Many Sonoma County Loans have been denied due to loan-to-value restrictions imposed by Fannie Mae and Freddie Mac and an overall tight credit market. Last year the Obama administration announced the no loan to value refinance program for loans owned or guaranteed by Fannie Mae and Freddie Mac. For the last several months, many have…
Thinking about purchasing or refinancing using the Sonoma County mortgage? If yes, the mortgage insurance premiums on FHA Home Loans are set to rise again on April 1. The Federal Housing Administration continues to keep a close eye on their capital reserves and as a result, have instituted higher costs on FHA Home Loans originated…
Buying a house or refinancing a Sonoma County Mortgage? Since January 2012, there’s been a trend towards conventional mortgage loan financing. Conventional financing is your standard conventional/conforming loans ie: 30 year fixed rate mortgages, 15 year fixed-rate mortgages, 20 year fixed-rate mortgages etc. Conventional mortgages are the most basic types of loan products. They are…
Taking out of home loan? This might surprise you, pulling credit associated with the mortgage application does not make your credit score drop. This is information circulating around the media, not totally accurate. When you are filling out a mortgage application with a prospective mortgage broker or lender, they are required to pull a copy…
Getting your home loan request denied, is certainly not a fun thing to deal with. Lots of times certain mortgage companies have internal mortgage loan underwriting requirements which might be more constrictive than a competitor of theirs. Not every mortgage company has the same set of guidelines and standards. Fannie Mae and Freddie Mac and…
Yes you can actually get a Sonoma County real estate loan, if you are unemployed. Think it’s crazy? You bet it is! Unemployment is defined as the people who are receiving unemployment benefits from the government when proactively seeking employment. This is the standard description of unemployment. There is another factor of unemployment to consider…
Thinking about getting a mortgage loan? If that is a yes, purchase or a refinance mortgage, make sure your federal income tax returns are clean. Mortgage lenders will run a fine tooth comb through your federal income tax return looking for any losses in income which reduces your ability to qualify. Getting a home loan…
If you are in the process of home buying or even refinancing a Sonoma County Home, and are using mortgage loan financing your monthly reoccurring debts are going to be used in determining your maximum mortgage amount you can qualify for. This will ultimately determine whether not your loan is approved and subsequently funded. In…