I’m often asked how quickly I can close a loan. Right now the market is so competitive that in order for a buyer to get their offer accepted, they have to somehow sweeten the deal. What better way to sweeten the deal but to pay the seller as quickly as possible? It is important to note though, that a transaction has its organic flow to it, so no … [Read more...]
San Diego FHA Loan Requirements
San Diego FHA Loan qualifications are the same nationwide, meaning that no matter where you are in the United States, you will need to meet the same FHA loan requirement criteria. In order to qualify for a FHA home loan you must have the following: Credit Income Assets There are ways of getting around some of these loan … [Read more...]
What Is A Direct Mortgage Lender?
Welcome to the Mortgage Minute with Maureen Martin! I am sometimes asked what the difference is between an FHA direct and non-direct lender. A direct lender is a lender that is able to loan their own funds to close the loan (that doesn't mean that they will service them, but they will loan their own money). Whereas a broker puts their name on the … [Read more...]
Are FHA Loan Rates in San Diego County Different?
Oftentimes I am asked if FHA interest rates are different in San Diego County. FHA loan rates in San Diego should be no different than anywhere in the country - although each lender has a different profit margin, which will determine the different rates for the different lenders. The region should not dictate the mortgage loan rates. However, with … [Read more...]
What Is An FHA Approved Lender?
Oftentimes I am asked if all lenders can originate FHA loans. The answer is NO. It's important to ask your FHA loan originator if they can originate FHA loans; some lenders do not have this ability and you will need to get your paperwork/financing done in various places if this is the case. To make the process more streamlined and easy you should … [Read more...]
San Diego FHA Loan Tips
Hi there! This is Maureen Martin with another mortgage minute. Just wanted to let you know a couple of tips with regard to FHA financing: 1) FHA loans are not necessarily for first time homeowners or first time homebuyers. Anyone can take advantage of the benefits of FHA financing. There are certain guidelines and requirements 2) Leniency in … [Read more...]
Paying Property Taxes…
I've been getting several calls over the past week from clients curious whether or not their taxes were impounded in their loan because they just received a tax bill from the county assessors office. I thought that it would be a good idea to send out an email breaking down how it all works. :) Here's what you need to know: Your first installment … [Read more...]
The Importance of a Living Trust
You've got the home. You've got the mortgage. You've got homeowner's insurance. Now that you're a homeowner, it's time to protect what may be your largest investment. A living trust is an essential legal document that you create to hold title your home-- and perhaps other assets as well. Living trusts avoid costly, time-consuming probate of … [Read more...]
1st Time Home Buyer Program
Are you a first time home buyer? I love first time home buyers because I understand just how stressful the home buying process can be. Not only are you moving into a new home, which is at the top of the stress charts, but you’re actually purchasing something for the most money you’ve ever spent and you’re wondering how does all of this work? I … [Read more...]
Waltz Needs a New Forever Home. Can It Be Yours?
My daily job is to help people get into their new homes. My volunteer job is fostering dogs from http://secondchancedogrescue.org/ while helping them find their forever home. My latest dog in search of his much deserved forever family is: “Waltz” I’ve named him Windell and call him Windy for short, he seems to respond! :) About 5 years old … [Read more...]
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