Buying a Home After Short Sale, Foreclosure, Bankruptcy or Charge Off

Mortgage Meltdown of 2007 and rapid depreciation in real estate prices post that, resulted in financial crisis for a lot of homeowners. As a result of which, several of them went through a foreclosure, short-sale or bankruptcy. If you are one of those you must be trying to find out - how soon you can buy a house again. By the end of this post, you would know when you can qualify for mortgage - conventional loan, VA Loans or loans insured by Federal Housing Administration (FHA). When do I qualify for a…continue reading →

12 Ways To Go Green In Your Home

Today, it is easier than ever to create an environmentally friendly home. There are so many different ways and simple steps you can take at home, to help greenify your house and help the environment at the same time. Switch all of the light bulbs in your house to compact fluorescent light bulbs. Cfl's use much less energy than regular light bulbs. If you don't want to switch all of them, just switch out the bulbs in your home that you use the most. Switch out appliances that you use the most, to…continue reading →

A Slew Of New Guidelines Can Clip Mortgage Origination By 20%

Since the mortgage meltdown of 2007, the industry has been hit with a slew of regulations. While consumer advocates think much still needs to be done, industry insiders and some outside experts thing the pendulum has swung too much on the other side and is impacting the housing recovery. A recent study by American Action Forum estimates that new regulations would not only hinder qualified borrowers from access to loans, but also result in 20 percent fewer loans than otherwise would be made. Some of the major guidelines and regulations in recent years…continue reading →

Fremont Mortgage Lender- Get Rate Quote For Refinance or Purchase

Looking for a top rated Fremont,CA mortgage lender/company to get a no closing cost rate quote for refinance or home purchase? You have reached the right place. Arcus Lending is a direct lender and has been featured on several national media like NBC, CBS, FOX, ABC, Yahoo! News among others. We have a perfect 30/30 rating on Google Places and 5 start rating on Yelp. We offer FHA, VA, Conventional, Jumbo, VA and Homepath loans. Our loan options include Fixed Rate loans (30, 20, 15 and 10), ARM (5, 7 and 10 year…continue reading →

FHA to Hike Mortgage Insurance Premium, Prevent MI Cancellation

Federal Housing Administration (FHA) said it will hike mortgage insurance premium (MIP) again. Its also setting in place regulation that will prevent all new borrowers to cancel their mortgage insurance premium even if the loan-to-value requirement is met during the life of the loan. This was announced in the FHA press release issued on November 12, 2012. FHA mentioned that over the past year it has been critical to housing recovery by insuring 1.2 million single family mortgages, with 78% loans to first time home buyers. FHA accounted for 50 percent of home…continue reading →

From $900 billion to $1.7 trillion – Mortgage Origination Breaks All Predictions in 2012

Mortgage Bankers Association (MBA) is now predicting that the mortgage origination volume for 2012 can exceed $1.7 trillion. This is almost double of what they predicted before the year began - a meager $900 billion. Quarterly Data Report and The National Mortgage News are forecasting $1.75 trillion in fundings this year, 70% of which will be refinancing. Last year mortgage bankers funded $1.436 trillion. See the historical and projected production in the chart below (source MBA) “We expected 2012 originations to be front-loaded in the first half of the year, with refis falling…continue reading →

Key Tax Issues After The Presidential Elections – Romney and Obama Wont Tell You This

Whatever the outcome of the presidential election on Nov. 6, the next Congress and president will face a pile of unfinished tax business. Some of this stuff has been lying around since 2010, and dealing with it can't be postponed much longer -- just ask the beleaguered Internal Revenue Service personnel who can't get any closure on what the 2012 tax forms will look like. Here's the story on the most important unresolved personal tax issues -- complete with fearless predictions. Payroll Tax Holiday For 2012: the so-called payroll tax holiday cuts the…continue reading →

California Mortgage Rates Edged Up Again Last Week

30 Year Fixed and 15 Year Fixed Mortgage Rates continue to edge up for California Refinance and Home Purchase borrowers. In the latest Freddie Mac survey, the 30 Year Fixed rates are at 3.41% with 0.7 points up from 3.37% last week. The 15 Year Fixed rates are at 2.72% with 0.6 points, up from 2.66%. Adjustable rate mortgages (ARM) remained the same as last week. reported a 3.47% rate for 30 Year Fixed Mortgage and 2.85% for 15 Year Fixed Mortgage. Note that these average rates are for conforming mortgage loans…continue reading →

Is Qualified Mortgage Rule Biggest Risk To Real Estate Recovery?

Banks are talking about it, Credit Unions are talking about it, Loan Officers are talking about it, heck even the President and wanna be President are talking about it. Not too many people know exactly what it is and how it will pan out - but one thing is for sure, it definitely has the potential of derailing the nascent real estate recovery. As part of implementing the Dodd-Frank act, Consumer Financial Protection Bureau (CFPB) plans to finalize the rule for  "qualified mortgage (QM)" in January 2013. This proposal is the first ever…continue reading →

Average 30 Year Fixed Mortgage Rates Continue To Be Under 3.5%

Both Freddie Mac and in its latest survey announced that the average 30 Year Fixed mortgage rates continue to be under 3.5%. While Freddie Mac reported a rate of 3.37% with 0.7 in points, reported 3.46%. Per Freddie Mac, rates went down 3 basis points from last week while rates actually went up from last week. In my own experience as a Loan Officer, I have seen rates going up from last week, so the survey to me looks more accurate. Note that these surveys are for loan amounts…continue reading →

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