This well-written article will assist Palos Verdes home buyers in determining their mortgage options when purchasing their new home. Home buyers strengthen their position when they submit a PreApproval letter and proof of funds along with their Purchase Offer. Included is some information to gather before applying for a home mortgage/loan
Increased FHA loan limits can help Palos Verdes homes buyers with its generous 3.5% down payment requirement and minimum 620 FICO score requirement.
Buyers and sellers of Palos Verdes real estate as well as Palos Verdes homes owners wanting to refinance are currently affected by the lack of transparency regarding who actually receives the appraisal fee.
Palos Verdes real estate new home loans and refinanced loans now have additional credit checks during the approval process.
Buyers of Palos Verdes real estate are opting for more adjustble rate mortgages than in the past year.
Palos Verdes homes owners may have their FICO credit scores reduced if their home equity line and/or credit card limit has been reduced and their current balances are closer to their new limits.
Credit scores explained for Palos Verdes homeowners as well as upcoming changes to how those scores are computed.
Palos Verdes real estate mortgage interest rates are the lowest since 1971 and buyers have taken notice.
Palos Verdes real estate, mortgage information, loan points, annual percentage rate, APR, loan origination fees