With home prices on the rise, especially in markets like New York and San Francisco, it’s common for mortgage loan amounts to exceed the conforming and high balance conforming loan limits as set by regulation. These loan limits often...
If you are looking to purchase a manufactured home as your residence, you have many options available. Understanding the different organizations, as well as the eligibility requirements, can help you get the right loan for your specific needs. In the...
The residential mortgage industry has seemingly endless amounts of jargon and abbreviations. Here is what to expect from a home loan on a non-warrantable condo. When it comes to the purchase or refinance of a condominium, the most important terminology...
Between 2007 and 2014 millions of home owners proactively reach out to the company that was servicing their home loan in an attempt to modify the terms of their current home loans. In many situations, banks proactively reached out...
A Jumbo Home Loan is classified as any loan amount that exceeds the county high balance loan limit under which the transaction will occur. Jumbo loans will represent the most stringent loan product type qualification. Banks that make Jumbo...
The mortgage meltdown fueled by irresponsible lending practices created a nationwide banking emergency that sent the country into a recession late December 2007- June of 2009. Here is everyone on how this presidential election impact home loans. In the midst...
If you’re a regular follower of financial news and the real estate market in particular, you’ve probably noticed that it’s taken almost a decade for home values to finally return to their pre-Great Recession highs of 2007. It’s also...
One of the biggest challenge for self employed individuals in the process of purchasing or refinancing a home is the documentation of income. Over 90% of mortgage transactions are underwritten using a traditional income analysis in which a mortgage bank...
HERO (Home Energy Retrofit Opportunity) is a program that is part of the statewide PACE (Property Assessed Clean Energy) effort. PACE was established in California in 2001 and was used as a blueprint for at least 30 other states....
The most popular way to use a Bridge Loan or a Listing Loan is in a purchase transaction when a buyer would otherwise be forced to make a contingent offer. Some reasons for a contingent offer may include, but...