When purchasing a new home, you DO NOT have to put 20% down to avoid paying Private Mortgage Insurance or PMI. In this video, we show you how – and show you ways to save A LOT of money at the closing table AND over the life of the loan.
VIDEO: FHA vs Conventional Purchase Loans – What’s Best for Me?
A purchase loan example detailing the differences between FHA and Conventional (Fannie Mae) loans. Actual rate and payment comparisons and the Pros and Cons of each are explained in full.
New Construction Condominium Mortgage – we have you covered!
Important Features of our New Construction Condominium Mortgage Product: 25% pre-sale requirement, only your building needs to be complete, no pricing hit!
Choice One Mortgage Fresh Start Program
Our Fresh Start Program can help you repair credit issues and raise your credit scores, and effectively prepare for purchasing a new home.
Recalculate Your Mortgage Payment at a Lower Balance – without Refinancing!
Come into some money? Try recasting your mortgage! We allow you to pay down your balance and we will recast your monthly payment, at current rate and term!
Choice One Mortgage has Partnered with Quicken Loans!
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
2019 Riverside County Conforming Loan Limit 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 2019. The Federal Housing Finance Agency (FHFA) announced the new loan limits on … Read More
Important Facts about Credit Reports and Credit Scores
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
Credit Re-Establishment Periods for Mortgages
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
Mortgage Products – What’s Right For Me?
With your particular qualifications and all of the different options, it’s important to understand the distinction between available mortgage products.