Upcoming changes to the FHA Streamline refinance program will provide big savings for those Orange County FHA borrowers who meet the new criteria. On March 6, 2012 FHA Mortgagee Letter 12-4 was released. In a surprise move, FHA will allow current FHA borrowers whose loan closed AND was endorsed prior to June 1, 2009, to [...]
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620 Newport Center Drive, Suite 630,
Newport Beach, CA 92660
About Tim Storm
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620 Newport Center Drive, Suite 630,
Newport Beach, CA 92660
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HARP 2.0 Refinance for Homes Underwater in Orange County, CA
Home owners in Orange County, CA whose homes are “underwater” and haven’t been able to refinance may be able to now with the latest version of HARP, or the Home Affordable Refinance Program. Now known as HARP 2.0 because of the latest revisions, more Orange County home owners than ever will be able to take [...]
New VA Loan Limits for California in 2012
The California VA loan limits for 2012 have been adjusted down, at least for “high cost” counties like Orange, Los Angeles, and San Diego. The 100% financing VA loan limit has been $700,000 in 2011, but will drop to $621,000. While there was some hope the 2011 limit would remain in place, it’s not too [...]
$700,000 VA Loan Limit in Orange County, CA Remains through December 2011
The 100% VA financing loan limit in Orange County, CA has been $700,000 since January 1, 2011. While Conforming and FHA loan limits will be dropping from $729,750 down to $625,500, the high VA loan limit will remain in place for the last three months of 2011. If what is happening with Conventional and FHA [...]
How an Asset Depletion Mortgage Helps California Homebuyers Qualify for More
An Asset Depletion loan will allow wealthy California homebuyers to qualify for loan amounts that they would otherwise not qualify for based on traditional underwriting standards. While traditional underwriting standards will only look at income shown on the most recent two years tax returns, there are now programs, like Asset Depletion qualifying, that will give [...]
Pledged Asset Loans in California | 10% Down to $10,000,000
The Pledged Asset loan program will allow a California home buyer to purchase a home with as little as 10% down up to a $10,000,000 loan amount! (We’ll call this a Super Jumbo loan) Kind of hard to believe, I know. But true. This program is not for everyone. It is for high net worth [...]
California Foreign National Mortgage Loans
Foreign Nationals purchasing California homes are being offered more options for home financing in 2011 than in recent memory. Finally! Although Conventional and Government (FHA and VA) mortgage guidelines tend to be tightening, there are Portfolio lenders stepping up and offering “makes sense” home loan programs. A Foreign National is someone who visits the United [...]
Jumbo Loan Financing is Making a Comeback in Southern California
Jumbo loan financing has been making a slow comeback in California, which is good news for many home buyers that are looking to take advantage of significantly reduced prices on luxury homes.
FHA Streamline Refinance Program Going Strong in Orange County, CA
The FHA Streamline refinance program has been going strong for the past several months in Orange County, CA. Because of the increased popularity in the FHA program for Orange County home buyers combined with the recent drop on interest rates, large numbers of FHA borrowers have been applying for the Streamline Refinance program. But things [...]
FHA Streamline Refinance Interest Rates Hit New Low for Orange County Home Owners
Orange County home owners with an FHA loan are in for some great news! FHA Streamline Refinance interest rates are at or near all time lows. The FHA Streamline refinance allows current FHA borrowers to take advantage of low rates without having to go through the full loan process they did when they bought their [...]
VA Clarifies Stance on FHA Approved Condos | Good News for Orange County Condo Buyers
The VA clarified it’s stance on allowing financing on FHA approved condo projects, which will help Orange County, CA condo buyers wishing to use VA financing. VA financing provides one of the last true $0 down loan programs for eligible Veterans. In Orange County, CA, an eligible VA loan home buyer can purchase a property [...]
Buying a “Flipped” Property in Orange County with an FHA Loan
Using FHA financing to buy an Orange County home that has recently been “flipped” has not been easy. HUD has for a long time not allowed FHA financing on properties that have been purchased less than 90 days before prior to a new purchase contract. But now it is getting easier. HUD Waived the No Flipping Rule on [...]
How To Check if an Orange County Condo is FHA Approved
In order to get FHA financing on a condo in Orange County, the condo project needs to be approved for financing by FHA. Not all projects are approved, so it is important to narrow the property search to those condo’s that are if you have a desire to take advantage of the benefits of FHA [...]
HUD to Increase Mortgage Insurance Premiums for Orange County FHA Borrowers
HUD announced in Mortgagee Letter 2010-02 that effective April 5, 2010, the Upfront Mortgage Insurance Premiums (MIP) on FHA loans will be increased. This will effect Orange County FHA borrowers who are looking to purchase a home or refinance using FHA financing. Over the past year FHA has played around with different premiums, but most recently [...]
FHA Cashout Refinance Guidelines Prove Helpful for Orange County Homeowners
The FHA cashout refinance guidelines are allowing Orange County homeowners to refinance to low 30 and 15 year fixed rates. Especially for those homeowners who owe more than $417,000 on their home, FHA guidelines are far more lenient than the standard Fannie Mae guidelines. FHA underwriting guidelines are more flexible when it comes to loan to value, [...]
$729,750 Loan Limits for FHA, Fannie Mae and Freddie Mac Extended through 2010 for Orange County, CA
There was great news this week for Orange County, CA home owners and home buyers as Congress agreed to extend the “high” loan limits for another year. On October 29, Congress announced the limits would remain in place through the end of 2010. Only 2 years ago the maximum Conforming loan limit for Orange County [...]
FHA Loans are Proving to be Very Popular in Orange County, CA
Orange County, CA home buyers are finding that FHA financing is a great way to go when purchasing a home. Only a few years ago there were hundreds of different types of loan programs, many offering 100% financing (or higher) for low FICO score borrowers who didn’t need to show the lender much information beyond a few bank [...]
Santa Ana, CA Home Buyers are Taking Advantage of the FHA Loan Program
2009 has been a busy year for Santa Ana, CA First Time home buyers, primarily because of the FHA loan program. FHA has always been a popular program in Santa Ana, but for several years it did not see too much activity. With the proliferation of subprime and other 100% financing programs, combined with the [...]
VA Loans are Gaining Popularity in Orange County, CA
VA loans are making a comeback in Orange County, CA. Similar to the gain in popularity for FHA financing, VA is proving to be a great program for those Orange County first time home buyers with VA eligibility. VA financing never went away, but with the run up in home prices in the early half of [...]
Orange County First Time Buyers and the FHA Jumbo Loan Program
The FHA Jumbo loan program, which is any Orange County FHA loan between $417,000 and $729,750, is becoming a popular program for Orange County First Time Buyers. Professionals with solid, documentable, income, are able to purchase their first home for as much as $755,000 with only 3.5% down payment. FHA is not limited to first [...]
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Carmen Brodeur: Very interesting! I better go buy more wrinkle cre...
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Ria Grace: What is good of having custom home is that you can...
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Patrick: A great online property management forum is agents...
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Kyle Pearce: Unfortunately, in every industry, there are some w...
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$10000 California First Time Home Buyer and New Home Tax Credit Extended
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Unite Against the Sarasota MLS Board
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Short Sale Heaven Coming April 5th 2010
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The Lones Group – Real Estate Social Media Marketing Firm – Sues Agent For Being A Zebra
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California Senate Bill 94 (SB94): Passes; Not even Attorneys can do it!
We are not the FHA, VA, USDA, HUD or any other government organization. The content on this blog is intended for information purposes only.