Reduced Mortgage Insurance Premiums Allow More Buyers to Qualify

CF Funding is happy to share that the Department of Housing and Urban Development recently announced a 50 basis point reduction in MIP rates. In the HUD’s Mortgagee Letter 2015-01 , they shared that the new MIP rates will take effect January 26^th. The executive order announced January 8^th that the annual premiums on FHA backed loans with terms greater than 15 years will be reduced from about 1.35% of the loan balance to .85% of the loan balance.*

Since the change is only in effect for borrowers with case numbers issued on or after January 26^th, FHA is allowing cancellation requests for borrowers currently in process. Ask your CF Funding loan officer to see if you could be eligible for this cancellation!

According to Jann Swanson of Mortgage News Daily, “For borrowers who have recently closed an FHA loan which has been funded there will be no immediate recourse.  They will have to wait the mandatory 210 day period  and have made six payments on their existing FHA loan before refinancing through a streamline loan in order to secure the lower MIP.”

*for most FHA loans. 

Self-employed buyers can now Qualify using bank Statements!

Contact a CF Funding Loan Specialist for more information about this great program! Call 888-344-4080 or visit www.cffunding.com today.

Loan approval is subject to credit approval and program guidelines. Not all loan programs available in all states for all loan amounts. Interest rates and program terms subject to change without notice. Residential M ortgage Licensee # Illinois M B 0005978, California 6031932, Colorado, Tennessee 11 4055, Florida M LD1082, Virginia MC-5825, Texas. Company NM LS # 202670.

Freddie Mac Home Possible - Available at CF Funding - Great for First Time Homebuyers

The Freddie Mac Home Possible program is great for first-time homebuyers and those with low to moderate income, who want as low as 5% down payment (can be 100% gift!).

This program is offered at CF Funding! To find out more, contact a loan specialist today! (888)344-4080

CF Funding Opens New Location, Ribbon Cutting Ceremony in Plainfield

CF Funding is happy to announce the grand opening of a new location in Plainfield, IL. This family-owned mortgage lending company has been in business since March of 2000, and is proud of their A+ rating with the BBB for the past 5 years.

The firm offers both purchase and refinance mortgages, including
 conventional, FHA, VA and Home Affordable Refinance Programs (HARP). CF Funding works closely with each client to find the best solution for their needs. Clients of CF Funding have described the company’s loan officers as “extremely professional, helpful in overcoming barriers, creative in developing solutions to secure affordable financing, and very responsive to my questions and concerns.” The lender now has two locations in Illinois, but also provides services to clients in Colorado, Tennessee, and California.

Amanda Meath, branch manager at the new Plainfield location, is excited about the new opportunities that area residents will have to refinance, purchase a home, or consolidate debt. “We are extremely happy to be located in the heart of beautiful downtown Plainfield and I’m excited to put my 16 years of experience towards helping clients obtain the ultimate American dream of purchasing their own home!  I’m also excited to work with existing homeowners to refinance their current mortgage.  As a mortgage banker with the ability to also broker mortgages, CF Funding offers a vast majority of loan programs and I’m looking forward to sharing my knowledge of the lending world to help homeowners manage their mortgage.”

According to John Kocher, President of CF Funding Corporation, “We have always looked out for the customer’s best interest and strive to get them the best mortgage rate possible. Expanding our business will allow more homeowners to save money and to achieve the goal of purchasing or refinancing a home.” The lender looks forward to the growth of the housing industry in 2014 and will continue to provide quality service in the years to come.

To contact CF Funding at their new location, visit 24113 Lockport St. Suite B East, Plainfield IL 60544, call (815)317-0589 to set up a consultation, or visit the lender online at www.cffunding.com.

Follow CF Funding on facebook at www.facebook.com/cffundingcorp or on twitter at www.twitter.com/CF_Funding ! 

UPDATE: Our PACC Ribbon cutting ceremony will be held at the new location on Thursday April 10 at 4pm. Please join us to see what your new CF Funding location has to offer the Plainfield Community!