tag:blogger.com,1999:blog-56574906905538096432011-11-05T00:41:17.680-07:00Vesta Mortgages is prepared to help you find the very best home loan mortgage for a new purchase, refinance, or investment property. We have the resources to help you get the very best rate and terms for your specific needs and circumstancesPage1Listings.comnoreply@blogger.comBlogger21100tag:blogger.com,1999:blog-5657490690553809643.post-12253570350626487872009-11-20T14:21:00.000-08:002009-11-20T14:21:49.869-08:00An FHA loan is a mortgage that is insured by the Federal Housing Authority against default by the borrower. The FHA is not the lender. The FHA does not have anything to do with rates. Certified FHA lenders provide the rates and terms, but must meet qualifications set by the FHA.<br /><br />The FHA is in the business of helping borrowers obtain mortgages for which they would otherwise have trouble qualifying, such as poor credit low cash reserves lack of employment history, or reduced income. Anyone, regardless of income or credit rating may use FHA insurance if they desire.<br /><br />FHA loans have become increasingly popular during the later part of the 2000's, because of their easy underwriting requirements and the government’s guarantee.<br /><br />FHA loans can be used for a purchase or for a refinance, including ones that let you take cash out of your property. The property must be a primary residence, be it can be a single family house, condo, coop, townhouse, duplex, triplex or 4 unit building. <br /><br />Some benefits of FHA loans include: easier credit qualifying guidelines; comparable closing costs; and much lower down payment requirements. Down payments can be as low as 3.5% of the purchase price. Your closing costs can be included in loan amount. <br /><br />An FHA backed mortgage loan includes a requirement to carry mortgage insurance (MI). This will add to the costs of the loan and the payments until you have established an 80% equity in the home.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5657490690553809643-1225357035062648787?l=mortgagepasadena.blogspot.com' alt='' /></div>Page1Listings.comnoreply@blogger.com0tag:blogger.com,1999:blog-5657490690553809643.post-4688345699968234932009-11-20T10:28:00.000-08:002009-11-20T10:28:37.021-08:00Take advantage of a one-in-a-lifetime opportunity to lock in low fixed rate Mortgages in Los Angeles. The federal government is making it as easy as possible for first time buyers to get a home, through the first time home owners rebate program.&nbsp; Now that this program has been extended to those who have an existing home, the possibilities are even more exciting.&nbsp;<br /><br /><br />You can commonly move into a new home for no net out of pocket.&nbsp; Yes, you will need to have a down payment of 3.5% for an FHA loan, and there may be closing costs, points, and other costs to get you in the new home.&nbsp; However, with a government tax rebate of up to $8000, you will get back all or almost all of your cash when the rebate comes.<br /><br /><br />We have dozens of lending institutions that we work with to find the best possible fit for your circumstance. Some lenders are very strict on certain aspects of the loan, but more agressive on others. Whatever your situation, we will do whatever we can to find you an affordable mortgage.<br /><br />Please don't hesitate to call for expert direction and advice. We are happy to help, even when ultimately there is no loan. Call NOW at <br />626-282-1164&nbsp;<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5657490690553809643-468834569996823493?l=mortgagepasadena.blogspot.com' alt='' /></div>Page1Listings.comnoreply@blogger.com0