Elite Equity recently closed a purchase loan for a client who couldn’t qualify for conventional financing. Borrower had credit issues that wouldn’t allow him to attain any type of Fannie/Freddie type loan. The clients have since moved into their new home and couldn’t be happier!
Home Owners have been asking this since 2012 when our economy was in recovery mode. The quick answer, not much longer. Interest rates are at historical lows
If you own a home and are looking to either sell or refinance, you are in a very good position. If you’re considering selling your home, it’s no secret that Los Angeles Real Estate has always been and will continue to be a hot commodity. If your house is priced right and shows well – you will definitely attract a lot of attention and sell your home quickly.
HARP is an acronym which stands for the “Home Affordable Refinance Program.” The program was created in order to let borrowers, who got into a home prior to the housing crisis, refinance their mortgage despite the fact that their home value has decreased since they gained ownership.
Unfortunately, the program didn’t live up to expectations…. of the 5 million homeowners it was expected to help – less than 1/10th of this number actually took advantage – primarily due to appraisal values.
Mortgage Brokers work as the “middle men” between the borrower and the bank securing wholesale rates for their clients. They typically get paid by the wholesale banks (also known as a “Rebate” or “Yield Spread Premium”), depending on what kind of rate they secure for the borrower.