brad y. posted an article on The Mortgage Coach Report - Jan 26, 2012, 4:54 am
With President Obama’s recent changes to the Home Affordable Refinance Program (HARP) t0 help more people refinance into a lower interest rate, it’s unfortunate many mortgage lenders/brokers in California choose NOT to offer the new HARP refinance DU Refi Plus or the Relief Refinance-Open Access...
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brad y. posted an article on The Mortgage Coach Report - Jan 20, 2012, 4:36 pm
To qualify for a mortgage and buy again soon after a foreclosure, short sale, or bankruptcy, you will need an acceptable extenuating circumstance.  If you don’t have an acceptable extenuating circumstance, you need to either wait-it-out, purchase a home with all cash, or come up with a large 35-5...
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brad y. posted an article on The Mortgage Coach Report - Jan 10, 2012, 3:22 pm
Qualifying for a mortgage to buy a home again after a short sale in California is something you should plan for before you short sell your home.  In California, the required waiting period or how soon you can buy again after your short sale will depend on the mortgage loan program you qualify for. ...
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brad y. posted an article on The Mortgage Coach Report - Dec 23, 2011, 2:44 pm
In timely fashion (7 days to expiring), HUD has extended their 90 day flip waiver  through December 31, 2012. What’s The Big Hairy Deal?  Prior to February 1, 2010, HUD/FHA did not allow a home buyer to use an FHA loan when buying a home from an investor who bought a home, did repairs/renovation...
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brad y. posted an article on The Mortgage Coach Report - Dec 20, 2011, 7:34 pm
The 2012 VA loan lending limit in many California high cost counties has been reduced significantly from last year, but still allows for 100% zero down payment home financing.  The new high cost county VA loan limit ranges between $417,000 and $625,500 in California when making zero down payment. ...
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brad y. posted an article on The Mortgage Coach Report - Dec 7, 2011, 8:15 pm
Since I’m often asked, “when can I can buy again after foreclosure“, I thought it would be helpful to explain the waiting periods required to buy a home again after foreclosure. How soon you can qualify to buy again after foreclosure can depend on the type of loan program you use to purchase....
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brad y. posted an article on The Mortgage Coach Report - Nov 23, 2011, 1:02 am
The VA Guaranteed loan funding fee has changed once again for Active Duty, Veterans, Reservists, and National Guardsman who are buying a home in California.  In what could be one of the most confusing back and forth guideline changes since the housing crash of 2008, the Dept. of Veterans Affairs an...
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brad y. posted an article on The Mortgage Coach Report - Nov 20, 2011, 1:48 am
The FHA conforming / jumbo loan limit in Riverside County, California was just restored back to $500,000.  Many believe this action was critical in helping the Inland Empire housing market rebound to help more home buyers qualify for FHA’s low interest rate & low down payment mortgage programs. Y...
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brad y. posted an article on The Mortgage Coach Report - Nov 17, 2011, 11:08 pm
Congress agreed to restore, reinstate and extend the jumbo / conforming FHA loan limits to $729,750 for 2012 and 2013 after seeing the negative impact the October 1st loan limit reduction had on the certain high cost housing markets.  Restoring the FHA loan limit is considered essential to stabiliz...
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brad y. posted an article on The Mortgage Coach Report - Nov 6, 2011, 4:28 pm
The new HARP government upside down/underwater mortgage refinance program will help some home owners in the Corona, Chino, Riverside, Canyon Lake, Moreno Valley, Lake Elsinore who want to keep their home and lower their interest rate and mortgage payment. What is HARP?  It’s an instrument, but in...
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brad y. posted an article on The Mortgage Coach Report - Oct 28, 2011, 4:56 am
It just got easier to refinance an upside down or underwater mortgage in Temecula, Murrieta or Menifee using the revised Home Affordable Refinance Program (HARP). The Federal Housing Finance Agency (FHFA) just announced October 24th that there is no longer an LTV limit to refinance an upside down mo...
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brad y. posted an article on The Mortgage Coach Report - Oct 21, 2011, 5:07 am
Would you consider safety to be a major factor when deciding where to relocate or live when buying a home in California?  For those of us familiar with, or already living in the Temecula and Murrieta Valley region of Riverside County, we sometimes forget how good this little part of the world reall...
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brad y. posted an article on The Mortgage Coach Report - Oct 14, 2011, 9:00 am
Wednesday, the Federal Reserve released the minutes from its 2-day meeting September 20-21, 2011. The release shows a divided Fed in disagreement about the current U.S. monetary policy. The group reached compromise for new economic stimulus, however, and maintained its commitment to accommodative i...
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brad y. posted an article on The Mortgage Coach Report - Oct 1, 2011, 8:06 pm
USDA issued a lender notice stating the USDA Rural Housing Single Family Housing Guaranteed Loan Program (SFHGLP) is temporarily out of funds as of October 1, 2011.  Even though USDA is still issuing ‘conditional commitments’ subject to the availability of the commitment authority, many lenders...
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brad y. posted an article on The Mortgage Coach Report - Sep 27, 2011, 8:17 pm
Is Bank of America no longer issuing USDA Rural home loan approvals in California?  Did Bank of America discontinue all 100% financing mortgage programs in California? I’ve been asked these two questions several times recently from real estate agents and prospective home buyers wanting to purchas...
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brad y. posted an article on The Mortgage Coach Report - Sep 23, 2011, 12:21 am
The VA home loan funding fee/costs for California Veterans (Active Duty, Reserves and National Guard too) is being reduced starting October 1st, 2011.  Both first time and subsequent home buyers who qualify for a California VA home mortgage will benefit from the new Restoring GI Bill Fairness Act o...
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brad y. posted an article on The Mortgage Coach Report - Sep 7, 2011, 3:07 pm
Just because you can make a down payment, doesn’t mean you should, right?  That is why every home buyer in California should see if it makes more sense to buy a home with a low or no down payment loan program before they actually start their home search.  Why?  Two Primary Reasons: Saving for ...
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brad y. posted an article on The Mortgage Coach Report - Aug 29, 2011, 9:01 am
Mortgage rates last week for California home owners and home buyers proved to be another volatile week. Wall Street alternately sought risk and shunned it, causing mortgage-backed bonds to rise and fall rapidly. There was a lot to move markets, too, including banking concerns across Europe, inflatio...
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brad y. posted an article on The Mortgage Coach Report - Aug 27, 2011, 1:21 pm
Did you know that buying a home after bankruptcy in California requires a waiting period before qualifying for an FHA, VA, USDA, or Conventional mortgage program?  And, how soon you can purchase after the bankruptcy (the length of the waiting period) depends on what type of home mortgage loan you p...
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brad y. posted an article on The Mortgage Coach Report - Aug 15, 2011, 8:51 am
California mortgage interest rates improved again last week. The combination of global economic uncertainty plus a dour outlook from the Federal Reserve pushed mortgage bonds to highs for 2011, and drove mortgage rates below their all-time lows. Bonds were volatile, driven by the stock market’s gy...
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brad y. posted an article on The Mortgage Coach Report - Aug 3, 2011, 8:54 am
The July jobs report will be released tomorrow.  Do you have a rate lock strategy in place or willing to miss an opportunity to lock in a crazy low mortgage rate? At 8:30 AM ET Friday, the Bureau of Labor Statistics will release the July 2011 Non-Farm Payrolls report. Mark it in your calendar. If
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brad y. posted an article on The Mortgage Coach Report - Jul 26, 2011, 8:53 am
A common question home buyers in California ask me is if an FHA loan is better than a Conventional loan.  The increase in popularity between the two loan programs may be an indicator as to which is better.  FHA now insures 25% of all home mortgage loans in the United States, which is the highest
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brad y. posted an article on The Mortgage Coach Report - Jul 25, 2011, 8:53 am
Mortgage markets in California’s Inland Empire Region worsened last week as the Greek sovereign debt situation came closer to final resolution, and as the U.S. housing market showed signs of life. After many weeks, European leaders agreed on a financial package for Greece that featured favorable l...
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brad y. posted an article on The Mortgage Coach Report - Jul 23, 2011, 2:50 am
One of the more common questions I’m asked in the mortgage prequal or pre-approval process is ‘What Rate Do I Qualify For?’  My answer often confuses people when I respond by saying, “You don’t qualify for a rate, you choose the interest rate you want.” This isn’t auto financing where...
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brad y. posted an article on The Mortgage Coach Report - Jul 18, 2011, 8:52 am
Mortgage rates in Temecula, Murrieta, Menifee, Corona, Riverside and Moreno Valley area of California’s Inland Empire worsened last week as concerns for the global economy drove investors to “safe haven” buying. Fear continues to dominate mortgage bond market movement.  Home buyers who work w...
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brad y. posted an article on The Mortgage Coach Report - Jul 12, 2011, 8:54 am

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brad y. posted an article on The Mortgage Coach Report - Jul 10, 2011, 8:13 pm
Prior to starting your home search and qualifying for a home mortgage loan, it’s important you know the difference between a mortgage prequal, pre-approval and a conditional loan approval.  Many people, even lenders and real estate agents, wrongly use the terms interchangeably.  What’s the dif...
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brad y. posted an article on The Mortgage Coach Report - Jul 6, 2011, 2:14 pm
Freddie Mac is offering a 3.5% closing cost assistance incentive to home buyers who purchase a HomeSteps home in California.  Combine this with a low down payment FHA loan, or even with down payment assistance, and buying a home is possible for almost anyone!  You do not have to be a first time ho...
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brad y. posted an article on The Mortgage Coach Report - Jul 5, 2011, 8:55 am
Mortgage markets in California worsened last week as Wall Street’s renewed optimism pushed equities to their best one-week gain in 2 years. The change in  sentiment was bad news for home buyers sensitive to interest rates when investors pored into stocks at the expense of bonds (mortgage debt). L...
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brad y. posted an article on The Mortgage Coach Report - Jun 28, 2011, 7:50 pm
FPF is a Riverside mortgage company helping home buyers qualify for a Riverside FHA, VA, HomePath, Conventional, USDA, or Riverside Down Payment Assistance home loan.   The flexibility of being both a Riverside, CA mortgage broker & Riverside direct lender bank gives home buyers the ability to avo...
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brad y. posted an article on The Mortgage Coach Report - Jun 27, 2011, 1:40 pm
Looking for a place to watch 4th of July fireworks in Corona, Chino, Riverside, Mira Loma/Jurupa Valley, or the Moreno Valley area? See below. Corona 4th of July Celebration, Fireworks & Family Fun Festival When: July4th      4-10 p.m. Where: Santana Park – 598 Santana Way (parking at Crossro...
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brad y. posted an article on The Mortgage Coach Report - Jun 27, 2011, 8:57 am
Mortgage rates in California improved again last week on a revised economic outlook for the U.S. economy, and ongoing concerns about Greece and its sovereign debt. Conforming mortgage rates in Temecula, Corona and Riverside fell last week and now hover near the all-time lows set last November. Adjus...
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brad y. posted an article on The Mortgage Coach Report - Jun 26, 2011, 5:35 pm
Here is a list of 4th of July firework shows (Independence day)  in the S.W. Riverside County area of Temecula, Murrieta, Menifee, Lake Elsinore & Perris.  If you know of additional firework shows in the area, please contact me so I can share with others.   Temecula 4th of July Extravaganza When...
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brad y. posted an article on The Mortgage Coach Report - Jun 21, 2011, 9:27 pm
Did you know that Corona home buyers can still purchase a home with zero ($0)  down payment (100% financing).  And to make the deal even better, there is no monthly mortgage insurance required on the loan!   WHAT?  Yesireeee……and you don’t have to be a first time home buyer! In fact, the ...
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brad y. posted an article on The Mortgage Coach Report - Jun 20, 2011, 8:56 am
The California mortgage rate market improved last week as Wall Street managed news on both sides of the economic coin. There were several instances of higher-than-expected inflation — an event that tends to lead rates higher — but weak domestic jobs data and a soft manufacturing report suppresse...
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brad y. posted an article on The Mortgage Coach Report - Jun 14, 2011, 2:52 pm
FPF is a Corona, CA Mortgage Broker/Lender and Mortgage Bank offering Corona FHA, VA, USDA, HomePath, Conventional, and Corona Down Payment Assistance home loans.   The flexibility of being both a bank and broker gives home buyers more loan options, ability to close faster, fewer qualifying restri...
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brad y. posted an article on The Mortgage Coach Report - Jun 10, 2011, 8:04 pm
When applying for a government insured mortgage, like an FHA, VA, or USDA loan, home buyers in California are often shocked to hear their non-purchasing/non-borrowing spouse’s debts will count against them.  Why are they shocked? Because they didn’t know about this in advance…..I know, that w...
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brad y. posted an article on The Mortgage Coach Report - Jun 8, 2011, 8:53 am
If you are a home buyer or home owner in a traditional high-cost area of California, like Riverside, San Bernardino, San Diego, Orange, or Los Angeles county, October 1st could be a very bad day for you.  Starting October 1, 2011, temporary conforming and FHA insurable loan limits will be lowered n...
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brad y. posted an article on The Mortgage Coach Report - Jun 6, 2011, 8:53 am
Mortgage rates in California improved early last week as a result of worries about Eurozone sovereign debt default and the U.S. employment report showed the economy’s rebound to be moving slower than originally anticipated. In Greece, the nation readied itself for its second bailout in two years. ...
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brad y. posted an article on The Mortgage Coach Report - May 29, 2011, 7:24 pm
With our elected officials proposal to increase the FHA down payment requirement to 5%, and FHA wanting to increase the monthly mortgage insurance premium to 1.5%, every prospective home buyer should be asking themselves is now a good time to buy and how would these increases affect me?   Prospecti...
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brad y. posted an article on The Mortgage Coach Report - Apr 29, 2011, 8:53 am
The National Association of REALTORS® Pending Home Sales Index rose for the third straight month last month.
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brad y. posted an article on The Mortgage Coach Report - Apr 18, 2011, 12:22 am
First Priority Financial is both a licensed Temecula Mortgage Broker and Direct Lender Bank offering Temecula FHA, VA, USDA, HomePath, Conventional, and down payment assistance home loans.   Being both a Temecula mortgage broker and direct lender bank gives home buyers more loan options, fewer qua...
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brad y. posted an article on The Mortgage Coach Report - Apr 14, 2011, 8:58 am
Inflation pressures are rising in the United States, especially California.  The Consumer Price Index will come out Friday to support what we all know.  How will it impact mortgage rates and home affordability in California? More commonly called “The Cost of Living Index”, CPI measures cost ch...
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brad y. posted an article on The Mortgage Coach Report - Apr 12, 2011, 1:02 pm
Fannie Mae HomePath just announced a special 3.5% closing cost assistance program for Inland Empire California home buyers who purchase a Fannie Mae foreclosure REO bank owned home.  The limited 3.5% incentive requires buyers submit request with initial offer after June 14, 2011, and must close esc...
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brad y. posted an article on The Mortgage Coach Report - Mar 8, 2011, 12:28 pm
Did you know that disputing an error on your FICO credit report can actually get your home loan denied?  And didn’t your lender and/or ‘credit repair’ guru tell you to dispute all the derogatory accounts in your credit report in hopes of increasing your FICO credit score? Fannie Mae and Fredd...
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brad y. posted an article on The Mortgage Coach Report - Mar 7, 2011, 8:52 am
For certain members of the military, there’s just 2 months remaining to receive the $8,000 the federal home buyer tax credit.  Combine this with the VA home loan 100% financing no down payment program, and there will be some very happy Camp Pendleton Marines buying homes in Temecula, Murrieta, Me...
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brad y. posted an article on The Mortgage Coach Report - Mar 4, 2011, 8:52 am
Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points.
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brad y. posted an article on The Mortgage Coach Report - Mar 3, 2011, 4:16 pm
In a surprising announcement, the USDA Guaranteed Rural Development Home Loan Program announced starting October 1st, 2011, they will begin collecting (charging) monthly mortgage insurance of .3%, but their up front mortgage insurance will be reduced from 3.5% to 2%. If you are unfamiliar with the n...
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brad y. posted an article on The Mortgage Coach Report - Feb 9, 2011, 8:52 am
Mortgage rates in California worsened for the 7th straight day Tuesday, equaling the longest losing streak of the last 5 years.  Because of  the rising rates, homeowners have lost roughly 10% of their purchasing power since November. Conventional, 30-year fixed mortgage rates are now scratching 5 ...
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brad y. posted an article on The Mortgage Coach Report - Feb 7, 2011, 8:51 am
Mortgage rates rose for the 4th time in 5 weeks last week, extending a losing streak which dates back 4 months. This week, they should do the same.
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