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Mortgage and Lending - Preferred Rate Partnered with American Pacific Mortgage #1850 - NMLS#222444
RECENT BLOG POSTS
Fannie Mae just released a new bulletin announcing that they will allow 3.5% seller credit on their Home Path program on owner occupied properties.  On top of that, they are offering a bonus to the selling agent.  For full program details, check out their announcement at http://www.fanniemae.com/...
09/24/2010
   Here's a handy reference chart, with the FHA or VA waiting periods, if they mention they have had a bankruptcy or foreclosure, deed-in-lieu or short sale. OR if you are listing a home and the seller is considering a short sale or deed-in-lieu, use the chart to advise them how long they may hav...
09/14/2010
So do you wait to see IF they will release a new homebuyer tax credit before buying a new home.  Effective October 4, 2010, FHA will lower their upfront mortgage insurance premium to 1.00% from 2.25%.  Sounds great right?  Well, not so fast.   They will be increasing the monthly insurance premium...
09/01/2010
Prior to 2003, underwriters were required to dot all the "I"s and cross their "T"s.  Then all hell broke loose - where anyone who could fog a mirror, was able to get a mortgage. Well, the pendulum has swung back the other way.  Fannie, Freddie, FHA and even VA have issued more stringent rules and...
09/01/2010
Check Out All of These Little-Known Sources for FHA Down Payment! Have you heard or thought of this before? "I'd like to buy a home but don't have the money for the down payment or closing costs!" There are a lot of lesser-known alternative sources of funds that are acceptable to FHA! Gift Funds ...
08/25/2010
This will further explain what HUD is doing on FHA loans as I described last week.  Check out this link as Frank and Brian show how it will affect buyers of homes.   Get off the fence and get in contract and a case number ordered before September 7.  http://www.thinkbigworksmall.com/mypage/archiv...
08/09/2010
News Flash-HUD Announces MI changes effective September 7, 2010 - UFMIP will be reduced to 1.00% on all amortization terms. Annual MIP will be increased to .9% for LTV's >95% and amortization terms >15 yrs. Mortgagee Letter to be released shortly. Here's a link to the letter from David Stevens. h...
08/05/2010
Fannie Mae has a great new website out to help you to understand what your options are besides foreclosure.   I thought this would be something useful to pass on to you either for yourself or someone you know that may be going through this. Here is the link:  http://knowyouroptions.com/  Feel fre...
08/04/2010
  New Rules Make For a Bumpy Ride to the Closing Table The mortgage world is controlled by at least 8 different government agencies (and I wouldn't be surprised if the CIA was one of them).  There are more rules than one can say "grace" over these days - so here is a list of obstacles that could...
08/03/2010
(All info provided assumes existing loan was originated on or after December 15, 1989) An FHA assumable loan can be an attractive feature when selling or listing your home for both the buyer and seller, especially in today's declining value market.   Here are some quick facts on FHA assumptions: ...
08/02/2010
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Jayne Combs NMLS#222444

Sr. Mortgage Consultant
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