Tuesday, March 16, 2010

WIN a $100.00 American Express gift card

WIN a $100.00 American Express gift card

Click on this link to open my website & take my survey

American Express Gift Card by Vianey Ojeda

**The winner is chosen at random on the first of every
month. Any surveys filled out on the first of any month will be
automatically entered in to following months drawing. Only one entry per
person will be entered into the monthly drawing. Must be 18 years of age or older to participate

Wednesday, March 3, 2010

REALTOR® Magazine-Daily News-It's Getting Easier to Get a Jumbo Loan

REALTOR® Magazine-Daily News-It's Getting Easier to Get a Jumbo Loan

The jumbo loan market is starting to thaw, making it easier for move-up buyers to borrow.

Rates on jumbo loans of more than $729,750 in highest-priced markets rose during the financial crisis and lending standards tightened to the point where borrowers couldn’t refinance or get a new loan.

In the last couple of weeks, the average interest rate on a 30-year fixed-rate jumbo fell to 5.79 percent, a five-year low, according to rate tracker Informa Research Services. Rates are even lower on hybrid adjustables.

The availability of these loans suggests that banks are feeling more confident since Fannie Mae, Freddie Mac, and the Federal Housing Administration do not insure them.

Source: Los Angeles Times, E. Scott Reckard (02/28/2010)

Thursday, January 28, 2010

Closing Cost Assistance and Appliance Incentive for Fannie Mae Homes

Fannie Mae is offering a 3.5% incentive* for buyers who purchase and close on a Fannie Mae-owned home between January 28 and April 30, 2010. Buyers purchasing properties listed on this site that are closed within this period may receive up to 3.5% of the final sales price for:
  • Closing costs;
  • The purchase of new Whirlpool® appliances by Fannie Mae; or
  • A mix of closing costs and appliances, at the buyer’s discretion, up to the maximum 3.5%.
To be eligible for this incentive:
  • Offers must be accepted on or after January 28, 2010
  • Property sales must close before May 1, 2010
  • Buyers must be owner-occupants, investors are excluded
Contact a Fannie Mae listing broker for more information.
*Lenders may impose their own limitations on the use of the 3.5% incentive, so buyers should consult their lenders for guidance.

Buying a home? Take Advantage of a Federal Income Tax Credit

New legislation was approved which extends the First-Time Homebuyer Credit for homeowners through April 30, 2010 with a 60-day cushion beyond that date to complete closing. The program broadens benefits to existing homeowners and now includes:
  • $8,000 tax credit for first-time homebuyers
  • $6,500 tax credit for existing homebuyers who have lived in their current residence for at least five years but want to relocate to a new primary residence
  • Increased income limits for individuals and couples
For more information about this program please contact me. 

*article courtesy of:  http://www.fanniemae.com/homepath/incentive/index.jhtml

Tuesday, January 26, 2010

Soles for Souls & Sport Chalet

All 55 Sport Chalet stores are now accepting gently worn men's, women's and kids shoes until Sunday, January 31.

All the shoes collected will be sent directly to Soles4Souls for distribution to the Haitian people.


Sport Chalet 
940 S. Grand Ave.
Glendora, CA 91740
Phone: (626) 335-3344
Fax: (626) 963-8464
Monday - Friday: 9:30am - 9:30pm
Saturday: 9:00am - 9:00pm
Sunday: 10:00am - 7:00pm


NEW rules for FHA borrowers

The Federal Housing Administration (FHA) has outlined future changes (eff. Spring & Summer 2010) to the FHA home loan program. The changes first were proposed last month by Secretary of Housing and Urban Development (HUD) Shaun Donovan.
Rising defaults on FHA loans have led to the FHA’s cash reserves falling below federally mandated levels. FHA officials hope that policy changes will ensure borrowers have a stronger equity position and are less likely to default.

Policy changes include:
  • Raising the up-front mortgage insurance premium: The premium will rise to 2.25 percent from its current 1.75 percent. HUD is expected to release a Mortgagee Letter on Jan. 21 making the premium increase effective in the spring.
  • Raising the minimum credit score requirements: New borrowers will be required to have a minimum FICO score of 580 to qualify for the FHA’s 3.5 percent down payment program. New borrowers with less than a 580 FICO score will be required to put down at least 10 percent. FHA expects this to take effect in early summer after it goes through the normal regulatory process.
  • Reduce allowable seller concessions: The agency is lowering the maximum permissible level to 3 percent from its current 6 percent limit. FHA expects this to take effect in early summer after it goes through the normal regulatory process.

*article courtesy of www.CAR.org