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.

Getting Financial Aid…For A Jumbo Loan?

Link to Getting Financial Aid…For A Jumbo Loan? Financial Aid for Jumbo Loans? Orange County, CA – Jumbo loans are for anything over $417,000 in most areas of the country. But that limit is raised in certain high-cost areas, including parts of New York City, Washington D.C., and of course the area around the Orange County and Los Angeles, California. In this neck of the woods, the limit is $625,500. A variety of government...[...]

The Skinny On HARP 2.0

Link to The Skinny On HARP 2.0 HARP Help For Homeowners Orange County, CA – Many people haven’t been able to lower their home payments due in large part to negative equity. Often banks won’t lend to these people, simply because the value of their homes is less than the figure they still owe. Anyone who bought during the housing boom with a low down payment could easily be in this position. This makes it...[...]

Living Abroad? Purchase a Home

Link to Living Abroad? Purchase a Home Orange County, CA – Keeping on top of the mortgage market can be good fun, and that’s especially the case when you come across great opportunities for potential buyers that are a little out of the park. Homeowners across the country are seeking to reap the benefits of housing. Many are reducing their payment with a refinance or purchasing a home. Even though you may be living...[...]

The Truth About Jumbo Loans

Link to The Truth About Jumbo Loans Orange County, CA – It’s without doubt that there is a public perception about jumbo loans. The automatic response is that the interest rates are steep and far more rigorous criteria must be followed in order to qualify for jumbo loans. In some respects, these notions are true, but only to a marginal extent. First, let’s look at the interest rate that you’re likely to get...[...]

80-10-10: Saving Tips

Link to 80-10-10: Saving Tips The 80-10-10 loan program is making a profound impact on families in Orange County, CA. The most profound impact I’ve seen is for people looking to lower their total payment. Very few lenders allow 2nd loans above 80%. That means you’re stuck with mortgage insurance or 20% down as your primary options. I’ve put together the top tips to determine if the 80-10-10 is the right fit...[...]

Real Estate Investors: Cash-Out 1 Day After Close

Link to Real Estate Investors: Cash-Out 1 Day After Close Sometimes there’s an advantage to paying cash for a home even if you want a mortgage. This is especially true for real estate investors. Speed, price and terms of the deal may all be improved with a cash offer. But if you planned on pulling your cash back out of the property right away, you would have been turned away. Fannie Mae had a delayed financing rule in cases like this. They...[...]

5% Down Payment Conventional Loan With Gifted Funds

Link to 5% Down Payment Conventional Loan With Gifted Funds You need a loan with a 5% down payment and the flexibility of a gift. You want to purchase a home but your savings are depleted. You see interest rates are at new lows. You’ve also witnessed home prices decline since 2006. And now that home prices are rebounding you realize that the time to act is now. Does this describe you? Maybe you’ve determined that FHA will meet...[...]

80/10/10 Mortgage – Eliminate PMI and Increase Loan Limits

Link to 80/10/10 Mortgage – Eliminate PMI and Increase Loan Limits Wouldn’t it be great to increase the $625,500 loan limit without the need for a jumbo loan? You can!  The 80/10/10 loan is back. And it’s perfect for the Orange County, CA marketplace. This combo loan increases conventional loan limits and eliminates mortgage insurance. It also has other beneficial features, especially for high cost markets like Orange County. The 2012...[...]

Jumbo Loan Rates Find Favor in Orange County’s High End Housing Market

Link to Jumbo Loan Rates Find Favor in Orange County’s High End Housing Market The luxury home market is strong. Homes sales in Orange County, CA between $1 million and $2 million are up 46% in the past year. An economy that is growing, low jumbo loan interest rates and excellent home prices are the leading factors. In fact the bottom may have already passed! GROWING ECONOMY & LOW HOUSING PRICES According to the Fiserv financial services and technology firm,...[...]

HARP 2.0 Refinance Program for Conventional Loans

Link to HARP 2.0 Refinance Program for Conventional Loans Orange County, CA – Home values have steadily declined since 2006. That’s when the bubble burst on the overheated housing market. During this same period of time interest rates have fallen dramatically as well. They’ve set new record lows. Many howmeowners have sought to take advantage of these low ratrs to reduce their monthly payment. But with their home equity...[...]