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When the Federal Reserve mentions interest rates, they’re not talking about interest rates on home loans. They’re referring to the rate the Federal Government charges on the money they lend to banks and financial institutions, also knows as the...
Another area that we're starting to see lenders expand their offerings is programs for borrowers who have had a short-sale within the past 4 years. The interest rates on these loans however are usually in the high 6’s and even...
HOME POINT Financial is excited to announce a brand new Stated Income Verified Asset program for 2015 with loan amounts up to $2 million for qualified borrowers for home purchase, refinance, and cash-out transactions. Below is a brief discussion of...
What is a Non-Qualified Mortgage (Non-QM) and how does it help Southern California homeowners? First, a brief history on what makes a mortgage loan product a "QM", or “Qualified Mortgage.” The Consumer Financial Protection Bureau (CFPB) is an independent agency...
The great American Dream of homeownership is still alive and well in 2015, and it isn’t reserved exclusively for US Citizens! Here’s a brief summary of Home Point Financial's Foreign National & Nonpermanent Resident Alien Home Loan Program guidelines - updated...
An Arm’s Length Transaction refers to a real estate purchase transaction in which both the buyer and seller are conducting business from an equal bargaining position, with neither party having any control or influence over the other.  In contrast,...
The majority of mortgage banks require a minimum down payment of 20% for any loan that is determined a Jumbo Loan. In San Diego County a Jumbo loan is considered any loan amount that is over $546,250.00. There are...
Condominium loans are unlike loans for single family residences. The biggest difference is that not only are the qualifications (income calculations, credit history, and down-payment capabilities) of the borrower taken into consideration, but so are the qualifications of the...