FHA Home Loans in Sacramento: Chief Factors Borrowers Should Consider

The mortgage landscape has changed drastically over the last six years after the country learned its lesson the hard way. Back then, lenders were willing to provide Sacramento home loans even to those who could barely afford monthly payments.

Today, the mortgage industry doesn’t want to walk on tightropes anymore. Lenders are more circumspect with loan approvals and consequently conduct stricter checks regarding borrowers’ financial profiles. Such is the case with FHA loans involving homebuyers who have high loan-to-value (LTV) ratios.

http://ironpointmortgage.com/fha-home-loans-in-sacramento-chief-factors-borrowers-should-consider/

Jumbo Home Loans in Sacramento: Bracing Hard for the Winds of Change?

When consulting with a mortgage specialist, they can help you take a closer look at the jumbo loan reforms and the associated options. According to a bank official interviewed for Andriotis’ article, lenders may use the reforms to increase rates on a 30-year, fixed-rate jumbos. This may lead some borrowers to consider an adjustable-rate mortgage (ARM) instead. Many factors are involved in these major decisions that is why it is always best to have an experienced consultant on your side.

In light of the CFPB reforms mandating lenders raise requirements for “nonqualified” jumbo borrowers on Sacramento home loans, a company like Iron Point Mortgage will have the flexibility to help you prequalify on a loan and set you up with the right lender.

http://ironpointmortgage.com/jumbo-home-loans-in-sacramento-bracing-hard-for-the-winds-of-change/