Real Estate Industry Blog » Tim Storm

New VA Loan Limits for California in 2012

Tim Storm — Mon, 12 Dec 2011 06:08:01 +0000

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

Tim Storm — Fri, 09 Sep 2011 16:28:13 +0000

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

Tim Storm — Mon, 09 May 2011 17:31:41 +0000

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

Tim Storm — Tue, 03 May 2011 15:34:28 +0000

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

Tim Storm — Thu, 21 Apr 2011 17:07:00 +0000

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

Tim Storm — Sat, 13 Nov 2010 21:02:25 +0000

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

Tim Storm — Sun, 12 Sep 2010 19:23:23 +0000

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

Tim Storm — Thu, 01 Jul 2010 06:44:10 +0000

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

Tim Storm — Sun, 23 May 2010 17:50:24 +0000

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

Tim Storm — Sat, 27 Mar 2010 00:51:53 +0000

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 [...]