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08 October 2011
Mortgage Lenders have stricter Rules to loan money for home purchase
Mortgages: Stricter Rules Mortgage lenders want to make loans now, and they may even bid against one another for your business. But lending standards remain tight, and you must be prepared to produce a mound of paperwork to document your income and assets. Read More...
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01 March 2010
(New Law):Buyers:Please get a Good Faith Estimate (GFE) from your lender...for your protection
*At the bottom of this post is a Sample GFE in PDF . If you plan to take out a mortgage or refinance any time soon, you might want to hear this blunt message from federal officials: Don't fly blind. When you're shopping among competing lenders Read More...
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Attachment(s):Fillable GFE.pdf
24 February 2010
Loan Products are still abundant...even for Self-Employed!!
Here is a list of the LOAN programs that are still available. Even if you are Self Employed!! - Stated Income Verified Assets- UP TO 60% LTV (Self Employed Only) - Verification Of Employment ONLY (VOE - NO INCOME, NO 4506T) - UP TO 80% LTV (Wage Earner Read More...
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31 July 2009
Lender Questions-My Interview with Dean Wong at First Capital Mortgage
It is with great pleasure to post my Interview with one of my favorite Lenders Dean Wong at First Capital Mortgage. (His contact is at the end of my post). Tom: Hello Dean. How are you doing? Dean: Great Tom Tom: 1).I have heard that there are some changes Read More...
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26 September 2008
Lender Interview w/Dean Wong-Part II
My Lender Dean Wong and I sat down for Part II of our Interview on Finance 101: Thomas Ray : How are interest rates figured and how do I compare lender rates? Dean Wong :Rates are determined by the overall economy and supply and demand of money. Best Read More...
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25 September 2008
What is an FHA loan and why are they HOT???
11/24/2008 FHA Update: -Down payment is now 3.5% (was 3%) -Minimum FICO score is 580 The FHA was created in the ashes of the Great Depression to boost home buying, but over the years its influence waned. Fannie Mae and Freddie Mac took over market share Read More...
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16 September 2008
Best time to buy in 35 years..Rates are low!
Money is "Dirt cheap". 5.75% on 30-yr with 0 points.. Per my Lender Dean Wong. Contact Dean Wong Thomas Ray-310-420-1149 www.LAexclusiveProperty.com www.RealEstateBlogLA.com Read More...
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17 July 2008
Focus on the Lender: An Interview w/Dean Wong - First Cap. Mortgage
In an effort to find solutions for my Buyers, I took the time to interview Dean Wong at First Capital Mortgage . I have known Dean for 5 years and have worked with him on many transactions. TOM :First of all Dean, thank you for taking time to chat with Read More...
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