Archive for the 'California' Category
New Fixed Rate Mortgages from FHA and HFA
October 19th, 2010
Written by Frost Mortgage
The Federal Housing Administration and HFA have teamed up together to bring new homeowners a new 30 year fixed rate mortgage. This mortgage will have below market interest rates, low down payments as well as other benefits for the first time home buyer. Mr. Stevens Spears said, “Housing finance agencies around the country have historically played an important role in each state’s housing market. With the disruption in the credit markets over the last two years, we have been limited in our ability to help finance home purchases. This new program offers California families another way to purchase their first home with reliable, fixed rate financing.
” First time home buyers may not be the only ones eligible to use this program. The veterans may also be able to use the program under the Heroes Earnings Assistance and Relief Tax Act. This program will give veteran the same opportunity as first time homebuyers. For those that need help with a down payment, there is a California Homebuyer’s Down payment Assistance program. This program will provide either a down payment of three percent or the closing costs.
As with all programs, there are certain requirements that have to be met before one can be eligible for the program. For Example: The first time homebuyer must meet the income limits. Next, the home they are wishing to buy must be within the FHA’s loan limits and HFA’s sale price limits. Credit score requirements must be met as well as the debt to income ratio and last of all the homebuyer must complete the HUD education program. To find out if they are eligible for this program, the homebuyer must go to a HFA lender to apply.
Discussion: No Comments »
California, FHA Offer 4 Percent Loans
September 8th, 2010
Written by Frost Mortgage
Low- and moderate-income first-time buyers in California now can get 30-year fixed loans at discount rates under a new partnership between the California Housing Finance Agency and the FHA. Besides locking in rates at about 4 percent on the loans, which are not to exceed $417,000, qualified borrowers will be able to put down as little as 1 percent.
Inman News (09/08/10)
Discussion: No Comments »
#Albuquerque among MSAs removed from “distressed” list
June 22nd, 2010
Written by Frost Mortgage
Good news for the Duke City: Albuquerque is one of 105 metropolitan statistical areas (MSAs) to be taken off the PMI Distressed Markets List.
As MortgageDaily.com reports (subscription required), the change is part of a spate of positive news:
“Mortgage insurance companies are easing guidelines, increasing loan amounts and eliminating declining market status for many metropolitan areas. The relaxed standards are emerging as the sector is seeing improved conditions.”
Other areas removed from the list included Chicago, Los Angeles, New York City, Boston, Seattle and Washington, D.C.
The Federal Reserve Bank of San Francisco describes Private Mortgage Insurance (PMI) as “extra insurance that lenders require from most homebuyers who obtain loans that are more than 80 percent of their new home’s value. In other words, buyers with less than a 20 percent down payment are normally required to pay PMI.”
Here at Frost, we’re happy to see positive changes in the market that will make it easier for qualified buyers to access this invaluable resource.
If you are looking for a home loan for your next life move, please call us today and let us help you.
Discussion: No Comments »
[Photos] Art show a big success for Frost in Lancaster, CA
June 21st, 2010
Written by Frost Mortgage
Branch Manager Robert Shaffer of Frost Mortgage in Lancaster, California, has held a string of art exhibits that bring the community together. We told you recently that their newest show would feature not only their current in-house artists, but also some of the best high schoolers from around the Antelope Valley.
We’re pleased to present some photos from the event, which was a big success:
-
- Attendees at the Frost Mortgage art show in Lancaster, California.
-
- The most recent art show at Frost Mortgage in Lancaster, California, was a great success.
-
- More attendees at Branch Manager Robert Shaffer’s most recent art exhibit.
-
- The art exhibit at Frost Mortgage in Antelope Valley brought out the community.
-
- Smiles abound at the Frost Mortgage art show in Lancaster, CA.
-
- Art lines the walls at the Frost Mortgage branch of Robert Shaffer.
-
- Food, too, was part of the fun at the Lancaster, California, branch of Frost Mortgage.
-
- Branch Manager Robert Shaffer’s idea for ongoing art exhibits connects the community.
-
- The atmosphere in Lancaster was festive thanks to the Frost Mortgage branch’s planning.
-
- Everyone found something to enjoy at the most recent Frost Mortgage art exhibit in Lancaster.
-
- More of the artwork is visible, as are the happy faces of the Lancaster crowd.
-
- Artists from across Antelope Valley drew crowds to Frost Mortgage’s Lancaster branch.
-
- The Lancaster Frost Mortgage art exhibit put on by Robert Shaffer brought the whole family out.
-
- The Lancaster Branch Manager, Robert Shaffer, created an artistic event for all.
-
- Everyone left a little happier and enriched by the art at the Frost Mortgage show.
-
- Art sparks conversations in Lancaster thanks to the branch’s creativity.
-
- Creativity reminds us what we build good homes for–to foster young people for the next generation.
-
- Lancaster’s selection of seasoned and emerging artists were cause for much conversation.
-
- Robert Shaffer’s community-building spirit put a smile on every face.
-
- What Frost Mortgage’s communities are all about: Families and coming together.
You may also be interested in photos of some of Lancaster’s other events: http://frostmortgage.com/events/#0610Lancaster
Discussion: 1 Comment »
Frost Mortgage: 19 branches and growing
May 5th, 2010
Written by Frost Mortgage
Many people may not realize the full reach of Frost Mortgage’s business operations. As we’ve noted in our ad in National Mortgage Professional, we can tap up to up to $2 billion of monthly warehouse capacity with 48-hour underwriting. So whether you’re a Producing Branch Manager looking for a Branch Partner opportunity or you’re looking to borrow, Frost has what you need.
For both our partners and potential borrowers, the great news is that our geographic reach has grown to national proportions. In addition to our home base of New Mexico (including Albuquerque and in fact the whole state), our Branches are now serving buyers from (click anywhere to find a loan officer in one of these locations) California (both northern California and other areas such as Santa Rosa, Irvine, Laguna Hills, Solana Beach, Santa Ana, Westlake Village and Lancaster), Florida (Miami and Jupiter), on up to Virginia (Winchester) and Maryland (Abingdon and Upper Marlboro), then back to the middle of the country in states such as Texas (Dallas and Lewisville), Ohio (Lancaster), Illinois (St. Charles), Missouri (Ofallon) and Colorado (Greenwood Village). With all these locations, it’s likely we can help you as you look for your next home. What’s more, we’ll respond quickly.
So please, call us today and learn more about why Frost Mortgage doesn’t just close loans–we open doors.
Discussion: No Comments »
Hope for housing in Southern California
April 22nd, 2010
Written by Frost Mortgage
According to the Los Angeles Times, Southern California could be on the verge of a housing recovery:
“The median price paid for a home rose 14% in March to $285,000 from a year earlier, according to MDA DataQuick. Higher-priced coastal markets saw more activity, and fewer foreclosures were for sale.”
Our loan officers and Branch Partners can help you wherever you’re looking for a mortgage in California. Please, give us a call today and learn more about why we don’t just close loans–we open doors.
Discussion: No Comments »
