What Do New Loan Programs Mean for You?

There are many great San Fernando Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at 818-396-3311 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today, we are joined by special guest Brandon Moss of PrimeLending, our preferred lender here at the Himelstein Group. He'll share some insider information about the many changes in loan programs available in 2015 and what they mean for you!

Gas prices aren't the only thing that have dropped in the last few months, as interest rates continue their downward trend. They're currently at all-time lows, with 30-year fixed mortgages well under 4% without points or fees. It's a perfect to time to buy or refinance to lower your monthly payments, as affordability is at an all-time high.  As we get into the spring and summer, we're expecting rates to rise, so you need to act soon if you want in on the low cost of borrowing.

This year, 3% down conventional loans are going to open many avenues for different buyers. Basically, it's replacing the more expensive FHA purchase loan. It's a great time for first-time buyers to get a loan without having to put much down, while taking advantage of fantastic interest rates. Buyers who are looking into condos and town homes now have another option, as FHA approvals are beginning to expire. This 3% down option is a great alternative!

For wealthier buyers, there are great deals out there as well. Right now, you can get a jumbo loan for up to $1.5 million for only 10% down! This program is perfect for those who have just recently got a job as a lawyer or a doctor, or anyone who has recently been employed at a high-paying job, but who doesn't yet have the liquid funds to put down.

If you're interested in taking advantage of these incredible conditions, you can reach Brandon by calling him at (818) 256-4330 or emailing him at BMoss@PrimeLending.com (NMLS# 61175). As always, if you have any questions, or need real estate assistance of any kind, we would love to hear from you!