It’s not surprising interest rates are on the rise as the fed has committed to reducing their mortgage bond buying starting this month. There is an array of factors affecting a mortgage rate things like; home occupancy, loan type, and even property type. Two factors carry the most weight when shopping mortgages… How Lender Sees…
The FHA is aimed at promoting home ownership for consumers who do not ” fit the box” by traditional credit standards, high credit score, big equity, low debt ratio etc. The FHA supports the housing market by offering an alternative financing vehicle for homeowners and buyers with little equity. The FHA makes loans on primary…
Refinancing can be less appealing for many homeowners because the clock resets each time. In some circumstances, especially if you’re a few years away from paying off the home in full a refinancing may even not make sense. Ways to refi without starting the term over… The traditional 30 year fixed rate mortgage remains most…
Home-equity has reappeared for many Sonoma County homeowners, making home improvement projects a reality. Redoing the kitchen, adding on a bathroom, how about replacing the roof? All of these and can be a pricey investment. Here are three ways to cut the mustard… Top 3 Loan Solutions Home-equity line of credit a.k.a. HELOC– the program…
As this exuberant real estate market drives the housing sector, the chance to utilize home equity, may be a smart move. Rewind to March 2011, Fannie Mae lifts the guidelines surrounding the six month “hold time” (time holding title to a property) allowing cashing out of a recently acquired property. The change has since allowed…
Getting a mortgage anytime soon? Two types of home loans are inherently pricier than their traditional mortgage counterparts and we’re not talking subprime or private money. If your credit score is beneath 680 or you have little equity or you have credit blemishes, fact is borrowing money will cost you… FHA Loans and Conventional Loans…
For anyone who has tried to apply for a mortgage and had student loans, they know whats it’s like to be scrutinized and questioned by the mortgage company over the validity of the those obligations. Like other forms of debt, like car loans or credit cards, student loans fall into the same classification, debt made…
Own an investment property? Thinking about buying a property for income producing purposes? It’s going to cost…. For years, Fannie Mae and Freddie Mac have charged premiums for individuals purchasing property for the purposes of generating income than for primary residence homes and rightfully so, higher the risk, higher the cost. Conversely, opposite holds true,…