With incredibly low rates week after week, the ability to save money on your mortgage is just a phone call away

U.S. Senators Brian Schatz (D-HI) and Sherrod Brown (D-OH), both members of the Senate Banking Committee, introduced new legislation to protect people’s credit scores during the coronavirus outbreak. As some families struggle with job losses or reduced incomes, they may fall behind in paying their bills. These late payments could hurt their credit for years and hold them back from accessing credit, taking out a mortgage, applying for a job, or renting an apartment long after the crisis is over.

Freddie Mac is invoking the same types of measures to protect homeowners in the face of the COVID-19 pandemic as it has previously taken in other natural disasters such as hurricanes. The company announced Thursday morning that it is suspending all foreclosure sales of properties securing its mortgages and evictions of borrowers living in homes owned by the company. That suspension is effective immediately and will extend to May 17, 2020. Freddie Mac said that period could be extended if the Federal Housing Finance Agency directs it.

Mortgage rates are primed to fall again after the Federal Reserve’s latest dramatic policy moves to combat the economic impact from the deadly coronavirus pandemic. The Fed on Sunday said it will begin buying $200 billion of mortgage-backed bonds, a move that will stabilize and likely lower mortgage rates, which moved sharply higher last week.

According to the National Association of Realtors a whopping 24% of new home buyers shared that they are saddled with student debt and according to credit.com, the average student debt amount is $31,172. This is definitely not chump change an depending on the interest rate, amount paid per month, and any deferments granted, this can balloon well passed this. Worry not though, if you’re thinking of buying a home and aren’t sure if you can afford it, there are solutions and options for you. In this weeks blog post, we will be going over 5 easy steps that you can take to prepare you for home ownership without having to pay off your student loans completely to zero.

In Southern California homes are always in demand. Even if the rest of the country is in a buyer’s market, Southern California is a red hot seller’s market with more buyers than homes for sale. So how do you set yourself apart as a buyer when you’re competing with multiple offers on the home of your dreams. Cue the entrance music for the “Earnest Money Deposit” (EMD).

The term title refers to a document that lists the legal owner of a piece of property. Titles can be issued to depict ownership of both personal and real property. Personal property is anything that doesn't include real estate such as appliances, antiques, or artwork. Real property, on the other hand, is anything tangible like real estate. Title for real property must be transferred when the asset is sold and must be cleared for transfer to take place. This means it must be free of liens or encumbrances that could pose as a threat to its ownership.

Sometimes we need a little extra help now and again, even when it comes to buying a home. In this weeks article we go over what is legally allowed, and the rules behind accepting a “Gift” of funds for the purchase of a home.

Private Mortgage Insurance (PMI) is not a bad thing. It allows first time buyer to buy a house with less than 20% down and enjoy the fruits of home ownership sooner rather than later. Yes, you will be paying PMI which adds to your monthly payment, but it can be erased over time. Learn what needs to be done and how to prepare for this in this article.

Did you find the perfect first time home only to be told you can't buy it right now? The 90-Day Rule may be the culprit. Before you denounce it though, learn what it exactly is and how it's actually helping you make a better investment.

You already know you need a down payment to buy a home. Do you know how much you need for closing costs? At American Freedom Funding we aim to make the closing costs easier to understand and easier to plan for. Check out our latest blog article detailing what you need to set aside when it comes to buying a house.

The loan program you use to buy a home in Southern California matters. You can go conventional, FHA, and many more. If you're unfamiliar with what an FHA loan is, look no further. Your lender of choice is here to help. Read on to learn more about what an FHA loan is.

We hear it all the time but what exactly is Escrow? Find out what it is, how much it costs, and why we even have it in the first place in our latest blog article at American Freedom Funding. Mortgage financing made simple, better, faster.

The starter median home price in 2019 Q3 rose to $238,200, but the monthly mortgage payment decreased to $1,019, assuming 10 percent down. This means homes are more affordable now than before. Contact us to see how much you qualify for today!

Whether you’re buying for the first time or the fifth time, investing in land, or simply need to pull out some of the equity in your home, determining the right mortgage for your needs is the first step. Learn what the differences are and how we can help you get started today.