October has been quite a month. My right hand, Patty, was gone on vacation and it seems that all heck always breaks loose when she is gone. We are finally caught up! Loans continue to change. Everyday there is a new guideline to be aware of. California has been in the crossfire of many loans being discontinued, but only in our state. Yesterday, Radian Mortgage Insurance decided to start insuring loans with only 5% down again. That means for clients with great credit scores and 5% of their own funds can obtain conventional financing. Conventional guidelines are a little more lenient when it comes to property condition. FHA is still my personal favorite for low down payment consumers.
I would like to thank Mr. Cleghorn for utilizing my services in his recent investment purchase. We closed right on time, a miracle in this market.
Congratulations also to Mr and Mrs Mahler. They have been waiting patiently since April for the bank to approve their purchase, once the seller's bank was on board, we closed their escrow in 3 weeks and right on schedule. I am ecstatic for this couple as their patience netted them a great rate and a savings of $60,000 on their home. Welcome Home Mahler family!!!
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