Strategic Mortgage - Bill Kamboukos

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Mortgage and Lending - Strategic Mortgage - NMLS#160440
            VA home loans have never had hard loan limits like Conventional or FHA loans. Rather they have mirrored Conventional Loan Limits, with anything over the Conventional Loan Limit ($510,400 currently), requiring a down payment. However, those down payment requirements are now removed for...
           FHA home loan limits are once again increasing for HUD insured FHA mortgages. The new loan limits are $331,760, up from the current limit of $314,287.             What this means is that for someone looking to purchase a home with the 3.5% minimum down payment, using an FHA loan, can n...
Conventional home loan limits are once again increasing for Fannie Mae and Freddie Mac backed conventional mortgages. The new loan limits are $510,400, up from the current limit of $484,350.                        This is great news for many buyers, as it provides additional purchasing power for ...
When qualifying for a home loan, if you are a salaried or hourly employee, who receives pay stubs and W-2’s, the process is quite simple.  You provide your pay stubs to a lender, they quickly compute your monthly earnings, look at your monthly debts and tell you how much you can qualify for. Howe...
Like it or not, your credit score does matter. Whether it comes to obtaining a new home loan, getting a new credit card, auto loan, cell phone, utility bill or even a job, your credit score could be a determining factor.  For that reason, it makes sense to do everything possible, to make sure you...
If you want to obtain a conventional home loan, but have limited or no income, but do have a large amount of assets, you may be able to qualify via an asset depletion loan. This program makes sense for someone who may be retired and living off a small pension or social security or other benefit, ...
             With home value continuing to appreciate, many homeowners now have a multitude of home equity in their current homes. This has opened up the opportunity for consumers to complete cash out refinances. A cash out refinance can be used to not only receive cash back in hand, but also use...
Any loan that exceeds the conventional loan limit, is considered to be a Jumbo home loan. Here in the Phoenix metropolitan area, we are not considered a “high cost” metropolitan area and so the conventional loan limit is $484,350. That means if you want to take out a loan above that limit, no mat...
            When looking for a new home mortgage loan, often times the first question a consumer has is, what will my interest rate be? The answer to that question always is, it depends on a number of factors. In this article, we will discuss some of the factors which impact your interest rate.Fa...
            One of the most common questions asked, is how much of a down payment is needed to purchase a home? The answer as with most anything in life, is it depends. You can purchase a home with no down payment (VA loans) or with a 3% down payment (some VA loans), or you may need a 15% down pa...

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