Archive for the ‘Lending’ Category

Interest Rates Have Nowhere to Go but Up

Monday, April 12th, 2010

Even as prospects for the American economy brighten, consumers are about to face a new financial burden: a sustained period of rising interest rates. That, economists say, is the inevitable outcome of the nation’s ballooning debt and the renewed prospect of inflation as the economy recovers from the depths of the ...

How Much Home Can I Afford? Calculating Debt to Income Ratios

Saturday, May 24th, 2008

When calculating how much home you can afford to buy, lenders use debt to income ratios (DTI) to determine how much you can safely borrow. There are two ratios used; front and back end ratios. The front end ratio is a measurement of just the total monthly house obligations. ...

Blacklisting Hits Homesellers

Friday, May 2nd, 2008

In the nation's worst-hit real-estate markets, home sellers are suffering a new blow: They are being blacklisted by lenders. As property values decline and credit markets contract, home lenders nationwide are growing ever more unwilling to finance home purchases in sharply declining housing markets, driving prices down ...

Alternative Mortgage Financing

Friday, May 2nd, 2008

How many of you out there have sold your home about 2 or 3 years ago for huge profits waiting to buy in again as the market corrects?  If this is you, read on as this can be some helpful information that may save you money or even set a ...

Home Valuation Code of Conduct (HVCC)

Tuesday, April 29th, 2008

Lawmakers in Washington are considering a law that will change how appraisers interact with lenders and agents. It seems that during this time of distress every lawmaker wants to look like they are doing something without really addressing the problem. What does that mean? Law makers are ...

FHA Loan – Debt to Income Ratios

Sunday, April 27th, 2008

With lax lending practices during the past decade, FHA loans became almost non-existent. Those times have come to a screeching halt and as the mortgage melt-down continues and conventional loan programs continue to be eliminated, borrowers are turning more and more to FHA loans since they are practically the ...

Mortgage News for the week ending March 28, 2008

Saturday, April 19th, 2008

Mortgage Time Mortgage Market News for the week ending March 28, 2008 Compliments of John Premysler Applied Wholesale Mortgage PHONE: (877) 912-9669 x302 johnp@awnow.com 184 Technology Dr Suite 200 Irvine, CA 92618 Events This Week: Jobless Claims Down GDP Flat Manufacturing Mixed ...

HUD’s Proposal to Simplify RESPA

Wednesday, April 16th, 2008

HUD has released a document, 24 CFR Parts 203 and 3500 Real Estate Settlement Procedures Act (RESPA): Proposed Rule To Simplify and Improve the Process of Obtaining Mortgages and Reduce Consumer Settlement Costs; Proposed Rule. HUD is looking for comments and/or suggestions before deciding to implement it. The first thing one notices ...

Mortgage Time – Week Ending March 28 2008

Saturday, March 29th, 2008

Mortgage Time Mortgage Market News for the week ending March 28, 2008 Compliments of John Premysler Applied Wholesale Mortgage PHONE: (877) 912-9669 x302 johnp@awnow.com 184 Technology Dr Suite 200 Irvine, CA 92618 Events This ...

Lending Updates!

Thursday, March 27th, 2008

Mortgage insurance companies will no longer insure loans over 97%. Also in order to get 97% financing you will need 680 Fico score, and qualify with income and assets. On the positive note the 3% down payment can come as a gift from a family member. Another change that happened this ...