Orange County FHA, VA, Conventional Mortgage Blog

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Mortgage and Lending - Fairway Independent Mortgage Corporation - NMLS #223456
RECENT BLOG POSTS
The High Balance FHA Loan program, also known as the Jumbo FHA Loan program, is currently the best way for Orange County home owners with combined loan balances over $417,000 but under $729,750 to refinance with cash out. Keep in mind that per Fannie Mae guidelines, if a borrower is combining a 1...
01/13/2010
Just like in 2009, 2010 will be a big year for the FHA loan program and Orange County First Time Buyers. There are several reasons for this, one of them being that there just aren't many competing loan programs.4 Reasons FHA will Continue to be Preferred by Orange County First Time Buyers Only 3....
01/10/2010
On December 16 FHA came out with Mortgagee Letter 09-52, which provides guidance to lenders in how to deal with borrowers who have had a Short Sale and borrowers who are refinancing a "short payoff". This has been occuring quite a bit in Orange County, along with the rest of southern California.W...
12/19/2009
When buying a condo in Orange County, it is important to understand the insurance requirements. Whether the loan will be FHA, VA USDA, Fannie Mae or Freddie Mac, the lender will need to make sure the property is insured beyond the typical "exterior" insurance policy most Home Owners Association's...
12/12/2009
Its official! Orange County, CA homebuyers will have more time to purchase a home and take advantage of the First Time Home Buyer Tax Credit. Set to expire on November 30, 2009, the tax credit was just extended through June 30, 2010, and includes some important revisions. Also, the tax credit is ...
11/11/2009
On November 4 the Senate voted to extend to First Time Buyer Tax Credit, which would be a big boost for Orange County home buyers. The current tax credit program is set to expire on November 30, 2009. Deals that are currently in escrow are "under the gun" to close by the end of the month. That is...
11/05/2009
Orange County, CA condo buyers using FHA financing just got an extra month added to the upcoming deadline of the end of the Spot Approval program. Back on June 12, 2009, FHA Mortgagee Letter 2009-19 was released, detailing new FHA Condo project approval guidelines, and setting a date for the end ...
10/24/2009
Too often, Orange County real estate transactions fall out of escrow just when they are supposed to be closing. Why? While there are no specific statistics to back an answer to this question, 2106 expenses would seem to be good answer to that question. We know that appraisal issues have also been...
10/04/2009
The FHA Spot Approval program  for unapproved condominium projects is going away on October 1, 2009. But realistically, it's already gone. Most lenders are not about to begin the Spot Approval process when only a few weeks remain. According to the new guidelines announced in Mortgagee Letter 2009...
09/05/2009
The FHA 203K Rehab loan program is a great loan for Orange County First Time Buyers. Currently there is a very tight supply of homes available in southern California, especially in the $250,000 to $500,000 price, which is a sweet spot for Orange County First Time Buyers. It has been frustrating f...
08/27/2009
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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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