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

FHA Home Loans Category

If you seek FHA specific related information this category will cover it.

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...[...]

The American Dream

Why do people want to buy real estate? It is a great long term investment. You aren’t paying for someone elses mortgage, you are building your own equity. No fear of rent increase every year. But I feel it’s not just investing in your own home that is 100% of the appeal. People want rental income. Using real estate to build wealth with an investment property is a significant...[...]

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...[...]

FHA Is Going Back to Work

Link to FHA Is Going Back to Work FHA’s Back to Work Directive Means Going Back Home Orange County, CA – If you’ve had a bankruptcy, short sale, or foreclosure in the last 2-7 years, you may be very glad to hear the latest news from the Federal Housing Administration (FHA). They have issued a change of directive called “Back to Work” that allows people with these credit impairments to...[...]

FHA Insurance Hikes Lead To National Decline

Link to FHA Insurance Hikes Lead To National Decline FHA Insurance Leads to National Decline in FHA loans. Orange County, CA – The dominant source of low-down-payment mortgages for the past several years has been the Federal Housing Association — but that’s on the verge of changing. FHA loans are on a downslide in Orange County (and country-wide, actually.)  Why? There’s a couple of reasons. FHA Insurance Premiums...[...]

FHA Loans To Change Again in April 2013

Link to FHA Loans To Change Again in April 2013 Another FHA Facelift! Orange County, CA – The Federal Housing Administration (FHA) promotes home ownership through a number of loan programs, designed to make it easier for Americans to acquire a home. Low down payment requirements and flexible eligibility requirements have made the FHA loan very popular since 2006 when conventional lenders began tightening their belts.  This...[...]

FHA Mortgage Insurance for Life?

Orange County, CA – The Federal Housing Administration (FHA) recently announced that they would be increasing their monthly mortgage insurance payments once more on new FHA backed loans. The monthly FHA mortgage insurance rate is anticipated to increase by 10 basis points in the coming months. Despite this, there has been other news from the FHA which has been less accessible is...[...]

2013 FHA Changes: What the Future May Hold

Link to 2013 FHA Changes: What the Future May Hold Happy New Year! FHA Changes are Coming Orange County, CA – The Federal Housing Administration(FHA) has made some pretty big announcements in recent weeks. There’s a strong chance that you’ll be significantly affected if you’re a new buyer looking for a home in the next coming year. The changes are meant to increase revenue for the Federal Housing Administration and help it...[...]

99.5% Home Financing Low Down Payment Program

Link to 99.5% Home Financing Low Down Payment Program The Key to Your New Home? Are you trying to buy a home but short on funds? This program is for you. With an initial investment of only 0.5% down you can get the keys to your new home. Contact Scott to find out more about this low down payment option. Since 2006, conventional loan programs offering a low down payment have declined. FHA became the go-to option for low down payment...[...]