Real Estate Blog LA

Today's Suggested Purchase Contract Rates for a 30 Year Fixed Rate Mortgage $417,000, Down Payment 3%, Interest Rate 6.250%, Points 1 $417,000, Down Payment 10%, Interest Rate 5.875%, Points 1 $417,000, Down Payment 20%, Interest Rate 5.875%, Points 1 $729,750, Down Payment 3%, Interest Rate 7.000%, Points 1 $729,750, Down Paymeny 10%, ...

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 way to compare rates is to speak with lenders you were referred to and can trust.  TR:Will ...

Interest rates remain low for Multifamily permanent loans. Spreads for Fannie Mae financing have for the most part held steady. For Freddie Mac financing, spreads have fluctuated more, but they have done so within a narrow range. Where spreads have widened, they have been countered by lower Treasury rates with the result that interest rates are ...

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 in part by backing all sorts of risky products such as no-money-down, interest-only loans that required no proof of income. In contrast, the FHA, an arm of the U.S. Department of ...

"A" Paper Borrowers are learning the benefit of going with an FHA loan. The down payment requirement is only 3.5% (as of Oct. 1, 2008) and the Maximum loan for a Single Family Home in Los Angeles, CA is $729,500. This amount allows a good choice in homes here in Southern California. Also, now there are no income restrictions for this ...

This week, President Bush signed the "Housing and Economic Recovery Act of 2008" into law. This $300 Billion rescue plan is aimed at helping struggling homeowners avoid foreclosure, as well as boost confidence in the housing market. Although the bill is several hundred pages long and contains a number of far-reaching provisions, here are ...

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 me. My readers really appreciate any clarity you can provide in these changing times. DEAN:It ...