First Priority Financial Inc.

FHFA raising loan limits in 4 California counties

The Government is trying to increase lending in 2015! FHFA told us they’re not lowering any more county limits (phew!) and they’re raising some others: Existing FHA Borrowers in these 4 counties (below) are now eligible to refinance into conventional financing. What does this mean? They’re ...
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Daily update...rates moving up slightly after positive news

October Headline CPI 0.0% vs est -.01% Core (Ex Food and Energy) 0.2% vs est of 0.1% Initial Weekly Jobless Claims 291K vs est of 285K So, just like the PPI readings this week, the higher costs were passed on to consumers. Jobless were higher than expected but the streak of sub-300K is still ali ...
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Fannie Mae lowers timeframe to purchase/refinance after a short-sale, foreclosure, or bankruptcy

Fannie Mae reduced its mandatory waiting period after a pre-foreclosure, short sale, or bankruptcy in October, 2014. In August of 2014, Fannie Mae and Freddie Mac increased the waiting period to 4 years but has switched back to a period which is s ...
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Home flipping guidelines tightening up...

FHA Home Flipping Waiver About to End Can you still do a short-term house flip using federally insured, low-down payment home finance money? That's an important question for buyers, sellers, investors and realty agents who've taken part in a nationwide wave of renovations and quick resales using ...
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Happy Holidays!

It must be the holiday season with so many gifts coming in. What else could explain good economic news combined with lower interest rates and lower oil prices? Even though the stock market is retreating, keep in mind that the Dow was below 12,000 approximately three years ago. Three years ago the unemployment rate averaged just over 8.0% and it is ...
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Market Update...Rates low, jobs increasing

On the other hand, the progress we have made will cause a ripple effect throughout the economy. We are on pace to add almost 3 million jobs this year and this will increase consumer spending which will create more jobs. And some of this spending will make the real estate market stronger -- whether i ...
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