Escondido (San Diego, CA)
About Escondido (San Diego, CA)
Escondido is located just north of the city of San Diego. The name means "hidden" in Spanish, and that is just what it is occupying a shallow valley ringed by rocky hills. Founded in 1888, it is one of the oldest cities in San Diego County. Escondido is often thought of as a great place to raise a family! Its hometown atmosphere, historic resources and its many amenities are found in a much larger city. Also, Escondido will soon be home to a brand new state of the art hospital called Palomar Medical Center West, opening in 2012.
By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
I think this is sleezy advertising.  You too?  Lets do something about it. I received this junk mail postcard in the mail. My first question is, who sent it? The company names used are Lincoln Capital and and Lincoln Capital Group with a California DRE license number of 01414409. CA DRE lists a Lincoln Capital whose DBA has been canceled and Lincoln Capital Group in San Jose but neither match with the license number.  The license number belongs to a broker in Bakersfield with no DRE listed DBAs. When I called the phone was answered "Loan Department".  Well folks, that really cleared things up. What About the 4.5% Rate? When I asked for information about the rate and fees I was told that someone "a mortgage professional" would come to my house and explain.  Of course I would be thrilled ...
Comments 116
By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Education is the Only Sure Consumer Protection Borrowers Must Know How Properly to Shop For Loans.   Life is better for all concerned when Your buyers know how to select competent lenders FIRST, 2 VERY IMPORTANT Rules:  Mortgage Rates, Points and Lender Fees are interdependent parts of every rate quote.  All parts must be comparied.  If any part is missing the Quote is worthless. Do not fall for "I must have your credit report and financial information before I can quote you a my rate" because this an absolutely outrageous lie.  It is a sales stragety to collect buyer information because the more data a borrower provides the less likely they will continue to shop other lenders. Move to the next lender if they will not provide the information you require.   Important Mortgage Rate Shoppi...
Comments 57
By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
FHA Home Mortgage Loan in San Diego - UFMIP FHA Mortgage Insurance Premiums (MIP)FHA (Federal Housing Administration) charges Mortgage Insurance Premiums (MIP) to protect the lender in the event of default.  They are collected by the lender and then forwarded to FHA. There are two types of MIP. charged on FHA loans.  Up Front Mortgage Insurance Premium (UFMIP) and Monthly Mortgage Insurance Premium MIP.  Currently, UFMIP is a one-time charge, of 1.75% of the loan amount and is normally added to the base loan amount and financed by the borrower.  The base FHA loan is 96.50% of the purchase price so the resulting total loan to value (loan plus UFMIP) could be 98.25% of the purchase price. Monthly MIP is paid monthly by the borrower to the lender.  The MIP payment is currently computed at ...
Comments 13
By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
How about a FREE account with eSign Online, offered by GoPaperless and up to 5 free electronic envelopes per month?  Try it out today at www.GoPaperless.com.  One cool thing I like about eSign Online is that when you place the signature "sticky note", it actually shows you the name of the signer super-imposed over the highlighted area.  Also, each signer has a different color "sticky note" highlighted, so that when you are previewing the document before sending it out, you can quickly ensure that each signature space is ready to go. Simple Signing Solutions Need signatures in a hurry? eSignOnline is the latest addition to the suite of Dashboard Software Solutions.With a simple to use interface and access from anywhere, you can create documents for e-signatures using a simple wizard inte...
Comments 6
By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
DAILY MORTGAGE INTEREST RATE LOCK ADVICEDecember 30, 2010, 9:00 AM PST LOCK ADVICE CHANGES SEVERAL TIMES DAILY CLICK FOR UPDATE Mortgage Interest Rate lock Advice for locks within 3 days:  LOCK on any Down Day.Rate Points based on the Mortgage Backed Securities market are up 0.41 point. Long Term Mortgage Interest Rate Lock or Float Advice:  LOCK. ___________________________________________________________________________________________________________________  California Rates 12/29/2010, 9:00 PT30 Year Fixed to $417,000Rate 4.500% Point 1.500 APR 4.566%Rate 4.625% Point 0.876 APR 4.762%Rate 4.750% Rebate 0.250 APR 4.817%APR Based on $350,000 Mortgage at 80% LTV740 Credit Score - 30 Day Lock.Click for Quotes on FHA and VA loans With Detailed Cost Estimates. No Application Fee or Cred...
Comments 2
By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Allowable FHA Fees 2010 This Old News but there is a lot of outdated information on the internet about FHA Allowable Closing Costs. Forward Mortgage Allowable FHA Fees (30 year Fixed and ARMs)  In 2006 FHA discontinued itemized allowable and non-allowable fees.  Lenders can now collect from the borrower those customary and reasonable closing costs necessary to close the mortgage.  However, borrowers may not pay a Tax Service Fee. Reference  FHA Mortgagee Letter 2006-04 FHA also recently removed the one percent origination fee limit and now FHA buyers can be charged an origination fee customary for their marketing area. SELLERS CAN PAY CLOSING COSTS Buyers can negotiate with sellers for the seller to pay FHA closing costs up to 6% of the purchase price.  Actual FHA closing costs are betw...
Comments 13
By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rebuild this home with a FHA 203(k) One loan finances the purchase and improvements.  The FHA 203k includes the cost of rebuild, rehabilitation or home improvement in a purchase or refinance loan.  . The 203(k) is a great marketing tool for real estate agents that provides added value.  While it is a great tool to rehabilitate trashed REOs it also can be used to upgrade homes.  The primary criteria are: the improvement is a permanent part of the real estate and the improved home's value must be comparable to similar homes in the neighborhood. There are many uses for the 203(k) Rebuild Rehabilitate Remodel kitchens and bathrooms or... Add Rooms Move homes to new lots. • 203k cannot be funded until home is permanently secured to new foundation. Start with an existing bare foundation and b...
Comments 2
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