375% with a 1 point cost   Conforming  6.375  + 1/2 point cost conforming jumbo 6.50% + 1/4 point cost   New portfolio jumbo loans will be out on Monday.   90% combos with HELOC, no longer available...sorry  all rates quoted are for information purposes only pleae email for a current quote...

FHA is a great loan for California buyers 687,500 max loan in CA (for limits in your county and state please email me the city county and state and i will get that info for you) Or go to HUD home page. 97.75% loan lower fico requierments full doc only now is the time to look to FHA to help you cl...

Here is an email i recieved on a file that was ready to fund with Indy Mac Bank, very contrary to what has been publicised to share holders.   have received funding package for file; however, I am not sure if you have read the announcement that IndyMac Bank has closed our wholesale and retail div...

A email went out to shareholders of the once famed and super successfully indy mac bank stating that as of TODAY there will be no new loans accepted. I personally have closed many loans with IMB (Indy Mac Bank) and am very sad to see this happen to such a great group of people. I have to say that...

Many lenders reposed a mid afternoon repost of rates for the worse.   The average re post was at .25% worse to rates.   If you think you have a client that needs to get locked, do it yesterday as rates are set to take another hike going into the weekend. My personal opinion. for a custom quote pl...

FHA  6.375% with a 1 point cost   Conforming  6.25  + 1/2 point cost conforming jumbo 6.375% + 1/4 point cost   90% combos with HELOC, 80/10 with 10% down or equit for a refi.   1st conforming 417k or less  6.375% 1st jumbo conforming 417k or more 6.5% 2nd heloc 6% adj 2nd   all rates quoted are ...

FHA  6.375% with a 1 point cost   Conforming  6.375  + 1/2 point cost conforming jumbo 6.50% + 1/4 point cost   90% combos with HELOC, 80/10 with 10% down or equit for a refi.   1st conforming 417k or less  6.50% 1st jumbo conforming 417k or more 6.75% 2nd heloc 6% adj 2nd   all rates quoted are ...

Rates nudged down slightly yesterday but that was only after a bump up from Tuesday based on the Feds anticipated rate hike to curb inflation, but as we all know that the Fed did nothing on Wednesday. They did state that they are watching the inflation rates very closely so i would say we will se...