J C's (firsthome) Blog

The City of Los Angeles Housing Department (LAHD) has started to offer a purchase assistance financing to eligible low- and moderate- income homebuyers seeking to purchase a foreclosed home in a NSP Priority Area in the City of Los Angeles. The first step should be a buyer to get pre-qualified b...

For all 2nd home and investment property transactions (purchase, r/t, or cash-out), the borrower is required to have: 2 months PITI reserves for a second home purchase 6 months PITI reserves for a non-owner purchase PLUS 2 months PITI for each additional financed property that is a 2nd home or no...

If you are on the fence for locking or not I would hedge myself and lock my loan today due to the volatility coming. Tomorrow is going to be a pretty interesting day. We have the possibility of seeing plenty of volatility in the markets and therefore, mortgage rates also. The first event is the r...

The Mortgage rates rallied today as Mortgage Backed Securities (MBS) saw a strong demand and reprices for the better were seen. I would have to say rates will open better than today, but it is a volatile time and can see a reversal fairly quickly. The rates were seen at about 4.5 with a little ov...

Starting May 1,2009 the mortgage landscape will change. This is for loans sold to Fannie Mae and Freddie Mac not FHA. The new Home Valuation Code of Conduct (HVCC) will be enforced. Effective May 1, appraisals must be ordered by "the lender or any third party specifically authorized by the lender...

Quick warning on Mortgage Rates this week: This week is packed with relevant economic news in addition to another FOMC meeting. All seven of the reports are considered to be at least moderately important while several are considered very important to the markets and mortgage rates. This makes it ...

Hi All I hope everybody is ending April very strong. NAHREP LA and AREAA LA would like to invite everybody to come join us for a good networking event. Here are the details: Feel to contact me for more details. You can also visit us at on the web at NAHREP-LA Website Realtors feel free to explore...

If you can not find your condo on FHA website to see if it is approved then these are the conditions to get a spot approval or contact me to help you out Juan Cepeda on the web CHECKLIST FHA SPOT APPROVAL ON A CONDOMINIUM PROJECT This is the required documentation to review a condominium project ...

There is some speculation that in the very near future, investors will begin to apply fico-based adjustments to FHA pricing. If you have transactions going with lower scores (below 660) I would advise locking them in soon to avoid these hits. If you have clients that have credit scores below 660 ...

Come see me at the NAHREP-LA booth this weekend. I will be there in the Saturday April 18, 2009 morning. The event is the: 2009 HOME BUYER'S FAIR Whether you're a first-time home buyer, or hoping to invest in foreclosures, the Southern California Home Buyer's Fair, sponsored by the Los Angeles Ti...