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…
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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…
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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…
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Dos and Don’ts during your California Mortgage Loan Process

It is very tempting to start thinking about decorating your new home the moment you initiate the mortgage process. But as a Lender, there are certain things I caution my clients against to ensure their California mortgage gets approved smoothly. When you fill out a credit application, they run a credit report for the underwriter. Each lender and each loan program has different guidelines they must follow. You should not do anything that will have an adverse effect on your credit score while your loan is in process. We know it's tempting. If…
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How to De-mystify Mortgage Rate and Become a Better Rate Shopper

Shopping for the best Mortgage rate possible has always been the primary objective when borrowing a home loan. As well it should be! The challenge with this strategy is that there is much misleading information released on the subject by various media. Internet websites and email marketing, along with other media such as radio, television, and billboard advertising, have brought the importance of interest rates to the forefront of consumers' minds. Bait and Switch Technique The problem with this type of marketing is that it is designed to make the lender's phone ring.…
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Breaking News – California Mortgage Rates Sink After Fed Announcement

Ben is at it again. Guns Blazing, Fed announced they are all in for as long it takes. Earlier this morning Fed made the statement that they would buy $40 billion each month of agency mortgage-backed securities on an open end basis. Fed would even extend those purchases and buy additional assets if the job market doesn't improve.  I know you are going like "Shashank - thats too much technical stuff. What does that really mean to me?". Well one sentence answer - a much better mortgage rate. Lets see how it works.…
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California Mortgage Loans to become more expensive – Courtesy of G-Fees

FHFA (Federal Housing Financial Agency) recently announced increase in Guaranteed Fees (aka G-Fees) for all Conforming Fannie Mae and Freddie Mac loans originated in California and rest of the country. Let's try to understand what the G-Fees is and how does it impact you. G-Fees defined (From Fannie Mae website) A guaranty fee, also referred to as a “g-fee, is one of the costs reflected in the interest rate on a single-family mortgage loan. This fee represents the charge by government-sponsored enterprises (GSEs) like Fannie Mae and Freddie Mac to guarantee that an…
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FHA Guideline Changes for Self Employed Borrowers and Collection Accounts

FHA recently made underwriting guideline changes for Self Employed borrowers and borrowers who have disputed and/or collection accounts. The changes apply to residents of states of California, Washington, Oregon and rest of the country. These changes will be effective April 1, 2012 and will impact all FHA mortgages except non-credit qualifying Streamline Refinances and Reverse Mortgages. New Guideline about Self Employed Borrowers: Profit and Loss (P&L) and a Balance Sheet is required if more than a calendar quarter has elapsed since date of most recent calendar or fiscal-year end tax return was filed…
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Mortgage Production Volume Down and Real Estate Sales up in 2012?

The Real Estate sales is expected to inch higher, while mortgage production volume is predicted to go down , according to economists at Fannie Mae. The second half of the year should outpace the first six months in terms of growth, though fiscal policy and political uncertainty in Washington will likely drive consumer and business activity, the mortgage giant said. Fannie Mae Chief Economist Doug Duncan said - Positive consumer activity and challenges in housing and the global economy will equate to moderate growth for the year. We're entering 2012 with decent momentum,…
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California FHA Mortgage Insurance Premium goes up – AGAIN!

FHA recently announced an increase to the Annual Mortgage Insurance Premium on standard California FHA loan programs. This is a second increase in less than 6 months. FHA earlier increased Annual Mortgage Insurance Premium in October 2010. **The information to this post has been updated. Read our complete guide for FHA mortgage insurance premium for the latest information. Click here to go to that post.** Here are the 6 things you need to know about these changes: These changes are effective April 18th, 2011. The Annual Insurance Premium will increase .25% for standard…
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