Mortgage Blog

I am now an approved lender for NHSIE down payment assistance programs for the cities of Banning, Rancho Cucamonga, and Highland. I also work closely with the City of San Bernardino down payment assistance program. I am still a participating lender for the City of Pomona down payment assistance program.

The programs are generally for low to moderate income households.

These programs as well as our Community Fund and CalHome, can help homebuyers make a down payment on a home of their own.

2006 Fact: NHSIE originated over $1 Million in Down Payment Assistance loans and grants.

Please contact me regarding details of programs and how I can qualify our clients.

The Federal Reserve reduced its interest rate by three-quarters of a percentage point on today, to 2.25 percent. This is the sixth time the Fed has lowered rates since mid-September. This impacts how much consumer’s pay on credit card debt, home equity lines of credit and auto loans.

Also on Sunday, the Fed approved a one-quarter cut in the discount rate, the overnight rate at which the Fed loans money to banks, to 3.25%.

In other news, The Fed also will lend to the 20 firms that buy Treasury securities directly from it. Also, the Fed provided up to $30 billion to JPMorgan Chase to help it finance the purchase of Bear Stearns.