Category Archives: Refinancing with the “Home Affordable 105%


Home Affordable Refinance Quiz

 Do you live in the home you’re trying to refinance?

  1. Yes
  2. No                               Answer can not be no


Have you been past due on your mortgage within the last 12 months?

  1. Yes
  2. No                               Answer can not be yes


Is the loan owned or guaranteed by Fannie Mae or Freddie Mac?

  1. Yes
  2. No                               Answer can not be no


Is the loan you’re trying to refinance the first lien?

  1. Yes
  2. No                               Answer can not be no


Calculate the loan-to-value (LTV) ratio.


Outstanding loan balance $ __________

Home’s estimated current value  $ ____________

        **The LTV amount for your first mortgage, is limited up to 105%; of the current appraised market values, not to include your second loan. The second loan will be re-subordinated and applied..  The process is truely a value add if you are looking for payment relief; rate reduction; and/or the combination of both? The process is relatively easy and low in cost to research. The application process does have fee’s associated and will be applied to your loan with a immediate out of pocket up front cost of $25.00…


            Your Loan LTV ratio on your first loan, is:   ______


            The next step is to gather information about your mortgage and your finance that you’ll need in order to get help from your servicer or a housing counselor.


Contact me (Calvin), today for your personalize consultation and pre-approval…


Calvin Kyles, Origination/Broker

Sunset Mortgage Co

503-975-2769 Direct Referral Code 482  

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Home Affordable Lending, Today!!!

It is very interesting that so few people have taken advantage of the New “Home Affordable” Mortgage Refinance Program: Established to help borrower(s) and families refinance – even with the lost in equity, income, and change in lifestyle. This program is not just for that in financial trouble; but, for every family needing to make financial adjustment in support of being economically successful – starting, TODAY!

In this case, a borrower looking to refinance today may have been up against a few road blocks. The thought(s) of lowering the current home loan rate or changing from an Adjustable Rate Mortgage, too a Fixed Rate had been heavily shadowed by ire thoughts of a bruised national economy. We know this over shadowing has come by ways and losses surmountable in number of inflated cost. The superficial values that mount up – to as much as  a $75,000.00 a single home, is now causing excruciating financial harm to many families and investors. The homes have kept there illustrious appeals, high quality materials glamour and retained there eclectic Ole’ Age Green building images. Every single home one of these homes muster the assumed increase in pricing through idealistic rehabilitation and spec home development values in square feet dollars. Well, do not feel bad; as you are – not alone! Yes, I am right there also. We are all on this boat together – can you believe it?  What a way to go… What did we do to get this far:  Add a sense of  Green Building with reusable materials, creative water down spouts with decorative metals, a little bit of marble and tile back splash, stained glass or crowned moldings; and, then a new age toilet..  Crap… It was good while it last. But, it is over and the reality is that home over the past few years; just as – cars, depreciate with miles.

Hold it! I know – you are more realistic and rational than I could ever imagine. All you did was purchase and/or refinance based upon your income at the time and the values of homes in the area that may have lead you to also complete worthy and much needed home improvements. Now the ether has worn off, reality of the payment(s) and interest charges has now set in…  The main wage earner in the home has had a decrease in pay scale or even lost in job; with the market being as such the payment is getting ready to readjust; and, that once held equity has now deteriorated. It may appear, as if – the conditions and circumstances of the housing market might not allow for anything favorable to stand out in view of as a possibility. Even more so, the potential to get a Fixed Rate Mortgage is not far out your reach

Let’s get past the crying and just accept the facts of life. It was nice to have a great value… The reality is; and, should be said: “My family has a roof over its head.  I am teaching my children a very important lesson through “Home Ownership”! What I need to accomplish now – keeping what I have worked so very hard to get:  My home!” 

What are the steps…and the potential out come? My current mortgage does/doesn’t have mortgage insurance; I have mitigating circumstance(s) that have caused me to now have financial challenges; or I just need to take advantage of the great low rates.

Well, I could keep going on about how or why I may believe it not possible to refinance and/or take advantage of the great rates… But, if I do not get off the emotional roller coaster centered on our state of emergencies and economy; my mortgage payment will be completely out of whack. How do I at least recoup some of the loss, interest being paid and taxes?  The reality is: There is a Loan Program set and established through the Stimulus TARP Funds, that will allow me to potentials lower my payment $200 too $350 a month in payment. In doing so, it will place my loan in alignment with the current market adjust my taxes and lower my interest rate. The qualifying factor(s) are highlighted throughout the text. The other factor(s) are, if my loan is a Fannie Mae Loan the program is assembled for me. If I have a Freddie Mac Loan my program will be out after May 4th, 2009. So, we need to find out how this will work and what is needed of me. This might just be the program – that was designed for me and my family.  It just had not made any sense, as of yet…but, now it does?

Let me (Calvin), in a non-agressive approach; give me, the explanation of the mortgage products. This should be clear and very un-technical as to what the programs will do for your family. Yet, it will explain how it will save you money and allow you to lower your payment and interest rate together.

In laymen’s term(s): The, “Home Affordable Program” – will allow you to Refinance your First Mortgage; lowering your interest rate, extend the term to meet the payment and reduce your payment depending upon your desires in the refinance structure… This process can save you on your interest and taxation payment(s); which will lower your overall Principle Payment. Yet, it requires your Second Lender; if you have one to Re-Subordinate behind the First. Call me and allow me to explain the process, clearly: I, will deliver you the complete option(s) in your personalized, refinance model. Whether you take advantage of the “Home Affordable Program, or see a bettter option in considering a standard FHA, Conventional, and/or USDA Home Loan – TODAY!

Also, as a First Time Buyer – you may have a one time Tax Deduction; of up too: $8000.00… Contact me, today for more information…

Calvin Kyles, Origination/Broker – Sunset Mortgage Co –  –               503-976-2769 direct – Calvin Kyles on Facebook – Helping one family at a time…