California Housing Market Update For February 2019

California Housing Market Update For February 2019 Source: Pacific West Association of Realtors “It is worthwhile to mention the weather when discussing residential real estate for large portions of the U.S. for February 2019, because this month has turned in some impressively cold, rainy and snowy days that have stalled some buying and selling actions.… Continue reading California Housing Market Update For February 2019

California Housing Market Update For June 2018

California Housing Market Update For June 2018 Source: Pacific West Association of Realtors “Housing markets across the nation are most assuredly active this summer, and buyer competition is manifesting itself into several quick sales above asking price. While the strength of the U.S. economy has helped purchase offers pile up, the Fed recently increased the… Continue reading California Housing Market Update For June 2018

Loan Documents Check List for Wage Earner and Self Employed

Some lenders may offer minimal documents from borrowers; however to ensure the income and assets are not missing out during approval process, please making sure you have this check list of documents for your loan officer: 1. W-2’s and or 1099’s, along with Federal Tax Returns with ALL Pages and ALL Schedules for 2 most recent… Continue reading Loan Documents Check List for Wage Earner and Self Employed

Non-Borrower Household Income Flexibility

“HomeReady recognizes the growth of extended-income households by allowing the existence of non-borrower income to be considered a compensating factor in Desktop Underwriter® (DU®). HomeReady permits the borrower to have a higher debt-to-income (DTI) ratio – higher than 45%, up to 50% – considering available household income to provide additional assistance with household expenses if… Continue reading Non-Borrower Household Income Flexibility

Great news for FHA borrowers

Federal Housing Administration, known to be the government insurer of low down-payment home loans, has just reduced annual mortgage insurance premium by 25 basis points. FHA pointed out that the reduction in insurance premium was due to the improved financial condition of the FHA’s insurance fund and continue to make home-ownership less costly. With the… Continue reading Great news for FHA borrowers