Inland Empire Direct Mortgage Lender | FHA VA USDA HARP 2 Home Loans

When and How to Cancel FHA Monthly Mortgage Insurance (MIP)

Brad Yzermans — Sun, 26 Feb 2012 05:18:59 +0000

If buying a home with an FHA loan, or if you have a FHA mortgage now, it’s important you understand WHEN you can get rid of or cancel the FHA monthly mortgage insurance premium (MIP) and then know HOW to cancel the FHA mortgage insurance. Fortunately, FHA mortgage insurance is not permanent…..so there is hope [...]

HARP 2 Interest Rates to Refinance a Mortgage in California

Brad Yzermans — Wed, 22 Feb 2012 07:12:58 +0000

Current HARP 2 interest rates to refinance a mortgage in California today are very low. How low? Low low…..much lower than an the existing interest rate for someone who eligible for the HARP 2 refinance program. Common question: Are today’s HARP 2 interest rates the same as if someone is buying a home with a [...]

Platinum CA Home Buyer Assistance Grant Funds Available Again

Brad Yzermans — Fri, 17 Feb 2012 00:53:14 +0000

I’m excited the NHF CHF 3% Platinum California home buyer assistance grant program (down payment assistance) has funds available again for qualifying home buyers. CHF’s mission is to increase responsible home ownership throughout California by providing down payment assistance to both second time move up buyers and first time home buyers. Do this ==> 3% [...]

USDA Rural Streamline Refinance Pilot Program – Guidelines

Brad Yzermans — Mon, 13 Feb 2012 22:06:07 +0000

The USDA Rural Housing Guaranteed home loan program announced a new USDA Streamline Rural Refinance Pilot program to make refinancing easier and faster. Why the changes? It’s part of President Obama ‘s plan to help reward responsible homeowners. The new USDA streamline refinance pilot program will give California homeowners the opportunity to reduce their interest [...]

Approved HARP 2 Refinance Lender in California

Brad Yzermans — Thu, 26 Jan 2012 09:54:55 +0000

With President Obama’s recent changes to the Home Affordable Refinance Program (HARP) t0 help more people refinance into a lower interest rate, it’s unfortunate many mortgage lenders/brokers in California choose NOT to offer the new HARP refinance DU Refi Plus or the Relief Refinance-Open Access loan program. Approved HARP 2 Mortgage Lender & Broker in [...]

Extenuating Circumstance to Buy After BK, Foreclosure or Short Sale

Brad Yzermans — Fri, 20 Jan 2012 21:36:24 +0000

To qualify for a mortgage and buy again soon after a foreclosure, short sale, or bankruptcy, you will need an acceptable extenuating circumstance. If you don’t have an acceptable extenuating circumstance, you need to either wait-it-out, purchase a home with all cash, or come up with a large 35-50% down payment and find a private/hard [...]

Qualify and Buy a Home Again After a Short Sale in California

Brad Yzermans — Tue, 10 Jan 2012 20:22:49 +0000

Qualifying for a mortgage to buy a home again after a short sale in California is something you should plan for before you short sell your home. In California, the required waiting period or how soon you can buy again after your short sale will depend on the mortgage loan program you qualify for. It’s [...]

FHA 90 Day Flip Waiver Guideline Extended to Dec. 31, 2012

Brad Yzermans — Fri, 23 Dec 2011 19:44:23 +0000

In timely fashion (7 days to expiring), HUD has extended their 90 day flip waiver through December 31, 2012. What’s The Big Hairy Deal? Prior to February 1, 2010, HUD/FHA did not allow a home buyer to use an FHA loan when buying a home from an investor who bought a home, did repairs/renovations, and [...]

2012 VA County Loan Limits in California Reduced!

Brad Yzermans — Wed, 21 Dec 2011 00:34:20 +0000

The 2012 VA loan lending limit in many California high cost counties has been reduced significantly from last year, but still allows for 100% zero down payment home financing. The new high cost county VA loan limit ranges between $417,000 and $625,500 in California when making zero down payment. VA doesn’t actually impose a maximum [...]

Buy a Home Again After Foreclosure in CA – Waiting Periods Explained

Brad Yzermans — Thu, 08 Dec 2011 01:15:27 +0000

Since I’m often asked, “when can I can buy again after foreclosure“, I thought it would be helpful to explain the waiting periods required to buy a home again after foreclosure. How soon you can qualify to buy again after foreclosure can depend on the type of loan program you use to purchase. Why? Because FHA, [...]