Orange County FHA, VA, Conventional Mortgage Blog

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Mortgage and Lending - Fairway Independent Mortgage Corporation - NMLS #223456
RECENT BLOG POSTS
VA loans will be even more popular in 2011 than in 2010 in Orange County. There are several reasons, besides the most obvious reason being that no down payment is required up to a $700,000 purchase price. Up until recently, Orange County Veterans have not realized the benefits that the VA loan pr...
01/06/2011
The 2011 FHA loan limits in Orange County will remain at the high levels seen in 2010. Los Angeles and Orange Counties will continue to have a maximum loan amount of $729,750 for a One unit property. The amazing thing about FHA continuing to allow loan amounts at this level, is that FHA also only...
12/11/2010
A new Jumbo Reverse Mortgage program was recently released for California seniors. This new reverse mortgage program will benefit Orange County seniors, aged 62 and older, who own homes valued at more than $625,500. Since 2007 the FHA HECM (Home Equity Conversion Mortgage) has been just about th...
11/21/2010
Most condo projects in Orange County that are approved for FHA financing are going to need recertification after December 7, 2010. That is the date that any condo projects that haven't been newly approved in 2010 will need to either be recertified and fully approved.Condo FHA Recertification or F...
11/13/2010
Closing an FHA loan in Orange County in 30 days or less is not only possible, but is easy. But for the loan to close this quickly, all parties involved must be ready to react quickly to requests from the lender.What Needs to Happen For a 30 Day FHA Loan? Borrower - it helps tremendously if the bo...
10/30/2010
FHA typically requires a two year employment history, but job gaps are not an automatic deal killer. FHA guidelines are actually fairly flexible regarding job gaps. The job gap will need to be documented and certain conditions need to be met, but don't let a job gap keep you from buying a home.Or...
10/28/2010
Jumbo loans are making a comeback in Orange County. A mortgage is considered "Jumbo" in Orange County when the balance is greater than $729,750. The $729,750 limit is the max amount for a Conforming Fannie Mae/Freddie Mac loan. It is also the max limit for a FHA loan, which only requires a 3.5% d...
10/03/2010
An FHA loan is a great way for Orange County home buyers to purchase a home with minimal down payment. FHA only requires 3.5% down payment and that down payment can be a gift or come from a 401K. Because of the benefits FHA has over other types of financing, many times homebuyers are under the mi...
09/12/2010
Home buyers in Orange County, CA need to know how a property taxes and insurance impound account works on an FHA loan. An impound account for property taxes and home owners insurance is required on FHA and VA loans. An impound account, also known as an “escrow account”, is essentially a forced sa...
08/15/2010
Orange County FHA borrowers who are considering an FHA Streamline Refinance due to the recent drop in interest rates should move quickly to figure out whether a Streamline will benefit them or not. Because changes are coming. On August 5 FHA announced it's intention to increase the Monthly Mortga...
08/07/2010
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Tim Storm

Orange County FHA and VA Home Loan Specialist
local_phone949-640-3102
business949-272-2363
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