The Consumer Financial Protection Bureau (CFPB) just issued final rules related to the Ability to Repay portion of Qualified Mortgage (QM). This will allow for some compensating factors for qualifying for a Freddie or Fannie loan, instead of the 43% Debt to Income (DTI) ratio. This change from ... » Learn More about Big Changes and Flexibility On Mortgage Qualifying Coming
Mortgage Rates
New Fannie Mae and Freddie Mac Loan Limits for 2021
The substantial appreciation of residential real estate values in 2020 has helped the Federal Housing Finance Agency (FHFA) push the maximum loan amounts allowed for conforming loans to new highs. On a national level, the base loan amount increased from $510,400 (2020) to $548,250 (2021). The limits ... » Learn More about New Fannie Mae and Freddie Mac Loan Limits for 2021
San Fernando Valley Housing Statistics October 2020
The San Fernando Valley housing market is still hot, but there will be changes coming. The number of new sales are still high, dealing with a slight seasonal easing, but also limited by low inventory. The available inventory is edging up but still substantially lower than historical ... » Learn More about San Fernando Valley Housing Statistics October 2020
Interest Rates Have Never Been Lower
As you can see in this chart of long term interest rates going back to 1971, interest rates pertaining to the 10 year note and the 30 year fixed rate mortgage have never been lower. To offset the economic effects of the COVID Pandemic, the Federal Reserve has been conducting Quantitative ... » Learn More about Interest Rates Have Never Been Lower
Income to Purchase Loan Guide San Fernando Valley Single Family Homes September 2020
This is a ballpark guide on what it would take financially to purchase a median-priced home in the San Fernando Valley. Interest rates are still at historic lows, pricing has been appreciating at a substantial pace over the past 5 months. The 80% Loan to Value (LTV) is only a guide. There are ... » Learn More about Income to Purchase Loan Guide San Fernando Valley Single Family Homes September 2020