California Loan Programs
California Mortgage Loans.net specializes in an array of loan programs designed specifically for California homeowners seeking the best home financing options. Shop her for local lenders that feature jumbo fixed rate refinancing, interest only loans with non-conforming loan amounts. Our participating lenders also provide aggressive 2nd mortgage products, FHA home lending, reverse mortgages and home equity credit loans.
Reverse home mortgages can offer loan amounts as high as $10 million, depending on available equity in the home, the borrowers' ages and current interest rates. The Home Equity Conversion Mortgage Program has been in California and Florida so far. Like other reverse mortgages, California Mortgage Loans’ program is available to homeowners 62 or older, and permits them to receive lump-sum cash payments, monthly checks and credit lines. No monthly payments to the bank are necessary during the lifetimes of the borrowers, as long as they remain in their houses. At the borrowers death or sale of the property, the balances paid out, plus interest and fees, become due and payable to the mortgage lender.
Housing New - Home Prices Index Rise by 10.2% - CoreLogic®, a leading residential home services provider, released their February CoreLogic HPIŽ report. The report revealed that house prices nationally, including distressed sales, increased 10.2% on a year- over-year basis in February 2013 compared to February 2012. This change represents the biggest year-over-year increase since March 2006 and the 12th consecutive monthly increase in home prices nationally. On a month-over-month basis, including distressed sales, home prices increased by 0.5% in February 2013 compared to January 2013*.
Excluding foreclosure and short-sales, house prices rose on a year-over-year basis by 10.1% in February 2013 compared to February 2012. On a month-over-month basis, excluding distressed sales, home prices increased 1.5% in February 2013 compared to January 2013. Distressed sales include short sales and real estate owned (REO) transactions.
March 2013 home prices are poised to rise 11.4% year over year from March 2012 and by 2.0 % month over month from February 2013. The CoreLogic Pending HPI is a proprietary and exclusive metric that provides the most current indication of trends in home prices. It is based on Multiple Listing Service (MLS) data that measure price changes for the most recent month. "The rebound in prices is heavily driven by western states. According to Dr. Mark Fleming, chief economist for CoreLogic, "8 of the top 10 highest appreciating large markets are in California, with Phoenix and Las Vegas rounding out the list."
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