Category: Blog
Mortgage Rates Edge Back Down to 6-Week Lows
Mortgage rates moved lower for the second day in a row, bringing them back to the same 6-week lows seen on Monday, on average. Some lenders were in slightly better or worse shape compared to Monday, but any discrepancies would only be noticeable in the form of closing costs. That means 4.5% remains the most preva
New mortgage regulations
5 ways buying a house just changedWASHINGTON – Jan. 22, 2014 – New mortgage regulations mandated by the Consumer Financial Protection Bureau went into effect this month. The rules are meant to hold lenders liable for bad loans and protect borrowers from loans they can’t afford. Here are five way
FHA
FHA FHA to FHA refinances with a Loan Modification FHA loans minimum Fico score 580 to $417,000, max DTI 55% follow FHA guidelines FHA Loans 640 score or higher DTI is AUS Approval FHA cash out to 85% with 580 score, follow FHA guidelines FHA High Balance, 580 streamline, 600 Purchase Rate/Term, 620 cash ou
NORTHSTAR FUNDING STANDS APART
NORTHSTAR FUNDING STANDS APART At NORTHSTAR FUNDING we offer products and services that set us apart from the competition. Please see below and click on the link https://www.nshomefunding.com/ NORTHSTAR FUNDING’s Product Highlights:• Minimum 620 fico on Conventional, FHA and VA loans• One fico sc
New Niche Loan Products!
New Niche Loan Products!• Transferred appraisals okay!• Unpermitted additions (even with kitchens)• Follow the AUS FINDINGS… one year tax returns or bank statements, etc…• LP Blended Ratios OKAY• Same low rate for DU and LP• PIW allowed• Freddie Mac Open Access Pro
NORTHSTAR FUNDING accepts CEMA loans
NORTHSTAR FUNDING accepts CEMA loans Instead of paying thousands of dollars in mortgage tax, borrowers can obtain a Consolidation, Extension and Modification Agreement (CEMA loan), in which they only pay mortgage tax on the new loan amount that is above and beyond their current original principal balance. Ex
NORTHSTAR FUNDING No longer requires Full 1040 transcripts on FHA/VA loans
Great news for those tight deals due to un-reimbursed business expenses getting in the way on a W2/1098 borrower. NORTHSTAR FUNDING No longer requires Full 1040 transcripts on FHA/VA loans. if the borrower’s only source of income is as a wage earner, a W-2 transcript may be ordered in lieu
Check Out our Purchase Programs – No mortgage insurance
No mortgage insurance No adjustment to price/rate for vacation or investment properties or loans up to $1,000,000 1st and 2nd combo loans up to $1,500,000 Down payment funds can come from various sources Interest only available Short sale and foreclosure purchase available Escrow Waiver available Qualify with pr
2014 is starting off on the right foot with the arrival of the 80/10/10 Piggyback loan program
2014 is starting off on the right foot with the arrival of the 80/10/10 Piggyback loan program. This program allows buyers to put down 10% and obtain a 1st mortgage for 80% and a second mortgage of 10% which will cover the purchase price. The benefit is the elimination of mortgage insura
Residential Lending Moving Toward Mortgage Brokers
I believe that 2014 will be the year when mortgage broker relevance reemerges and broker-originated mortgage loans reclaim market share—a threshold that signifies that they have once again become a force in the market. Brokers have broad market visibility, the ability to leverage the tremendous power of wor
Exceptional Financing for Foreign Nationals
One of the most foundational services necessary to insure the fluid and effective growth and stability of the real estate market is accessible funding. The ability to find conventional and non- conventional lending for residential, commercial and investment properties is a vital element in sustaining the market a