Is 2015 A Good Time To Get a Mortgage?

Principal Reduction Alternative

When Is The Right Time To Get a Mortgage? Every year people who seek to move into their own house meet this dilemma, at the beginning of 2015, many of them struggle with the same question.. is it the right Continue reading Is 2015 A Good Time To Get a Mortgage?

Why FHA Loans and VA Mortgage Rates Are Typically 0.5% Higher

FHA & VA Loans and Mortgage

In referencing to the rates on FHA and VA loans, they are typically 1/4-1/2% higher than FNMA/FHLMC rates. This is because the GNMA funds are based on the faith and credit of theUnited States… they are NOT based on the yields from the 10 year note which drive conforming/conventional rates. Continue reading Why FHA Loans and VA Mortgage Rates Are Typically 0.5% Higher

Income Documentation Changes For FHA Loans & VA Lending

FHA Loans and VA Lending Income Verification

The guidelines for FHA mortgages and VA loans are pretty much the same and have remained so for as long as I can remember. I have been in the business since 1992 and changes to these kinds of loans are slow to be made and slow to be implemented. The major difference to VA and FHA financing is in the area of paper work. Continue reading Income Documentation Changes For FHA Loans & VA Lending

Where Can I Find Sub-prime Loans Today??

The Sub-prime Loans

Sub-prime loans are a thing of the past. The days of easy money are gone and no one wants to take any risks on bad credit, high LTV’s, low FICO scores, high DTI’s and bad properties, especially where the foreclosure ratios are very high for a given area. Continue reading Where Can I Find Sub-prime Loans Today??