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Currently, there is no place for the principal’s acknowledgment even though California law requires disclosure. That is a combination of high inflation and economic stagnation. Wage pressure, utility costs and grocery prices are as high as the mountains. Check that against diminishing consumer savings, soon-to-be spiking unemployment and always higher taxes, plus we’ll see much less consumer confidence. We’re not going from home price boom to bust like the mortgage meltdown days of the Great Recession.
Check out our videos below to get more familiar with the buying a home process. Get 5% Down payment assistance of the total loan amount (max $25k). 8) The Federal Housing Administration will decrease FHA mortgage insurance. 3) The median home price for Los Angeles, Orange, San Bernardino, and Riverside counties will increase 8%. Through October, median home prices increased 12.95%, according to CoreLogic.
LOAN PRODUCTS
Established in 1988, Southern Loans specializes in personal loans from $500 to $15,000 and automobile purchase loans up to $15,000. Contact us for more information on the application process or with any general questions you may have. Along with our locations, we have an online application process to get you approved without needing to leave the comfort of your home. Get a FREE quote on a 15-year fixed-rate mortgage & save thousands of dollars per year.
Mounting unemployment will mean only the brave will consider trading up on a home with the headwinds of softer home prices and mortgage rates double what they’re likely sitting on. My Premier Nationwide Lending team is built upon a reputation for excellence in client service, extensive industry experience and a dedicated commitment to our clients. My expertise in the mortgage industry and forward thinking approach allow me to adapt and rapidly respond to market changes that affect you. In doing so, I am able to offer a high level of service and provide a variety of home loan products to suit the needs of every homebuyer.
2023 predictions: Southern California median home price to slide 10%
This should be an exciting time in your life; not a stressful one. Let us ease the headache by working together to find a mortgage solution perfect for you. Our competitive rates and dedicated personal service will help you find exactly what you are looking for.
Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some, but not all sharing. Federal law also requires us to tell you how we collect, share and protect your personal information. We invite you to use our commenting platform to engage in insightful conversations about issues in our community.
A Leader in the Home Loan Industry
For those who are 62 years of age or older, a reverse mortgage is an excellent vehicle for tapping into the equity of your home. At Southern Home Loans, we work hard to offer the best possible Jumbo Loan rates in the business. Get a FREE quote on a VA Loan & save thousands of dollars per year.
The Mortgage Bankers Association reported a 0.9% mortgage application increase from the previous week. The 30-year fixed rate averaged 6.27%, 4 basis points lower than last week. The 15-year fixed rate averaged 5.69%, 15 basis points higher than last week. 7) The Federal Housing Administration will decrease the upfront FHA mortgage insurance it charges to 1.1% from its current 1.75%. The monthly mortgage insurance premium will drop to 0.50% compared with its current 0.85%.
Frequently Asked Questions about Southern Home Loans
Watching the weekly Freddie Mac fixed mortgage rate survey will be as exciting as watching paint dry over the first three quarters of 2023. We follow state law as well as federal law and will use state law to provide you with additional privacy protections. At Southern Loans, we look for a way to make you a loan. While many lenders rely on computer credit scores and out-of-state decision makers, Southern Loans believes in providing a personal experience with local decisions and local services.
We might permanently block any user who abuses these conditions. 9) The federal government won’t have any new COVID-19 mortgage payment forbearance programs. Nor will there be any new eviction moratorium programs in California. No new programs came from the federal government or California.
4) Mortgage loan volume for home purchases and refinances will decline to $1.8 trillion from this year’s estimate of $2.3 trillion by Black Knight. We’re down a staggering 47% in 2022 from the $4.35 trillion originated in 2021. Few will refinance as almost everybody is sitting at a 3% or even lower fixed rate.
Federal regulations impose certain withdrawal limitations on Regular Savings Accounts. You are not permitted to make more than six preauthorized transfers, automatic or telephonic transfers, or withdrawals from a Regular Savings Account per statement period. “Telephonic” transfers or withdrawals include those made through an automated phone system, an online banking service, or personal computer. No more than three of the six preauthorized transfers may be made by check, draft, debit card, or similar order payable to a third party.
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