ApproveMeFHA.com has launched!
Updated Oct. 9, 2013
I have officially launched ApproveMeFHa.com.  A website dedicated to the fair treatment of first time homebuyers, and repeat buyers looking for accurate information regarding the mortgage process.  This website will walk you through how to get started down the road to homeownership. ...

Rates are LOW!
Updated Oct. 9, 2013
With the recent economic climate in Europe, the bond market (the market which directly controls interest rates) has seen some volatility.  This volatility has led to prices going up, which means rates have gone down.  The first sign that Europe has gotten the economic situation under control or a...

Rates are LOW.. Why?
Updated Oct. 9, 2013
With the recent economic climate in Europe, the bond market (the market which directly controls interest rates) has seen some volatility. This volatility has led to prices going up, which means rates have gone down. The first sign that Europe has gotten the economic situation under control or a possible fix is...

Why is FHA so popular?
Updated Oct. 9, 2013
Here are just a few reasons that make FHA a popular mortgage program in today's market landscape. Find out more at www.approveMeFHA.com. FHA guidelines are designed to offer more flexibility for evaluating individual borrowers.You'll only have to come up with a 3.5% down payment, but some money can come...

What are 203k loans?
Updated Oct. 9, 2013
Federal Housing Administration (aka FHA), is the government insurance mortgage program. They offer a low down mortgage product of only 3.5% down. They not only offer this low down government insured program but they also offer a property rehabilitation loan (203k loan). This loan follows the FHA minimum...

FHA Mortgage Insurance
Updated Oct. 9, 2013
FHA Mortgage Insurance. Here is some important information regarding the FHA program. First, FHA is an insurance program to help home owners get into homes. There are two types of insurance. UpFront Mortgage Insurance (MI) and Monthly Mortgage insurance(MMI) are the two types. The UpFront MI is 2.25% of the loan...

Homebuyer questions you need to know.
Updated Oct. 9, 2013
A homebuyer's most common asked mortgage questions answered.. The most common questions of a mortgage loan are often a struggle for new and old buyers alike. Today, I answer those questions honestly to finally clear up the mystery.. #1 Why does one lender charge one rate and another lender charges another?....

FHA Premium increase
Updated Oct. 9, 2013
SENATE APPROVES BILL TO INCREASE FHA MI PREMIUMS. The Senate approved last night the bill HR 5981. This bill permits HUD (Housing and Urban Development) to increase the annual FHA premium to a maximum of 1.55% for loans with a minimum down payment of 3.5%. Mortgage insurance is government insurance protection for...

The Perfect Storm
Updated Oct. 9, 2013
The Perfect Storm:. Low House values and Low Mortgage rates. Their a few reasons on why I believe that now is the perfect time to buy. Don't take it from me, look at the real evidence that as led me to this conclusion.. Home values have come off 40-50% percent from their highs. The big question I here often is what if...

Life after Short Sale
Updated Oct. 24, 2014
Life after Short Sale/Foreclosure and Bankruptcy. Everyone wants to know what are the rules after I either short sale or foreclose on my house. What are the time frames until I can buy again? This section will go through current rules on when you can borrow on a house again. Knowing this can help you plan and prepare to...

Having a Good Support Team.
Updated Oct. 9, 2013
In the last few months I have made a move to a new company. One thing about that experience that you always here the the grass isn't always greener on the other side. After looking into 4-5 mortgage companies, and evaluating the pros and cons of each. One critical peice was I wanted a great support team, a place...

HomePath v. FHA Financing
Updated Oct. 24, 2014
Fannie Mae REO product is called Homepath. There are over 17,000 properies available in CA and AZ. As of March, there are over 11,000 properties listed on Homepath.com in California and another 6,500 in Arizona. There are some unbelievable finds and deals on this site. The best part of all is the financing available...

FHA increasing MIP means Homepath is an even better option
Updated Oct. 9, 2013
I did a comparison a few weeks back on the payment breakdown of both FHA and Homepath. Homepath of course is only allowed on Fannie Mae REO properties, but is a great program.. Effective April 18th, monthly mortgage insurance premium will be once again going up by 25 basis points, or .25%. This will once again make it...

HOMEPATH loans
Updated Oct. 9, 2013
In Maricopa County, Arizona in April 2011 there was over 4,000 Homepath eligible homes.  All of these homes are eligble for Homepath financing.  What is Homepath?  Homepath financing is eligible for first time home buyers, second homes and investors.  The great thing about Homepath...

FHA loans with a 620 FICO
Updated Oct. 9, 2013
Effective Immediately:We are able to do FHA Purchase Only to 620 Fico . * Max 45 DTI* DU approve/eligible* Job Stability* Landlord Rating/Payment shock max 150%* Purchase Only. Please contact me for more detailed information. Matt@BakerMortgageTeam.com. www.ApproveMeHomeLoans.com.