Credit Tips for getting a Home Loan
Get Rid of FHA Mortgage Insurance With Refinance to Conventional
In the past 18 months real estate prices have risen in California enough in many cases for borrowers to refinance out of FHA loans with high monthly mortgage insurance to conventional loans at 80% or less loan-to-value with NO mortgage insurance. If you have a FHA loan in California, don’t hesitate to contact me to [...]
FHA Loan Credit Score Requirements In California
FHA home loans have more lenient credit quality requirements than conventional loans. FHA will often allow a applicant to be approved for a FHA home loan even if their FHA loan credit score is not perfect. Below are some facts about FHA loan credit requirements: You can get a FHA loan two years after a [...]
FHA Loan Limits In California
FHA has the highest loan limits in the state of California. In many cases higher than conventional loan limits. Below are the 2013 FHA loan limits for selected counties in California. You can go up to these loan limits with only a 3.5% down payment. San Diego County: $697,500 Sacramento County: $580,000 El Dorado County: [...]
Upcoming Changes to FHA Loan Mortgage Insurance in California
For all new FHA home loans starting April 1st there will be a number of changes made to the mandatory monthly mortgage insurance premiums paid for all FHA home loans. Below are the changes: For FHA loans less than $625,000 and more than 5% down, the monthly mortgage insurance will rise from 1.25% to 1.30% [...]
