You can get rid of mortgage insurance PMI sooner than waiting the full 30 years on that loan! Lots of people considering taking out a mortgage whether it be purchasing or refinancing, do not want to pay mortgage insurance. The reality is MI is due to economic factors beyond our control. Mortgage insurance is required…
Here’s a mortgage tip: if you are looking for the best interest rate on a Jumbo Loan consider a 5, 7, or 10 year product. The availability of Jumbo Loans in Sonoma County through a Fannie/Freddie Lender have nearly evaporated since 2007. However in the last several months, Jumbo have re-emerged as an available product…
The Debt Ceiling has resulted in low mortgage rates, get a rate quote today. For the last few weeks the Debt Ceiling news has rattled the financial markets causing the stock market to sell off. This ebb and flow of money has caused that money to flow into the bond market driving yields on bonds…
Understanding the mortgage providers are, will help you select the right mortgage company. There are lots of different mortgage companies available to choose from in today’s lending environment. These sources include private mortgage banks or depository institutions. There are also individual private parties otherwise known as hard money, but for these purposes we will be…
The new Delayed Financing Rule allows you to take cash out of a property you just purchased within the last six months! If you paid all cash for a home within the last six months and want to pull cash out of the property you are now permitted to do so. The Delayed Financing Rule…
Loan qualifying for the self-employed hasn’t gotten all that more difficult, it just feels like it has. Self-employed borrowers historically, have always had a difficult time with the loan qualifying. Stated income loans used to be the main outlet for these folks. These folks tend to write off all business expenses, and after factoring in…
Your credit score is an indication of how likely you are to default on a debt obligation in the next 30 days. The credit score is made up of many different components. All a credit score is, is an indicator or rather a predictor of how likely you are to default on a monthly debt…
Finding a bad credit mortgage loan is this the first step to completing a purchase or a home refinance. Bad credit mortgage loans are surprisingly available. There are loans out there for people who have unique credit situations. Lenders charge what is called risk based pricing which prices out a loan according to a borrowers…