Wednesday, March 10, 2010
   
Text Size
Login
image image image
Important Featured Story Important Not To Miss features This website packs a lot of resources for a Home Buyer .We briefly introduce you to some of the features : Access to MLS Properties from all major MLSs Your Property Organizer Account: Seach By Map: Search Foreclosures Only Set up Daily Emails   Brand New!!! One Page devoted to each major city with Links to  Just Listed Properties,New homes,Income Properties,Condos .Resources for each city financing program with individual city financing limits ,down payment assistance programs offered,USDA availability,other special programs available.CLICK HERE
Another Featured Article Are u a Numbers Person? Our research team works for you...We have current data and old reports on every major market broken down by major cities.You can download it and analyze for your self ,if you prefer.We monitor every crucial aspect of the cities under our microscope.Check it Out Here
Featured Article Headline All the financing questions answered ?? We have tried to cover every aspect of your home financing needs FHA VA USDA 1/2% down Loans Bad Credit:Check this out? First Time home Buyer Benefits Loan Limits
Brand New Proprietory Instant PreQual Estimator Enter your data and our proprietory software will match you with all the programs available to us .We send you an instant email with the PreQualification amount and any issues that we see with your profile.Check it Out Here  

Ca Homes For Sale | Ca Foreclosures | Ca Mortgage | Ca Houses for Sale

Click for Adelanto, California Forecast

Adelanto CA Homes For Sale

Adelanto Ca Foreclosures

Instant Prequal Estimator

 

The median income for a household in the city was $31,594, and the median income for a family was $35,254. Males had a median income of $33,971 versus $25,807 for females. The per capita income for the city was $10,053. About 21.4% of families and 24.5% of the population were below the poverty line, including 30.0% of those under age 18 and 12.8% of those age 65 or over.

Compare City/County/State/US Demographic,Economic,Social and Housing data here

Average Median Price

No of Homes Sold (September 2009) 87      Median Price of Homes $90,500        Median  Price Drop(in last 12 months) -25.97%

Quick Links to MLS Listings

Mortgage for Adelanto Ca Homes For Sale

HUD Median Income 2009 :$64,500

Mortgage Loan Limits :

1 Unit Homes: $500,000    2 Unit Homes: $640,100    3 Unit Homes: $773,700    4 Unit Homes: $961,550

  1. FHA Mortgages:Available .Please click on FHA Qualification Summary to read the general eligibility guide.
  2. VA Mortgages:Available.Please click on VA Qualification Summary to read the general eligibility guide.
  3. USDA Mortgages :Available in Adelanto, Ca.Please see list of Eligible Cities.
  4. 1/2% Down Mortgages :Available.Please click on 1/2% Down Qualification Summary to read the genearl eligibility guide.
  5. Bad Credit Mortgages: Available .Please click on Bad Credit Qualification Summary to read the general eligibility guide.
  6. First Time Home Buyer Mortgages: Available.Please click on First Home Home Buyer Qualification Summary to read about general eligibility.

Mortgage Rates: Displayed for you in the module on this page

Mortgage Calculator:Use this to calculate mortgage payments.Just input the Purchase price you want to calculate payments on. For every $100000 Purchase Price, taxes should be adjusted to $1250 and Insurance to $200.You do not need to adjust any other numbers including PMI.

Instant Affordability Calculator:This is our Proprietory Affordability Calculator.It matches your profile against the programs we offer and instantly communicates the PreQual amount and the Purchase price you are eligible for.No personal information such as name,Social ,address are needed.

Short Application:Input a Short Application if you are ready to move forward.A Loan Officer will review the application and be in touch per your preference.

Adelanto is a city in San Bernardino County, California about 9 miles northwest of Victorville. The population was 18,130 at the 2000 census. The population as of July 2008 was near 27,500.



 

29 Palms CA Homes For Sale

29 Palms CA Foreclosures

Instant PreQual Estimator

 

The median income for a household in the city was $31,178, and the median income for a family was $32,251. Males had a median income of $25,081 versus $25,141 for females. The per capita income for the city was $14,613. About 13.6% of families and 16.8% of the population were below the poverty line, including 25.3% of those under age 18 and 10.0% of those age 65 or over.

Compare City/County/State/US Demographic,Economic,Social and Housing data here

Average Median Price

No of Homes Sold (October 2009) 24      Median Price of Homes $82,000        Median  Price Drop(in last 12 months) -28.70%

Quick Links to MLS Listings

 

Mortgage for 29 Palms Ca Homes For Sale

HUD Median Income 2009 :$64,500

Mortgage Loan Limits :

1 Unit Homes: $500,000    2 Unit Homes: $640,100    3 Unit Homes: $773,700    4 Unit Homes: $961,550

  1. FHA Mortgages:Available .Please click on FHA Qualification Summary to read the general eligibility guide.
  2. VA Mortgages:Available.Please click on VA Qualification Summary to read the general eligibility guide.
  3. USDA Mortgages :Available in 29 Palms, Ca.Please see list of Eligible Cities.
  4. 1/2% Down Mortgages :Available.Please click on 1/2% Down Qualification Summary to read the genearl eligibility guide.
  5. Bad Credit Mortgages: Available .Please click on Bad Credit Qualification Summary to read the general eligibility guide.
  6. First Time Home Buyer Mortgages: Available.Please click on First Home Home Buyer Qualification Summary to read about general eligibility.

Mortgage Rates: Displayed for you in the module on this page

Mortgage Calculator:Use this to calculate mortgage payments.Just input the Purchase price you want to calculate payments on. For every $100000 Purchase Price, taxes should be adjusted to $1250 and Insurance to $200.You do not need to adjust any other numbers including PMI.

Instant Affordability Calculator:This is our Proprietory Affordability Calculator.It matches your profile against the programs we offer and instantly communicates the PreQual amount and the Purchase price you are eligible for.No personal information such as name,Social ,address are needed.

Short Application:Input a Short Application if you are ready to move forward.A Loan Officer will review the application and be in touch per your preference.

Twentynine Palms (also 29 Palms) is a city in San Bernardino County, California, United States. The population was 14,764 at the 2000 census.

   

Click for San Jose, California Forecast

San Jose CA Homes For Sale

San Jose CA Foreclosures

Instant PreQual Estimator

 

According to a 2007 estimate, the median income for a household in the city was the highest in the US for any city with more than a quarter million residents with $76,963 annually. The median income for a family was $86,822. Males had a median income of $49,347 versus $36,936 for females. The per capita income for the city was $26,697. About 6.0% of families and 8.8% of the population were below the poverty line, including 10.3% of those under age 18 and 7.4% of those age 65 or over.

Compare City/County/State/US Demographic,Economic,Social and Housing data here

Average Median Price

No of Homes Sold (September 2009) 1,042      Median Price of Homes $400000          Median  Price Drop(in last 12 months) 12.09%

Quick Links to MLS Listings

Mortgage for San Jose Ca Homes For Sale

HUD Median Income 2009 :$102500

Mortgage Loan Limits :

1 Unit Homes: $729750    2 Unit Homes: $934200    3 Unit Homes: $1129250      4 Unit Homes: $1,403,400

  1. FHA Mortgages:Available .Please click on FHA Qualification Summary to read the general eligibility guide.
  2. VA Mortgages:Available.Please click on VA Qualification Summary to read the general eligibility guide.
  3. USDA Mortgages :Not Available in San Jose ,Ca.Please see list of Eligible Cities.
  4. 1/2% Down Mortgages :Available.Please click on 1/2% Down Qualification Summary to read the genearl eligibility guide.
  5. Bad Credit Mortgages: Available .Please click on Bad Credit Qualification Summary to read the general eligibility guide.
  6. First Time Home Buyer Mortgages: Available.Please click on First Home Home Buyer Qualification Summary to read about general eligibility.

San Jose Down Payment Assistance:

Available.Brief details are stated below.We offer these programs.Please complete the Contact Form for more details.

San Jose Building Equity & Growth In Neighborhoods (BEGIN)                 C,F         $30,000    
San Jose CalHOME WelcomeHOME Loan Assistance Program (CalHOME)    C,F,V      $25,000
San Jose Downtown High-Rise Homebuyer Program (DHR)                      C,F,V      $60,000    
San Jose First-time Homebuyer Program (HP)                                        C,F,V      $25,000    
San Jose SJSC Faculty Homebuyer Program (FHP)                                   C,F        $60,000    
San Jose Teachers Homebuyer Program (THP)                                       C,F        $65,000

Mortgage Rates: Displayed for you in the module on this page

Mortgage Calculator:Use this to calculate mortgage payments.Just input the Purchase price you want to calculate payments on. For every $100000 Purchase Price, taxes should be adjusted to $1250 and Insurance to $200.You do not need to adjust any other numbers including PMI.

Instant Affordability Calculator:This is our Proprietory Affordability Calculator.It matches your profile against the programs we offer and instantly communicates the PreQual amount and the Purchase price you are eligible for.No personal information such as name,Social ,address are needed.

Short Application:Input a Short Application if you are ready to move forward.A Loan Officer will review the application and be in touch per your preference.

 

San Jose (pronounced /ˌsænhoʊˈzeɪ/) (meaning St. Joseph in Spanish) or San José is the third-largest city in California and the tenth-largest in the United States. The county seat of Santa Clara County, it is located at the southern end of the San Francisco Bay Area, a region commonly referred to as Silicon Valley. Once a small farming city, San Jose became a magnet for suburban newcomers in new housing developments between the 1960s and 1990s, and is now the largest city in Northern California. Its estimated population by the US Census Bureau as of 2008 is 948,279. The greater metropolitan area contains approximately 7.4 million residents. It is one of the primary cities of the San Francisco Bay Area, and the largest in terms of population, land area, and industrial development.

 



 

Click for Sacramento, California Forecast

Sacramento CA Homes For Sale

Sacramento CA Foreclosures

Instant PreQual Estimator

 

As of the 2005-2007 American Community Survey conducted by the U.S. Census Bureau, White Americans made up 49.5% of Sacramento's population; of which 38.3% were non-Hispanic whites. Blacks or African Americans made up 14.4% of Sacramento's population; of which 14.2% were non-Hispanic blacks. American Indians made up 1.2% of the city's population; of which 0.8% were non-Hispanic. Asians made up 17.4% of the city's population; of which 17.1% were non-Hispanic. Pacific Islanders made up 1.2% of the city's population. Individuals from other races made up 11.6% of the city's population; of which 0.4% were non-Hispanic. Individuals from two or more races made up 4.8% of the city's population; of which 3.2% were non-Hispanic. In addition, Hispanics or Latinos of any race made up 24.8% of Sacramento's population.

In the city the population is spread out with 27.3% under the age of 18, 10.4% from 18 to 24, 30.7% from 25 to 44, 20.2% from 45 to 64, and 11.4% who are 65 years of age or older. The median age is 33 years. For every 100 females there are 94.5 males. For every 100 females age 18 and over, there are 91.0 males.

The median income for a household in the city is $37,049, and the median income for a family is $42,051. Males have a median income of $35,946 versus $31,318 for females. The per capita income for the city is $18,721. 20.0% of the population and 15.3% of families are below the poverty line. Out of the total population, 29.5% of those under the age of 18 and 9.0% of those 65 and older are living below the poverty line.

Compare City/County/State/US Demographic,Economic,Social and Housing data here

Average Median Price

No of Homes Sold (September 2009) 1,101      Median Price of Homes $142,000          Median  Price Drop(in last 12 months) -11.25%

Quick Links to MLS Listings

Mortgage for Sacramento Ca Homes For Sale

HUD Median Income 2009 :$72,800

Mortgage Loan Limits :

1 Unit Homes: $580,000    2 Unit Homes: $742,500    3 Unit Homes: $897,500      4 Unit Homes: $115,400

  1. FHA Mortgages:Available .Please click on FHA Qualification Summary to read the general eligibility guide.
  2. VA Mortgages:Available.Please click on VA Qualification Summary to read the general eligibility guide.
  3. USDA Mortgages :Not Available in Sacramento, Ca.Please see list of Eligible Cities.
  4. 1/2% Down Mortgages :Available.Please click on 1/2% Down Qualification Summary to read the genearl eligibility guide.
  5. Bad Credit Mortgages: Available .Please click on Bad Credit Qualification Summary to read the general eligibility guide.
  6. First Time Home Buyer Mortgages: Available.Please click on First Home Home Buyer Qualification Summary to read about general eligibility.

Sacramento Down Payment Assistance:

Available.Brief details are stated below.We offer these programs.Please complete the Contact Form for more details.

Sacramento County Section 32 Homeownership Program (HP)                 C,F         $208,500
Sacramento County Target Area Homebuyer Program (TAHP)                 C,F          $5,000
Sacramento County/City CalHome First Time Homebuyer
Mortgage Assistance Program (CalHOME)                                              C,F          $56,000    
Sacramento County/City First Time Home Buyer Program (FTHP)              F            $40,000
As of 03/16/09 ONLY COUNTY FUNDS ARE AVAILABLE FOR UNINCORPORATED AREAS                                    
Sacramento Mortgage Assistance Program                                            C,F          $20,000    

Mortgage Rates: Displayed for you in the module on this page

Mortgage Calculator:Use this to calculate mortgage payments.Just input the Purchase price you want to calculate payments on. For every $100000 Purchase Price, taxes should be adjusted to $1250 and Insurance to $200.You do not need to adjust any other numbers including PMI.

Instant Affordability Calculator:This is our Proprietory Affordability Calculator.It matches your profile against the programs we offer and instantly communicates the PreQual amount and the Purchase price you are eligible for.No personal information such as name,Social ,address are needed.

Short Application:Input a Short Application if you are ready to move forward.A Loan Officer will review the application and be in touch per your preference.

 

Sacramento is the capital of the U.S. state of California, and the county seat of Sacramento County. Located along the Sacramento River and just south of the American River's confluence in California's expansive Central Valley. With a 2007 estimated population of 502,743, it is the seventh-largest city in California.[3] Sacramento is the core cultural and economic center of the Sacramento Metropolitan Area which includes El Dorado, Placer, Sacramento, and Yolo counties and has a combined population of approximately 2,136,604. The region has also been cited as one of the ten "most livable" regions in America in 2004, and the city was cited by Time magazine as America's most integrated in 2002.

Sacramento became a city due to the efforts of John Sutter, a Swiss immigrant, and James W. Marshall. Sacramento grew faster due to the protection of Sutter's Fort, which was established by Sutter in 1839. During the California Gold Rush, Sacramento was a major distribution point, a commercial and agricultural center, and a terminus for wagon trains, stagecoaches, riverboats, the telegraph, the Pony Express, and the First Transcontinental Railroad.

   

Page 1 of 2

Feedburner

Who's Online

We have 17 guests online

Our Feeds

Home Page
SF East Bay

Polls

Would a Shorter Close of 21 days help you getting your Offer Accepted

Contact Us

866 280 0020

Mon-Fri 9 AM-6 PM

info@HomeSearchFinder.com

FHA Loans - FHA Loan Processing

The loan processing of your file is the most time consuming aspect of the loan process. This is the preparation of your file for presentation to the FHA investors. All documentation is reviewed to insure there is no discrepancies in presentation and any possible issues are worked on at this stage.

If at your initial application you did not provide all of the original documents needed, this is the stage where they will be requested for again.

The processing stage is comprised of gathering all of the following documents.

* FHA Case Number - We will request from FHA a FHA case number. If a condo, PUD or townhome, will need to verify property is an FHA approved complex. If property was previously in escrow, may need to request case number from other lender. Usually 1-2 days.

* Verifications of Employment - Form sent to past and present employers for last two years to verify income and time on the job (some employers have an automated 900 # for employment verification). Unusually takes 1-2 weeks.

* Verifications of Deposit - Form sent to banking institutions to verify average bank account balances for past 3 months (some banks will charge borrower a fee of up to $20 for this verification). Usually takes 1-3 weeks.

* Credit Report - May need to order a full factual credit report which is the three major credit report bureau's blended onto a single report, with all accounts and balances verified. Usually takes 2-5 days.

* Escrow Instructions* - Escrow instructions are drawn up by the escrow company detailing the transaction details. Escrow is an independent third party of the transaction who acts as the accountant. *California, some states use   closing attorney's or title companies. Usually takes 2- 7 days.

* Preliminary Title Reports - This comes from the title company who will insure the title of the home. They research the property and borrower for any legal items, liens, loans that may affect title to the property. Usually takes 1-2 weeks.

* Appraisal - Appraisal will be order from a FHA approved appraiser. The appraiser will go to the property, measure square footage, verify FHA required conditions, check other recent comparable home sales, and determine value of the home. Appraisals usually take 1-4 weeks to complete.

* Purchase Contract, Counter Offers, and Transfer Disclosure statements - This is for purchase transactions only. This are the original contracts regarding the terms of the purchase of the property. We need all of the completed signed (by both parties) forms prior to ordering the appraisal, as appraiser requires a copy of the contract. This will typically be provided by the realtors. Usually takes 2-10 days.

* Letters of Explanation - Letters written and signed by borrower to explain any issues on the credit report, work history, bank account deposits or variances, source of funds, etc. Usually complete after receipt of all other documents.

* Additional supporting documents - Additional paperwork possibly needed on a case by case scenario, such as: 12 months cancelled checks to verify not making payments or receiving income, complete bankruptcy, divorce, child support papers. This will vary by borrowers individual scenario.

* Any Documents missing from initial loan application - Any paperwork missing from original loan application and loan opening such as: 2 months recent paystubs, 3 months complete bank statements, last 2 years tax returns, etc.

Since we are requesting and receiving all of these documents from various companies and individuals, this is most often where there is delays. This portion of the loan process will normally take 1 to 3 weeks.

Once the we have received all requested documents from all parties, you loan can then be fha home loans submitted.

 

FHA Loans - FHA Loan Submission

Once the loan processing has been completed and we have received all needed documents, the loan is then submitted to the investor for underwriting. This part of the process usually takes two days.

* day one for the loan to be overnighted from our office to the investor.
* day two for the investor to log it into their system and assign it to an underwriter.

Next the loan will go into fha home loans Underwriting.

 

FHA Loan Underwriting Process

Once your file has been submitted to the investor, it will be underwritten. This is when an underwriter will review your file and render a loan decision. This portion of the loan normally take 2-5 days.

The underwriter will review of the information and make sure that it conforms to the guidelines that FHA has set forth. The underwriter will review all of the following aspects of the file:

* Income and Debt Ratios

* Employment History

* Credit History

* Savings / Source of Money for Down Payment

* Appraisal

FHA Loan Approval Process

Once your loan is approved, there may be some updated or additional information needed to proceed to the closing of your loan. During this time any items (commonly called: conditions) will be requested and provided to the investor for review.

Once these remaining conditions have been provided and reviewed by the investor you loan can move to the next stage fha home loans Loan Documents.

 

FHA Loans - FHA Loan Documents

The loan document process is the stage when your loan documents are being prepared by the investor. These loan documents are the legal binding documents to finalize your transaction. They will include some of the following important items to be signed:

* Note - Promissory Note indicating amount borrowed, interest rate charged, and terms or repayment, and the monthly payment amount.

* Deed of Trust - this documents places the property as security to the loan and note. (recorded with county recorders office)

* HUD 1 - this document is the itemized break-down of all fee's incurred for obtaining the loan.

If the interest rate has already been locked-in, the loan documents are drawn by the  document person. Once the loan documents are printed, they are then overnighted to the escrow company, who then will contact the borrower to set-up an appointment to sign the loan documents. This process from document order to signing will normally take 2-5 days.

Some lenders, like FHA-Home-Loans.com, Secure Funding are currently using technology to have this documents delivered via email which can help save time.

Once the loan documents have been signed they must then be overnighted back to the lender to set-up the loan funding.

 

Login Icon