FHA loan limits have been restored to previous levels.
What this means is that FHA loan limits are now back up to $729,750 in Santa Barbara, Ventura and Los Angeles Counties. (NOTE: Freddie Mac and Fannie Mae levels were not raised, and remain at $625,500 for the three counties.)
The impact of this change in our coun... Read more
Mortgages: 15 years vs 30 years
With all the options available today, choosing between mortgages can be overwhelming - the best strategy is to inform yourself, and doing so can be a process. To begin, let’s look at a comparison between two popular mortgage terms: a 15-year mortgage and a 30-year mortgage.
Choosing a 15-year mortgage offers many benefit... Read more
Homeownership success story
This article is the second in a series featuring the CalSTRS program. The CalSTRS home loan is specifically designed to enable teachers and education employees to buy homes using safe, suitable home financing. This is a true story of a middle-income family here in Santa Barbara County who successfully bought a home within their ... Read more
State's housing finance group makes two updates for consumers
The California Housing Finance Agency (CalHFA) recently released two significant updates.
First, the agency will receive nearly $3.2 million to provide counseling to homeowners struggling to avoid foreclosure from a new federal grant; and second, CalHFA updated income limits for new and existing homes for first-time homebuyers... Read more
Veterans' loans deserve top consideration
It is time to change the stereotype about VA home loans being problematic.
I would love to help my community and the public at large to understand the merits of giving high priority to offers from Veterans using the VA loan.
VA loans are offered through the Department of Veterans Affairs. There is an outdated stigma associat... Read more
Loan options for educators
This article is the first of a series featuring loan programs specifically designed to enable families and individuals to buy homes using little-known programs that often are the best home financing available. The next two parts include "Homeowner Success Stories, true stories of middle-income families here in Santa Barbara Coun... Read more
Mortgage Types - A Comparison of the 15 Year Mortgage and the 30 Year Mortgage
Choosing the type of mortgage that is best for you is a difficult feat. With all the options available today, the task can seem overwhelming. Here is a comparison of two very popular loan types: the 15 year mortgage and the 30 year mortgage. I hope this information will be educational and valuable to you and your future mortgage... Read more
Mortgage Update - How the FED Influences Mortgage Rates and What it Means for Consumers
After spiking earlier this year, mortgage interest rates are now near record lows, with 30-year mortgages just above 4 percent and 15 year loans just below 4 percent. These rates are almost back to our all-time record low rates seen in October 2010.
The Federal Reserve is playing a major role in the decrease of mortgage inte... Read more
Mortgage Update - Now is the time to Refinance or Buy
When the housing market peaked back in 2006, the prospect of a five-year national housing bust seemed unimaginable to most people. and yet here we are, with recent financial reports showing that prices have hit new bear-market lows, falling back to 2002 levels nationally. Despite all the gloom surrounding the housing market toda... Read more
Introducing: CHF Platinum Down Payment Assistance Program
Broadview mortgage is proud to announce that the CHF Platinum Down Payment Assistance Program is now available. The CHF Platinum Grant Program will give a California home buyer 3% of the loan amount to help with the down payment and/or closing costs. at this time, the program is perpetually funded with no pre-determined limit to... Read more