According to a recent article in the Los Angeles Times, mortgage interest rates are at their lowest levels in five weeks, and not surprisingly more people are seeking home loans.  This is can be seen as a positive sign that the value in homes are increasing slightly instead of homeowners being upside down on their mortgages.

This is both a positive and a negative for some homeowners.  On the positive side, this means they are able to refinance their homes at a lower rate and take advantage of equity in their homes.  But on the negative side, this assumes that the borrowers who are purchasing new homes still have good credit, can make at least a 20% down payment on residences with value of no more than $417,000.

Two important keys to this type of program:

• Loan amount available up to the maximum JUMBO FHA limit in your area
• FHA financing is for Everyone and not limited to first time homebuyers

FHA loans are guaranteed by the government and offer more flexible guidelines than traditional mortgages.  Some of these features are:

·         Down payment of 3.5%

·         Allows for lower credit scores

·         Cash out refinance transactions up to 85% of loan to value

·         No minimum or maximum income limits

When considering to refinance or purchase, a new property, the consumer must be prepared to present a complete financial package to their lender.  By having all the financial information available, this will allow your loan expert to find the correct loan program to fit your financial requirements.

How do I get rid of credit card debt fast?  Being in credit card debt can be a frustrating and scary experience.  The over the limit fees and the late fees can get burdensome if not pushing you over the financial edge.  If you have your back against the wall you do have a few options.

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