From the category archives:

FHA

FHA Streamline Refinance Guidelines Changing in 2010

September 22, 2009

New FHA Guidelines for Streamline Refinance in 2010
Under today’s 2009 FHA streamline refinance guidelines, homeowners with FHA mortgage loans are able to lower their monthly mortgage payment when FHA reduces the interest rate. Today’s guidelines allow homeowners to refinance without an appraisal or verifying income and assets with fast turnaround times. Even homeowners [...]

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Maximum Allowed Debt Ratios for San Mateo Mortgage Loans

September 3, 2009

Debt ratios are a percentage of your continuing debt compared to your gross monthly income. Continuing debt would include a car payment, student loans, monthly credit card payments or any other type of debt that will carry over with you and continue with your new San Mateo County home purchase. This does not [...]

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9 Questions to Ask When Financing a Condo with FHA

August 18, 2009

Financing a condo with FHA financing in today’s San Mateo County real estate market is getting more difficult. With FHA lenders tightening their guidelines, borrowers are required to jump through more hoops to buy a condo in San Mateo County. Not only must the borrower be pre-approved and qualified to the lender’s satisfaction, [...]

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Mortgage Myth Busted: I Must Have Steller Credit to Buy a Home

June 29, 2009

Many people think they need to have stellar credit and no debt in order to get a home loan. That’s just simply not true. Different loan programs have different credit score qualifications. Some programs will accept credit scores as low as 580. For those of you who haven’t established credit, or [...]

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Mortgage Myth Busted: I Don’t Have 20% to Put Down So I Can’t Buy Now

June 22, 2009

In the past, lenders have required at least 20% down payment on a home loan. However, new financing programs only require you to put 3% down, or even 0% down in certain geographical areas of the Peninsula. (For a $300,000 home, a 3% down payment is $9,000.)

How Can I Buy With No Money [...]

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