No,unfortunately it’s not, the USDA mortgage loan program, is only eligible in certain parts of Sonoma County. Santa Rosa, California is not considered to be a less densely populated area according to US Department of Agriculture. Additionally, Santa Rosa, Rohnert Park, Cotati, and Penngrove are also not USDA eligible. If you are looking for a…
Ever here one of those stories in the break room how getting a mortgage is difficult? “I had to jump through so many hoops to get my mortgage, it was ridiculous. They keep asking me for financial information, I swear I already provided them.” Reality check-obtaining a mortgage is no easy feat these days no…
Looking to finance larger loan size? If you plan on being in the market for a mortgage loan $417,000 or larger, your credit score along with your equity will play an important role in your ability to get approved for a jumbo sized home loan. What you’ll need to know if you’re looking for a…
The cost of your educational isn’t just interest you pay on student loans, no, in fact, an ulterior cost also lurks in the mix, mortgage ineligibility. A deferred student loan usually be will be counted against your income when you apply for the big ticket debt. If you have student loan or multiple student loans,…
Looking to get your foot in the door? If you’re tired of paying someone else’s mortgage, now may be the time to pursue the American dream of homeownership. In fact, you need not put down 20% either. Those days are long gone. While you can always elect to put down the full 20% or more,…
An important home buying hurdle you’ll need to over is the relationship between the proposed new housing payment and current liabilities against your monthly pre-tax income. The payment to income ratio on debts, including other debt houses you own, play a vital role for the mortgage broker determining how much house you can bite off.…
If you have been turned down for a mortgage or quoted rates and fees that seem too high, you may have some homework ahead. The minimum credit score to land a mortgage is 620. If you have the capacity, and are in the position to do so, these credit actions may help save your credit…
No, credit reporting service companies want you to feel like you’re in control of your credit score. Some services even allow you to run statistical tests to see what actions you can take to improve your credit score, but these are by no means a guarantee especially when it comes to obtaining a mortgage. Let’s…