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Home Mortgage News

How do Mortgage Credit Certificates Work?

The Mortgage Credit Certificate Program is a fantastic way to maximize tax credits when taking out a mortgage to purchase a home. The Mortgage Credit Certificate also known as MCC is available in Orange County, Los Angeles County and the Inland Empire. Scott Schang of Broadview Mortgage in Long Beach explains why you should take […]

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Home Mortgage News

A Complete Guide to FHA Mortgage Insurance Alternatives

As FHA mortgage insurance rates continue to sky rocket, leaving more and more home buyers with fewer home loan options, private mortgage insurance comes to the rescue. After 2007, private mortgage insurance became more more difficult to qualify for and was not a great alternative to the low cost of FHA financing and the then, […]

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Home Mortgage News

Community Access Loan is FHA Mortgage Insurance Alternative

With FHA Mortgage Insurance costs increasing in 2013, home buyers are desperately seeking out alternatives to increase buying power and reduce mortgage payments. The Broadview Mortgage Community Access loan is that alternative.  This is a conventional loan program that does require private mortgage insurance (PMI) offered at a special discounted rate. The discounted PMI of the […]

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Home Mortgage News

Will FHA Streamlines Go Away in 2013?

Homeowners with a FHA insured mortgage may be eligible for a special refinance program that offers reduced cost, and reduced documentation refinancing options. The FHA streamline refinance program allows home owners to reduce their interest rate to current market rates if: At least 6 payments have been made on your current FHA mortgage No late […]

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Home Mortgage News

FHA Home Loans Changing in 2013

Perhaps you have heard already that the FHA will further change its overall look in the coming year. I’ve already started to see Facebook comments about FHA and many of them are just rumors. The truth can be described easily as it applies to the real estate industry: 1) The Annual Mortgage Insurance Premium (MIP) […]

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Home Mortgage News

When Can You Buy a Home Again After Foreclosure

So your ready to buy again but you’ve had a foreclosure and you ask yourself these questions. How long do I have to wait? How do I qualify? What steps to I need to take to be eligible? Can I be a first time buyer again? What a difference a couple of years can make. […]

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Home Mortgage News

How Do Historic Low Interest Rates Sound?

Interest Rates Continue to Fall as Buyers Flock to the Improving Real Estate Market In case you missed it, the Federal Reserve Board announced last week that they would be infusing $40,000,000,000 (billion) more into mortgage backed securities on a MONTHLY basis. The immediate effect on rates was dramatic and there is potential for more […]

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Home Mortgage News

How Soon Can I Purchase After a Short Sale?

About Short Sales The facts about how long buyers must wait before obtaining financing. A common question home buyers have today is: How long must I wait before obtaining financing after a short sale? Below is an overview by loan type of this important information. It depends on the loan you want to get to […]

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Home Mortgage News

Mortgage Rates Drop After Fed Announcement

Mortgage rates abruptly dropped last week after the Fed unveiled a third round of large-scale asset purchases known as quantitative easing or QE3.  Although the dollar amounts announced today are smaller than QE1 and QE2, the Fed deviated from past easing announcements and opted for open-ended buying this time.  Not only that, but the buying […]

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Home Mortgage News

How Much Can I Buy with an FHA Loan

If you looking to purchase a home using an FHA (Federal Housing Administration) loan because you are looking to put a lower down payment, there are limits on how much you can buy. As you probably already know the minimum down payment needed for an FHA loan is 3.5 percent. Depending on the county you […]