Joe LaVallie's (joelava) Blog

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Mortgage and Lending - HomeStreet Bank
RECENT BLOG POSTS
Day 1 Lesson 1 Reverse mortgage purchase example: Downsizing with liquidity. In this lesson we have senior client(s) who are downsizing. You are selling their existing home for $300,000 and they are buying their new home for $200,000. There is a loan available with NO CREDIT and NO INCOME QUALIFI...
02/25/2013
What is the smart money doing? What are the professionals doing? Many of you know that some of  the housing recovery has been driven by purchases by REITs. If you look at the fixed income yields it is no wonder people are looking for higher yields and many think that REITs are the answer. Do you ...
02/21/2013
What are we seeing for the first 45 days off 2013. In short; rising interest rates and rising prices. New home sale are surging and the new home supply is dwindling. Recent surveys indicate that the supply of new houses is less than 6 months in many markets. Remember, supplies of less than 6 mont...
02/17/2013
The no loan to value limit HARP loans are alive and well. HARP stands for Home Affordable Refinance Program. Some people also call it the Obama refinance program as it was part of the 2009 economic stimulus program. During this period of time the interest rates were dropping but the problem was t...
02/04/2013
The FHA program has helped buyers since 1934 and we need to make sure it is around for the next generation of home buyers. The problem with FHA right now is delinquencies. There are numerous reports about the actual delinquency rate but one thing we know for sure is that it is higher than it shou...
01/25/2013
When a Realtor lists a property, they also list the type of financing that is available to purchase the property. Knowing the minimum FHA financing standards will help you quickly and accurately assess if the property will meet the minimum FHA standards. If you have any questions about the minimu...
01/24/2013
Do you have a FHA loan that you want to do a streamline refinance and it was endorsed prior to June 1st 2009? Lucky you. Your mortgage insurance premiums are "grandfather" and you will pay a reduced rate for both upfront and annual premiums. If you have any questions about a FHA streamline refina...
01/22/2013
One of the best highlights of the FHA streamline refinance is that it is easy to qualify for. In general you don't need to verify your employment, credit history, and value of home. Some lenders have overlays that add some condition to the approval but this is one of the easiest loans to qualify ...
01/15/2013
One of the most popular refinance programs last year was the FHA streamline refinance program. If you currently have a FHA mortgage there is a special mortgage program for you. With most lenders this program does not require verification or very limited verification of income and assets. Most of ...
01/14/2013
Do you have a VA loan with a high interest rate? The VA streamline refinance is your best option. The VA streamline loan is known as an Interest Rate Reduction Refinance Loan (IRRL) for short. If you have any questions about a VA refinance loan please contact me. To qualify for a VA loan you must...
01/09/2013
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Joe LaVallie

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