Film Poster: Laddie McCabe Location: YouTube Date: July 9, 2015
This second video picks-up from the first clip and talks about the Whaley operation providing a more in-depth view of how these early homes were built.
Our filmmaker and great story teller takes us back in time through a journey highlighting fascinating details of how the Los Altos and nearby communities evolved. I didn’t realize this earlier, but most of the Whaley developments were primarilly funded throught FHA government insured loans (Federal Housing Administration), one of the most versatile home financing programs offering low-down payments and more flexible underwriting guidelines to first-time home buyers as well as many other borrowers.
For the more savvy borrowers and investors, I decided to post this comprehensive comparison chart between Fannie Mae and Freddie Mac. The chart illustrates the differences between both companies ‘loan qualifying criteria’ required of the loans they purchase.
Please keep in mind that some of these lending rules are not cast in stone and those do change over time. As lenders, we must understand and stay informed and current with all the new laws and regulations if we are to continue originating, funding and successfully closing your escrows. Some may find this information helpful, while others will learn something new.