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Home Loan Blog Articles from Golden Pacific Home Loans of San Ramon

Stay informed and learn more about home loan matters and housing market from our home loan blog articles below. Scroll down to the Categories section or to the bottom of this page to see more home loan blog articles.

Contact our Golden Pacific Home Loan agents in San Ramon for questions about best home loan mortgage and refinance opportunities.

Government, Investors and Lenders Make Mortgages Easier

The federal government can back a loan as long as a borrower has a down payment of at least 3.5% and a credit score of 580, on a scale of 300 to 850.

Rates Continue Downward Trend!

Mortgage rates resumed their downward trend after barely moving last week, the latest Freddie Mac Primary Mortgage Market Survey said.

Current Housing Market

Existing-home sales rose 0.4% in January from the prior month to a seasonally adjusted annual rate of 5.47 million, the fastest sales pace since July 2015, the National Association of Realtors said Tuesday. Economists had expected sales would slow last month to a 5.31 million pace.

Reverse Mortgages: Income for Seniors

More than 720,000 reverse mortgages have been taken out in the United States since 1987, according to the National Reverse Mortgage Lenders Association in Washington D.C.

HELOC Market is On The Rise

HELOC originations continue to rise, with line of credit amounts originated increasing 35% in January over 2014 levels. HELOC line amounts are the highest since 2005. The reasons for the increased demand vary but one thing is for sure, interest rates are playing a starring role.

FHA Issues New Multifamily Handbook: MAP Guide

WASHINGTON – The Federal Housing Administration (FHA) today published a new consolidated handbook to guide lenders on underwriting all FHA-insured multifamily housing construction and rehabilitation transactions. FHA’s new MAP Guide offers a new operating manual for multifamily underwriting through the Multifamily Accelerated Processing program.

Debt May Pay for Four Reasons

Debt is a four-letter word of the bad kind, according to some people. The type of thing that shouldn’t even be considered by responsible adults. However, not all finance professionals agree debt is something to be avoided.

Why F.H.A. Loans Are Preferred

F.H.A. is preferred because people who have a need for a low down payment, who are also struggling with income, need flexibility in their debt ratios and flexibility in the credit score requirements.

Lower Mortgage Rates Hit 10 Month Low

The average 30-year fixed rate mortgage fell this week from 3.72% to 3.65%, its lowest point in 10 months, according to mortgage buyer Freddie Mac.

Credit Score Competition Act

Credit Score Competition Act bill is in its first stage of the legislative process. Future homebuyers have good reason to keep an eye on this bill. This may help a number of first-time homebuyers compete in the real estate market. How?

Average Mortgage Rates Fell For the Fifth Straight Week

Mortgage buyer Freddie Mac says the average rate on a 30-year fixed-rate mortgage slid to 3.72% this week, down from 3.79% last week and the lowest since it averaged 3.68% in April 2015.

Home prices in 20 U.S. cities climb by most since July 2014

Home prices in 20 U.S. cities rose at a faster pace in the year ended November, underscoring the shortage of supply amid steady demand.

Home Buying for 2016

Home buying in 2016 will remain challenging for many borrowers. But the market should look closer to normal, as more homeowners who had been stuck underwater reach the surface and more first-time buyers find their financial footing.

Possible Ways to Save Thousands on Your Mortgage

Here’s the problem: When you take out a 30-year mortgage, which many of us do, you wind up paying more interest than you may have realized. Let’s say you’ve got a 30-year, $200,000 fixed mortgage at 5% interest. If you make your monthly payment as required, then you’ll wind up paying a total of $186,512 in interest over time, which is almost as much as the principal.

Home Financing for a Multifamily Home

For buyers willing to take on the role of landlord, multifamily properties can be one of the more affordable ways into pricey housing markets. Home loans are available for owner-occupied properties with two, three or four units.

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