Category archive: Mortgage News

Now that You Have Been Approved for a Mortgage, Don’t Blow it!

Qualifying for a home mortgage is tough business. First you have to prove you have a good, secure job or retirement funds that provide ample income to cover a monthly payment. Then comes documentation and more documentation showing tax returns, identification and banking information. Now that You Have Been Approved for a Mortgage, Don’t Blow…

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FHA Revised Mortgage Insurance Premium Cancellation Policy

Act Now! If you are planning to buy a house in 2013, you should consider doing it sooner than later. FHA is planning to change the terms associated to mortgage insurance premiums (MIP) this year. Since 2001, once your loan reaches 5 years / 78% LTV, MIP was dropped. This will no longer be the…

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2013 VA County Loan Limits For California

The Department of Veterans Affairs (VA) Loan Guaranty program does not set a maximum amount that an eligible veteran may borrow using a VA guaranteed loan. However, the following county “limits” must be used to calculate VA’s maximum guaranty amount for a particular county. These limits apply to all loans closed January 1, 2013 through…

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Sandy Hits the Mortgage Industry Hard

Although we aren’t hearing minute by minute coverage of Hurricane Sandy now that it is two weeks past, we are definitely feeling it within the mortgage industry. Initial estimates have been reported near $20 billion in damages. From displaced homeowners to damaged commercial structures, the East Coast will be rebuilding for a while. This horrific…

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