Tag Archive for: fha

“PMI” or “Private Mortgage Insurance” Explained (Briefly)

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PMI remains a great option for high-LTV financing in 2019, and all too many borrowers and agents do not fully understand how it works. First of all, PMI protects lenders […]Read More

Why FHA’s BETTER Than Conventional In Hot Markets

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My wife Heejin was “on call” for weekend referrals yesterday, and she had two buyers who wanted to switch from FHA financing to 5% down conventional financing. The buyers were […]Read More

2019 Conforming Loan Limit Increases – Good and Bad

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PEOPLE WALKED AWAY FROM MORTGAGE OBLIGATIONS B/C THEY WERE UPSIDE DOWN In 2006, a relative of mine asked me to help her qualify for a condo purchase. Wanting to help, […]Read More

52% of Homebuyers In California & Nationwide Have Down Payments Less Than 20%

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FHA loans are an excellent option for California homebuyers who are in the market to purchase a property but are lacking the funds for a 20% down payment.Read More

First-Time Homebuyers Should Consider FHA Loans in California

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Federal Housing Administration (FHA) loans are an excellent option for California first-time homebuyers looking to buy in the competitive California market. FHA loans in California have low down-payment financing options with flexible underwriting guidelines that are great for homebuyers with liquidity or credit issues.Read More

Mortgage Acronyms Every California Borrower Should Know

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The mortgage industry is infamous for throwing a lot of mortgage acronyms around. If borrowers aren’t familiar with the mortgage industry or the lingo it can be confusing to understand what’s going on at times.Read More

What’s The Difference Between an FHA and VA Appraisal?

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Agents and borrowers alike often find the appraisal process confusing and opaque – it’s why we consistently field questions on what appraisers look for when inspecting a property and how […]Read More

The Pros and Cons of Low Down Payments in California

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When it comes to the down payment in California, buyers always want to know how low they can go. The industry standard is that down payments will be 20% of the property’s purchase price. This percentage is important because it determines if a buyer will need to have private mortgage insurance (PMI) with their loan.Read More

If You Owe Income Taxes, Can You Get a Mortgage? Yes!

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Income Taxes Owed Income tax liabilities are a frequent issue during tax season, and worthy of addressing again. Borrowers can get mortgage financing if they owe income taxes, in most […]Read More

Appraisal Differences Explained! Conventional vs FHA vs VA

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Agents and borrowers alike often find the appraisal process confusing and opaque – it’s why we consistently field questions on what appraisers look for when inspecting a property and how agents can best prepare.Read More

Watch Out For Loan Limit Changes When Crossing County Lines

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We recently had an FHA approved buyer cross the bridge from Contra Costa County to Solano County to make a $600,000 FHA offer on a property. This price would have […]Read More

Reminders: Amendatory Clause; RPA Signatures; Seller = LLC; Deceased Seller

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FHA and VA Amendatory Clause. This form is required for all VA and FHA loans. It lets buyers know they are entitled to the appraisal and not bound to buy […]Read More

Evidence of Success! FHA MI; Extra CO/Smoke Detectors; Local Escrow

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One of our former business coaches used to make us mail out “Evidence of Success” postcards every few months illuminating one of our success stories. We stopped the postcards, so […]Read More

17 Day Close – Conventional and FHA Only; Nobody Closing Jumbos “Fast”

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We tout our “Super 17” or 17 Day Closings often, but we need to emphasize that this is only for Conventional and FHA Loans, and not for Jumbo Loans. Nobody […]Read More