Doug's Blog

Have a client that purchased in 2008 using FHA Financing? Ask about the FHA Streamline refinance option, available only to FHA borrowers. With the interest rate climate at the lowest in decades, many buyers in 2008 locked at 6-7% interest rates. This is an opportunity to capatalize on the new mar...

It may not take perfect credit, but you better have a good income before applying for FHA Financing. Typically, an Underwriter looks for employment and income stability. You should have at least a two year documented employment history. There are no minimum assets required, however, you need to t...

Nehemiah will gift you up to 3% of the Purchase Prive for a down payment. The Seller must agree to participate in the program. Basically, the 3% is deposited by Nehemiah and it is deducted from the Sellers proceeds after the close of escrow.  Combine this with a new FHA loan and you can purchase ...

GOT KEYS? FHA no longer requires a termite inspection. FHA is a Federal Housing Program, designed to help you qualify for a new home purchase with little or no down payment. Gift funds are acceptable for the 3% down payment required, or you can ask the Seller to participate in a Down Payment Assi...

It is true, we are facing the worst foreclosure market in US history. But why?It started about 10 months ago when the Federal Reserve increased interest rates, specifically, the rate that affects short term interest rates. Many home loans were tied to ARM's (adjustable rate mortgages) due to high...

Most people receive a yearly income increase, and as we progress in our careers, we typically are paid more money with time. We gather more experience, receive that diploma or certificate that opens doors. First Time Home Buyers: Now offering FHA BUY DOWN Program. A FIXED 30 YEAR LOAN, and the le...

It is obvious, most agents are not that well versed in the approval process. An agent must understand the philosophy of the deal. Why should a bank employee who has 250 plus cases to work each day, take your case and MAKE IT WORK? You must call each Monday and make it a priority to get your clien...

Great News!!!FHA has posted the new California loan limits. The Sacramento MSA loan limits, which include El Dorado, Placer, Sacramento and Yolo Counties are as follows:   1 unit - $580,000 2 unit - $742,500 3 unit - $897,500 4 unit - $1,115,400   You can also access the entire list of the Califo...

Volume 1, Number 1 Economic Highlights for the Week Ending February 29, 2008 MONDAY, February 25th Rate cut expectations remain firmly in place as the Fed tries to minimize the severity of the economic downturn. Fed funds futures traders are pricing in a 94% chance the Fed will lower the fed fun...

Have you had some trouble staying current on your mortgage payment ? Or maybe a rental property has suffered some damage, and you were unable to rent it out for time, forcing a delinquency. Are you back on track but having trouble catching up? Your lender may have a solution for you. It is possib...