Our Fresh Start Program can help you repair credit issues and raise your credit scores, and effectively prepare for purchasing a new home.
When you’re looking to buy a home or refinance your existing home, there are times when you want the trusted, personal service right in your neighborhood, and there are other times when you want the speed and digital flexibility of something bigger. Now Choice One Mortgage gives you both! We’re excited to announced that we’re partnering with Quicken Loans® to … Read More
2019 Riverside County Conforming Loan Limit ________________________________________________ Update – Click here to see the increased 2020 Riverside County Loan Limits ________________________________________________ GREAT NEWS for residents of Riverside County, CA! The 2019 Riverside County Conforming Loan Limits is now $484,350 (up from $405,950 in 2018 and $379,500 in 2017). 2019 California Conforming Loan Limits Conforming loan limits have been increased for … Read More
So now that I know my Credit Score, what does it mean? When evaluating a borrower for a mortgage loan, we look at all three credit bureaus (Experian, Transunion and Equifax). We call it a “Tri-Merge” report. The underwriter will use your middle credit score when evaluating your file for approval. For example, if you have a 720 score with … Read More
Required Credit Re-Establishment Periods for Mortgages after derogatory credit: Short Sales (Deed in Lieu of Foreclosure) Loan Type Waiting Period Conventional (Fannie Mae, Freddie Mac) 4 years FHA 3 Yrs from Sale Exception: No Wait – If No Lates Prior to Short Sale & no lates on installment debts for prior 12 months VA 2 years from sale if borrower … Read More
One of the most important terms you’ll come across when shopping for a mortgage is APR, or annual percentage rate. But what exactly does it mean? Simply put, APR is a way of indicating the real cost of a mortgage, expressed as an interest rate. While the regular interest rate is the first thing most people look at when pricing … Read More