The Mortgage Update

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Mortgage and Lending - HomeStreet Bank - nmls 251456
Daily blog of items of concern and interest
RECENT BLOG POSTS
So you have decided to buy a piece of residential real estate and you are going to us a loan to buy it. Solid preparation here at the pre-interview stage is going to determine how your loan will flow after you submit your application. Most lenders will require similar documentation as the low doc...
10/19/2012
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Greece and the stock market are two words that set the tone for our mortgage market this AM.   It seems the bailout of the Country of Greece has been solidified and with some international anxiety reduced, the stock market is up as well.  That news has worsened our mortgage market this AM with p...
05/03/2010
Important Update (04/28/10): The 2010 New Home Credit and First-Time Buyer Credit begins May 1, 2010. Forms, new information and FAQ's have been added. The New Home / First-Time Buyer Credits are available only for purchases that close escrow on or after May 1, 2010.  Applying for the 2010 New H...
05/03/2010
Do you want to buy or sell a high end property but do not know how you or a client will find financing? I am offering mega jumbo loans to a $2,000,000 loan balance. Todays 30yr fixed is 5.75% APR 6.315% or a 5yr fixed for 4.75% APR 5.315%
03/26/2010
Well we knew that this would be an issue sooner than latter. Agents and buyers. if you are getting a conforming loan and are NOT putting 20% or more down please pay close attention. if you have a FICO/Credit score of less that 700s this is for you. You may not be able to get mortgage ins and be f...
12/29/2009
A new FHA mortgagee letter has come out look it up. 09-52. It states that if for reasons out of your control you had to short sell your home and kept current on all payments inc your mortgage but did a short sale you can re buy a new to you property using FHA. This is huge news for all the people...
12/29/2009
With 2009 come the new loan limits which are different per county. Below is a link to look up your county. Rates are good on these loans. Also rates are very low for the reg loan sizes. FHA is also in a very good place. We offer up dated rates on our web site at www.aim-loan.biz. we have also jus...
12/05/2008
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In the past few days i have seen a few of the same types of deals and thought i should write a bit about this.   When you or a buyer are buying a new home and they plan to rent out the existing home you may not use the rental income of the existing home to help off set the payment for quilifing f...
10/03/2008
We are now hiring seasoned loan officers for our Federal Savings Bank in all States.   If you have: 2yrs experance, a good flow of loans and a desire to do loans in all states (FHA, VA and Conforming) Please reply to me at my email address posted with active rain. If you are not closing a min of ...
09/17/2008
Hello Clients and Agents,   FHA is the King of all loans again.   Who needs stated income when FHA will allow  multiple Blood or by marriage relatives to co sign on the loan.   FHA allows as many 2nd  or 3rd loans on any loan they do, there is no combined loan limits by dollars or percentage (not...
09/17/2008
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Christopher Austin

CAmortgageKing
smartphone(805) 806-0088
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Updates to the mortgage industry and related items.