What is a Non-QM Mortgage?

Non-qualified mortgages (often referred to as non-QM loans) are products are designed to potentially accommodate specific categories of “non-traditional” home loan borrowers. Here is some background on how non-QM mortgages entered the scene, and information on how many non-QM loans are structured. How Non-QM Mortgage Began When certain regulations were implemented in response to

GSFA Platinum Program: New Income Limits

Effective immediately, the income limits for the GSFA Platinum program have been updated. The GSFA Platinum gift program provides down payment assistance to low and moderate-income homebuyers in California. Therefore, the program has income limits (based on the location of the property). The new income limits for the GSFA Platinum program in Southern California are

HUD Announcement: FHA to Stop Insuring PACE (HERO) Loans

On December 7, 2017, the Department of Housing and Urban Development (HUD) announced that the Federal Housing Administration (FHA) will stop insuring mortgages on homes that also carry Property Assessed Clean Energy program (PACE) liens. In California, PACE liens are commonly marketed as the HERO program as a way for homeowners to finance solar

Why Would a Home Loan Fall Through?

When a home loan transaction falls apart, it results in disappointment for the borrower, wasted time for the lender and frustration for the seller of the property. So, why would it happen? Here are some things that could cause a home loan to fall through. Reason #1: Underwriting Errors A

Waiting Period after Bankruptcy, Short Sale and Foreclosure

For those who have previously owned a home and are hoping to re-enter the market, timing is everything. One of the most common questions that home loan professionals receive is in regards to the timelines that must be followed after derogatory credit events like foreclosure, short sale and bankruptcy. With that in mind, here

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Is There a Zero Down Program Alternative?

From time to time, we are asked if there are still any "no money down" home loan programs available to borrowers. The answer is this: There are two, the VA loan and the USDA loan. If you are a current or former member of the military, you may wish to apply for a VA

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Big News on New Loan Limits

The new year is bringing some big news for home buyers, specifically buyers who are borrowing with a Federal Housing Administration (FHA) or conventional loan. We want to tell you about these new loan limits and encourage you to find out if they may benefit you on your next home purchase or refinance. New FHA

Types and Purposes of VA Loans

The VA loan program allows veterans to purchase a home with no money down and no private mortgage insurance; in some cases, it may be easier to qualify for than a conventional or FHA loan. But have we explained that there are different types of VA loans, each designed for different purposes? (Disclaimer: Wholesale Capital