Scott Storace - Branch Manager, 100 Pacifica Drive Ste. 140, Irvine CA 92618 NMLS #226339 949.973.0141

"From the minute you call me to the minute we close, I have your back. No hassles, no banker’s hours & quick response times." - Scott Storace

  • Home Loans up to $3,000,000
  • Interest Rate Float Down Option

Have Questions? Call 949.973.0141

Conventional Loans Category

Conventional loans are non-government home loans. This is where you’ll find information on Fannie Mae and Freddie Mac loan programs.

Mortgage Loan Limits for 2019

Link to Mortgage Loan Limits for 2019 Big news! The Federal Housing Finance Agency (FHFA) just announced their 2019 loan limits. In most of the U.S., the 2019 maximum conforming loan limit for one-unit properties will be $484,350, an increase from $453,100 in 2018. According to FHFA’s Home Price Index, home prices rose 6.9 percent, on average, between the third quarters of 2017 and 2018. As a result, the baseline maximum...[...]

100% Conventional Home Financing?

Link to 100% Conventional Home Financing? 100% conventional financing on a property? Sounds too good to be true, right? Until recently it actually wasn’t a legitimate option. 100% home financing was only available if you were purchasing a home in a qualifying rural area or a U. S. Veteran. Now we have an option for 100% conventional financing. We have talked many times before about how difficult it can be to save up...[...]

Equity Share Home Loan Program

Link to Equity Share Home Loan Program Are you struggling to hit your desired down payment? Is down payment keeping you out of the right home for your family? Are you worried about mortgage insurance? Is a small amount meaning the difference between your dream home and not-quite-what-you-want home? Imagine someone offering to double your down payment. Imagine being able to purchase a home with 20% down instead of 10% down....[...]

Feds Vote to Raise Rates

Feds Raise Rates – The Federal Open Market Committee committee voted to raise the Fed Funds rate by .25%, bringing the range to 1.50% -1.75%. This is the sixth time they have voted to raise rates since December 2015. In a statement released after today’s meeting the committee is quoted as saying. “The economic outlook has strengthened in recent months,…”...[...]

Mortgage Insurance Alternatives

We have all heard about mortgage insurance. And most people know they aren’t excited about it. It can be very expensive, adding hundreds of dollars to your monthly payment. One of the oldest home buying myths is that you shouldn’t set foot into an open house until you have 20% for the down payment sitting in your savings account. This 20% was required to avoid paying Private...[...]

Mortgage Loan Limits for 2018

Orange County, CA – Big news! The Federal Housing Finance Agency (FHFA) just announced their 2018 loan limits! To watch a short video about it, click here!   With a rise in home prices nation wide, the FHFA have increased the conventional loan limits for single unit properties. In most of the U.S., the 2018 maximum conforming loan limit for one-unit properties will be...[...]

How Work History Affects Home Loans

How does your work history affect your chance of a loan approval? Orange County, CA- Work history can have a profound impact on your ability to qualify for a mortgage. One of the first questions a loan officer will ask you is “How long have you been in your field of work?” You may have heard that lenders like at least 2 years in the same line of work. It shows a level of...[...]

Mortgage Tip: The Seller Concession

Link to Mortgage Tip: The Seller Concession Seller Concessions Can Turn A Renter Into a Buyer Orange County, CA – A mortgage is the biggest financial obligation that most of us will take on in our lifetimes — so every advantage you can carve out is money in your pocket down the road. The seller concession is one of the more common ‘tips’ that you can use to trim your home purchase related costs...[...]

Expand Loan Limits with Private HELOC

Link to Expand Loan Limits with Private HELOC HELOC Lifts Loan Limits Orange County, CA – With conventional loan limits set to decrease in January, one private lender is offering a solution. We now have an investor offering a HELOC (home equity line of credit) with an extraordinary $1,250,000 limit. Since this is a 2nd loan there’s no private mortgage insurance required. What makes this different from a home...[...]

Conventional Loan Limits to Drop in 2014

Link to Conventional Loan Limits to Drop in 2014 Loan Limits Apply Orange County, CA – The FHFA (Federal Housing Finance Agency) has chosen to lower the cap on mortgages backed by Fannie Mae and Freddie Mac. At the moment, you can get a conventional loan for up to $417,000 in most areas and up to $625,500 in expensive markets like Orange County. The new loan limits haven’t been announced yet, but they have said...[...]