Real estate investors get targeted the most by multiple finance property restrictions the majority of mortgage lenders enforce. To set the record straight a multiple financed property situation is when there is more than four financed residential properties by anyone borrower/consumer. Multiple finance properties include every other residential property with debt- beyond the borrower’s primary…
In the last few years, many consumers bought homes with low down payments and have seen a dramatic rise in their home-equity-opening the door to trade up to more a desirable homes and/or locations. Perhaps the family is expanding and or timing is right to trade up. As attractive as the concept sounds, due to…
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…
Well? Yes and No, read on…. Like it or not, your relationship with money can be best summed up on paper by how much consumer debt you carry, more specifically in the form of credit cards. Credit card debt is a double-edged sword, especially on high ticket items, like a house purchase. On one end,…
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…
Trying to procure mortgage credit right now? From higher interest rates, to rising house prices to the contraction in buying power, securing financing, for many can prove to be no easy endeavor. As prices, and rates rise in tandem, lenders will still place the weighted emphasis on “real income” as that’s what the mortgage loan is…
To purchase a home you will need a down payment of at least 3.5% of the purchase price. Gone are the days of no down payment alternatives, down payment assistance, and seller offered programs to come up with the money needed to close escrow. Here’s five ways to come up with the down payment to…
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…