FHA Loans Insurance Premiums (MIP/PMI) – Rates + Calculator

Ultimate guide to Upfront and Monthly Mortgage Insurance Premiums (MIP/PMI) rates for FHA purchase loans and (streamline) refinances. FHA charges both an upfront mortgage insurance premium and monthly mortgage insurance on almost all the loans it insures. On December 23, 2011 the President signed into law Temporary Payroll Tax Cut Continuation Act of 2011 which […]

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How To Get The List Of All FHA Approved Condos {Video}

I did a quick video to show you how you can find out a list of all FHA Approved condominiums. You can search for all approved condos in a certain State, City or Zip code. You can also search if a certain condo is FHA approved or not. And if you need help with FHA […]

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California 30 Year Fixed Mortgage Rates Climb For Third Consecutive Week

According to Mortgage Bankers Association (MBA) weekly survey, California mortgage rates increased again last week. The rates have now increased for five out of last six weeks. This is the third consecutive week that 30 year fixed rates have gone up. Overall the rates have gone up by .25% after hitting the lowest levels in […]

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Say No To Mortgage Insurance (PMI) – 80/10/10 Loan Is Here

If you have only 10% downpayment and do not wish to pay a private mortgage insurance (PMI), we have the right solution for you – 80/10/10 loan. Yes, it’s back and this post will give you all the details you need to know. How does an 80/10/10 loan work? Usually, a 2nd mortgage or a […]

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Conventional Loan Limits for 2013 Announced; Jumbo Limits to $625,500

The Federal Housing Finance Agency (FHFA) announced last week that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2013 will remain at existing levels. In most of the country, the loan limit will be $417,000 for one-unit properties. The loan limits are established under the terms of the […]

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Bye Bye $729,750! Welcome Back $625,500 (Sigh!)

Bay Area Conforming and FHA Loan Limit goes down These loan amounts over $417,000 are known by several names like – Loan Limits for High Cost Areas, Super Conforming Loans, High Balance Loans or Conforming Jumbo loans. They are going down from the current $729,750 to $625,500. For the current loan limit of $729,750 the […]

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Changes to California FHA Streamline Refinance Loan Programs

FHA announced changes to California Streamline refinance transactions. The FHA issued Mortgagee Letter provides guidance on the changes as well as clarification on existing streamline refinance guidelines. *** To Read the Complete Guide on California, Washington and Oregon FHA Streamline Refinance and to request a mortgage rate quote go to my new blog post – […]

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FHA extends 90 day flip rule for California Mortgages

FHA today extended the 90 day flip rule for California FHA Mortgage Loans. In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Federal Housing Administration (FHA) today extended FHA’s temporary waiver of the agency’s ‘anti-flipping rule.’ The extension announced today is intended to accelerate the resale of […]

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How to calculate Debt-to-Income (DTI) Ratio For My California Mortgage?

Debt-to-Income (DTI) Ratio is one of the many new mortgage related terms many First-Time Home Buyers in California will get used to hearing. DTI is a component of the mortgage approval process that measures a borrower’s Gross Monthly Income compared to their credit payments and other monthly liabilities. Debt-to-Income Ratios are designed to give guidance […]

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Is Mortgage Insurance (MI) Tax Deductible and other FAQs about MI

Is Mortgage Insurance (MI, also called Private Mortgage Insurance PMI) tax deductible in California? We will address this question and some other FAQs about Mortgage insurance in this post? Q. What is mortgage insurance (MI) tax deductibility and how does it work? A. The law provides for an itemized deduction on federal tax returns for […]

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