Orange County FHA, VA, Conventional Mortgage Blog

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Mortgage and Lending - Fairway Independent Mortgage Corporation - NMLS #223456
RECENT BLOG POSTS
The VA loan program is being heavily utilized by Orange County residents for the first time in several years. There are several reasons for this. The increase in the Orange County, CA VA loan limit for $0 Down financing to $593,750 in 2010. The drop in property values in Orange County, CA. (And t...
08/15/2009
Orange County homebuyers planning on purchasing a condominium using FHA financing have always needed to make sure the condo project they are looking to buy is in an FHA Approved project. Buyers and Realtors can quickly determine whether a project is approved by visiting the HUD website and typing...
07/03/2009
The first thing an Orange County First Time Home Buyershould do is get PreApproved for an FHA loan. (If you are eligible for $0 down VA, then PreApproved for a VA loan.) Too many times new home buyers, even move up home buyers, begin the home buying process by looking for homes and then even maki...
06/28/2009
In Orange County, homebuyers are finding out how quickly interest rates can go up. After several bad days for Mortgage Backed Securities, FHA interest rates have increased anywhere from .5% to 1% just in the last 10 days. Interest rates had dipped as low at 4.5% for FHA loans under $417,000 and 5...
06/09/2009
Orange County FHA loan limits are higher in 2009 than they have ever been, allowing for home buyers to purchase "high priced" homes with only 3.5% down payment. Just last year, at the beginning of 2008, the highest the Orange County FHA limit had ever been was $362,790. In mid 2008 the limit was ...
05/23/2009
FHA financing has become the primary way to finance the purchase of a home when the buyer has less than 20% for down payment. Why is this? And who should get an FHA loan? There are numerous reasons, but below are some of the primary advantages that FHA financing has versus Conventional (Fannie/Fr...
03/21/2009
It really is not that difficult to close an FHA loanas quickly as any other type of loan. But here are the steps that need to be followed in order to meet the time lines required on a purchase transaction.Day 1- Take the loan application, run credit, get the Automated Credit Approval, request pay...
02/16/2009
In Orange County, CA the 2009 loan limits are $625,500 for an FHA mortgage. This is a big increase from the low limits FHA used to have in Orange County. Until March of 2008, when FHA implemented a temporary increase for the remainder of 2008, the maximum FHA loan was only $362,790.A $625,500 loa...
01/15/2009
Just when it seemed there were already plenty of good reasons to choose an FHA mortgage when you buy your home, here comes another reason. The FHA Streamline Refinance program has actually been around for years, but since about 2001 is hasn't been utilized very often. This program is an easy way ...
12/14/2008
A week ago, the Treasury announced that they had a target mortgage rate in mind of 4.5%.  Mortgage rates are already very low, as evidenced by a sudden increase in refinance activity. Orange County cities such as Irvine, Tustin, Orange and Newport Beach are seeing a big rise in refinances, helped...
12/14/2008
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Tim Storm

Orange County FHA and VA Home Loan Specialist
local_phone949-640-3102
business949-272-2363
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