Spring is here which means that the first quarter of 2017 is now done. Let's take a look at what we have experienced.
Hot Loan Program Updates
Bad news
The San Diego Housing Commission announced that the maximum sales price of properties eligible for down payment assistance n San Diego County would be $418,000. Attached and detached properties will be subject to the new limit and became effective March 1, 2017.
Good news
Golden State Homeownership grant increased their maximum debt to income ratio for those using conventional financing. This will open up many more possibilities to those who would like to use the grant to cover closing costs and or down payment.
VA loans will no longer require that qualifying income be reduced by the amount of job expenses written off on the borrower's tax returns IF commission income is less than 25% of the total qualifying income
Social Media: A few posts you might enjoy
Ready to start the homebuying process?
BROUGHT TO YOU BYl
Services we provide:
- Purchase loans - Conventional, VA, FHA, USDA and Jumbo
- Refinance for rate reduction
- Cash out refinances
Content and Information is for informational purposes only and is deemed accurate and reliable as of the date of production but not guaranteed. Laura Borja (NMLS#199107) and Mann Mortgage, LLC, are not endorsed by, nor acting on behalf of or at the direction of Fannie Mae, Freddie Mac, HUD, FHA, VA, USDA or any government agency. All programs are subject to credit, income and all guideline qualification and eligibility. This is not a guarantee of financing or a firm offer of credit. Mann Mortgage is licensed by the California Dept. of Business Oversight under the California Residential Mortgage Lending Act #813K741. NMLS#2550
Credits:
Created with images by emily @ go haus go - "livingroom" • myguys.nova - "House For Sale, Real Estate SOLD sign"