Shawn Sidhu's (ssidhu) Blog

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Mortgage and Lending - C2 Financial Corporation
In today's lending environment we are still seeing many clients taking advantage of a cash out refinance to reduce monthly expenditures. The cost of money on a home loan is definitely quite low since are still at historically record low levels in terms of interest rates. As compared to many credi...
VA recently updated their guidelines. The process has been much more streamlined as of late in the past a loan package had to be submitted to a VA regional office for approval of spousal status. The VA requirement would be met as long as it was legal in the place where the Veteran and the Veteran...
Its still possible to consolidate debt through a FHA cashout refinance. As long as you don't exceed 15% equity on your home. Even with mortgage lates as long as we receive an approval through AUS (automated underwriting system) In addition, you can purchase with a minimum of 10% downpayment with ...
Approximately 10,000 Americans go into retirement on a given day. You would be able to utilize equity in your home to live comfortably in your golden years along with covering medical expenses etc. Here are some key benefits. No monthly mortgage payments are required. You are able to live in the ...
It has flexible downpayment requirements. It can be used on a purchase and a great way to finance improvements, renovations and repairs. It can go up to 50% of the as-completed appraised value. Its an excellent alternative to a home equity line of credit or second loan. Also, it can be used on a ...
Great news! FHFA (Federal Housing Financing Agency) has extended the HARP (Home Affordable Refinance Program) till December 31, 2016! The main objective of this type of home loan is to save a borrower from a potential foreclosure or short sale by substantially reducing the mortgage payment to all...
Financing is available with as little as 3% down on a Conventional loan for a 1 unit property. County or city downpayment assistance along with community 2nds are possibly available to you. Even cash on hand is allowed with appropriate documentation. One of the borrowers must be a first time home...
You can still reduce your monthly payment even if you had a short sale, foreclosure or a bankruptcy. An FHA Streamline refinance would only look at the mortgage rating on the credit report. In addition, we have lending sources with no FICO score requirements along with no minimum loan to value ra...
When are VA Termite Inspections Required? A termite inspection is waived on a VA IRRRL (streamline) refinance. It is required on a purchase and a cashout refinance. If the property is a low-rise or high-rise condo its only required if the appraiser notices a potential issue. If there is active in...
Any purchase or refinance that closed after December 31, 2013 are eligible for qualified borrowers. Borrowers with an adjusted gross income of less then 100,000 would be able to deduct 100% of their MI premium. It is subject to income limits. Please consult your CPA or tax professional for advice. 

Shawn Sidhu

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