Santa Rosa, CA (PRWEB) June 1, 2010
Essex Mortgage's primary customers are homeowners who appreciate their wide selection of loan programs, their fair pricing and outstanding customer service. Many of their customers return for their home loans time after time – and even refer their friends and families for assistance.
Essex Mortgage Bank s major strength is in their people – hard working, dedicated professionals with years of mortgage banking experience. They foster an entrepreneurial and disciplined environment, made up of a focused team of people who really know the mortgage business, and who love what they do. They demand excellence, reward innovation and encourage continued learning.
Essex Mortgage Banks commitment to producing quality loans has resulted in an excellent reputation among investors, the Real Estate community, and the general public. after having weathered the financial storms of recent years and emerging a stronger and more stable institution they are now on the path of continued growth..
At Essex Mortgage Bank offers a wide range of loan programs to fit just about everyone – Conventional loans with competitive rates, FHA and VA loans (great for first time buyers) and high balance (Jumbo) loans are a great option to use when purchasing or refinancing a luxury home.Essex Mortgage Bank also has a proven track record of financing some of the premier investment properties located in the major metropolitan areas of California.
Essex Mortgage Bank is advising clients to take advantage of a once in a lifetime opportunity to take full advantage of a special program that just went into effect this past month titled the California Tax Credit Incentive.The program was designed to help boost start the dismal housing market.Loan officers,underwriters and funders have been ramping up their operations and preparing for the Mad Dash to Purchase a Home.The state of california program A.B 183 that is now in effect knowing that many buyers won't save the full $10,000, the state is awarding more than $200 million in credits, hoping that the actual cost to the general fund will come in right around $200 million. The actual cost won't be known for more than three years.
AB 183 the California Tax Credit is for the amount of $ 10,000
AB 183 will provide $200 million for home buyer tax credits, allocating $100 million for qualified first-time home buyers of existing homes and $100 million for purchasers of new, or previously unoccupied, homes. The eligible taxpayer who purchases a qualified personal residence on and after May 1, 2010, and on or before Dec. 31, 2010, or who purchases a qualified principal residence on and after Dec. 31, 2010, and before Aug. 1, 2011, pursuant to an enforceable contract executed on or before Dec. 31, 2010, will be able to take the allowed tax credit. The credit is equal to the lesser of 5 percent of the purchase price or $10,000
Another word of advice or reminder - Once you loan is pre- approved do NOT go out and make any large purchases such as a new car or a boat because Beginning June 1, 2010, just before settlement, Fannie Mae will be running last minute credit report checks to ensure borrower’s credit has not changed since loan application.If your debt to income ratio or credit score drops you could recieve a last minute denial.
And for all your first time homebuyers they have special programs just for you .Here are some of the
California first time home buyer programs offered thru Essex Mortgage Bank
Cal30 Conventional Loan Program
This conventional Cal30 first mortgage loan program is designed to enhance affordability and homeownership opportunities by offering a fixed interest rate that will not change during the entire loan term. It has a maximum Loan-to-Value (LTV) of 95% and a maximum total Combined Loan-to-Value (CLTV) of 102%. This program is intended for first-time homebuyers who meet specific income requirements and who are purchasing a new or existing home in Californi
SMART Loan Program
This program offers a special reduced interest rate and up to 100% Loan-to-Value (LTV) financing for designated CalHFA-owned properties. If you are a first-time homebuyer and meet other eligibility criteria, you may qualify to purchase one of these homes using special financing from CalHFA.
California Homebuyer's Downpayment Assistance Program (CHDAP)
The Small Rental Properties Program (SRPP) helps local governments rehabilitate rental properties with 11 or fewer units to increase or preserve the stock of low-income apartments, particularly in small rural communities. Governments are encouraged to structure their programs to meet specific, local rental rehabilitation needs.
HomeOpeners®, a Mortgage Protection Program
HomeOpeners helps borrowers stay in their home, make mortgage payments, and maintain their credit standing in the event of job loss. This program is offered as part of primary mortgage insurance at no additional cost to the borrower or lender.
HUD - Housing Choice Voucher Program
Enables qualified first-time homebuyers to receive monthly assistance for homeownership expenses in lieu of monthly rent aid.
USDA 100% Rural Loan Program with no M.I -
The USDA (United States Department of Agriculture) Home Loan is a very little known 100% financing home loan available to people buying homes in rural areas of California and the rest of the U.S. This is another option for those who qualify for VA loan, but may already have a VA in place and need another 100% financing solution
The Santa Rosa California branch is managed by Jeffrey Martino Young with 23 years of mortgage banking experience you can feel at ease knowing that your loan is in the hands of a seasoned professional with years of banking experience.(http://www.fhasubmissions.com):
Essex Mortgage Banks goal is to make the loan process as simple and worry-free as possible.They pride themselves in offering the highest level of customer service. Whether its a refinance or a purchase their sole purpose is to satisfy the customers needs.
"By putting the clients first they are assured that all of their transactions will close quickly and easily. You should give them a call becoming a California first time home buyer today is only one step away !!!!.
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