In 1934, the Federal government passed the National Housing Act as part of the “New Deal,” which was President Franklin D. Roosevelt’s massive plan to provide relief from the Great Depression, relief that would come, it was hoped, through...
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...
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...

Jumbo Reverse

For homeowners that are 62 or older, they’ve had access to the Home Equity Conversion Mortgage, or HECM. The HECM turns some of the current equity in the home into cash payable directly to the owners of the property....
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...
As of December of 2015 one of the most innovative loan programs to come around in a long time was introduced to help those who may have trouble buying a home due to down payment and closing cost issues...
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....
One of the most important factors when seeking a loan is your debt-to-income ratio. Whether it’s car loans, mortgages, or business loans, lenders want to see a healthy ratio with less debt and more income. In most cases, the...
Yes, you read the headline correctly and no it’s not a return to the dizzy days of nonchalant loan approvals. In fact, it is a return to the days when lenders were able to employ a bit of common...
A bankruptcy is generally the result of something very bad happening in someone’s financial life. No one enters into a loan agreement of any sort, either the debtor or the creditor, with the intent to default on the loan....