New Income Limits for CalHFA loan programs
Saturday, October 03
Effective Monday, October 5, 2015 will be new income limits for all CalHFA conventional and FHA loan programs. Income limits vary by county but listed below are some of the most popular counties. Income limit is based on a single person household and increase with household size.NorCal - County ...
CalHFA replaces CHDAP, plus Zip Extra with MyHome Assistance Program
Saturday, September 26
CalHFA announced effective September 24, 2015, that this is the last day for lenders to originate loans with CHDAP. Effective September 30, 2015 is the last day for lenders to originate loans with CalHFA plus Zip Extra.CalHFA announced that it is ending the well known California Homebuyer's Downp...
Manufactured Homes and GSE backed loans...
Saturday, August 15
The manufactured-housing industry wants Freddie Mae and Freddie Mac to be required to fund higher-risk loans most commonly used to purchase mobile homes. Industry reps said this week that the Federal Housing Finance Agency (FHFA), the agency that oversees the government-sponsore...
Give or Not Give a Closing Gift
Wednesday, August 05
Back in the early 1900s before brokering real estate required a license, real estate sales people would give closing gifts to their clients not only to show their love and appreciation, but also so that when the buyer was ready to sell the home, they would remember the salesperson because they wo...
Freddie Mac changes for buyers with defered student loans
Wednesday, August 05
Freddie Mac Announced that it will be making slight changes to loans affecting borrowers getting loans immediately after graduating with their student loan debt on deferred or forebarance status. The changes are as such: A). The way the debt will be calculated will be to include 1% of the studen...
What Down payment Assistance Looks Like
Monday, August 03
Many people these days would rather own than rent when it comes to their home. Rightfully so because owning is cheaper than renting at this particular time. The 1 thing holding back most would-be homeowners is lack of sufficient down payment. But that is no longer an excuse. There is a down payme...