How child support and alimony can affect your ability to get a mortgage When you apply to purchase or refinance a home the mortgage lender takes into consideration all your monthly fixed expenses, adds them into your housing payment and creates what’s called a debt to income ratio. Also called payment to income ratio which…
Buying a rental property may or may not help you qualify for financing. Here’s what you need to know to get the most amount of bang for your buck in when buying a rental… Fannie Mae and Freddie Mac have a formula that they take into consideration including depreciation, mortgage interest paid to banks, taxes,…
Purchasing or refinancing a home requires a certain degree of time, commitment and paperwork. Here is one factor that can make your mortgage more expensive … The simple answer is time. Time is not on your side when it comes to an escrow. The mortgage process is a very bureaucratic and compliant process and borrowers…
Purchasing a house Sonoma County is easier now more than ever. However, with the average-priced house penciling in at $700,000 purchasing a house is going to require careful planning to put your best foot forward. Here are some things to consider if you want to purchase a house… Get pre-approved first. Getting pre-approved by a…
A 1031 tax-deferred exchange is a deferred exchange in the gain of an investment property used to acquire another investment property. Make no mistake this is a deferment where you’re kicking the can of the paying the property taxes obligation to some point in the future when you sell the property. Here is an example…
Proposition 13 was enacted in 1978 by voters to limit the amount of property-taxes the homeowner pays. Prop 13 protect your property taxes from increasing by more than 2% per year. It protects properties that rise in value. Following are the biggest concerns mortgage borrowers have when it comes time to keeping property taxes low……
Why your mortgage payment keeps changing. Consumers are often given little explanation by their bank on why their payments are due to a different company. When you take out a mortgage here’s what you need to know… The residential mortgage business in America has two sides; loan origination and loan servicing. Banks make many through…
Mortgage loan officers hear daily from consumers they don’t want their credit score pulled because they’re worried about their credit score dropping. Unfortunately, the internet is full of information providing an over abundance of information to consumers yet does a poor job of educating people. Most articles you will see online are nothing more than click bait…