If you live in or own real estate in Sonoma County and need to refinance, the Harp 2.0 Refinance Program could be just the ticket to successfully reducing your interest rate and monthly mortgage payment. The Making Homes Affordable Program lifted their maximum loan-to-value requirements on March 18, 2012 for loans owned by Fannie Mae…
Lets get one thing straight… no matter what mortgage company you work with, banker, broker, direct lender all mortgage loan qualifying is the same. Fannie Mae and Freddie Mac and HUD have the same guidelines across the board, with small subtle differences from company to company. There is only one bond market and mortgage rates…
Taking out of home loan? This might surprise you, pulling credit associated with the mortgage application does not make your credit score drop. This is information circulating around the media, not totally accurate. When you are filling out a mortgage application with a prospective mortgage broker or lender, they are required to pull a copy…
Yes you can actually get a Sonoma County real estate loan, if you are unemployed. Think it’s crazy? You bet it is! Unemployment is defined as the people who are receiving unemployment benefits from the government when proactively seeking employment. This is the standard description of unemployment. There is another factor of unemployment to consider…
If you are in the process of home buying or even refinancing a Sonoma County Home, and are using mortgage loan financing your monthly reoccurring debts are going to be used in determining your maximum mortgage amount you can qualify for. This will ultimately determine whether not your loan is approved and subsequently funded. In…
The role of the second mortgage in a refinance situation can sometimes be a challenging obstacle to overcome. Second mortgages usually come in the form of a (HELOC) home equity line of credit or an equity line behind a first mortgage secured against a primary residence, second home or investment property. As values in Sonoma…
As we all know getting a mortgage loan today can be challenge. Dealing with adverse credit can be somewhat unpleasant, but necessary to procure mortgage financing. The credit score is an indicator of how likely you are to default on a monthly debt obligation in the next three months. The higher the credit score the…
Are you considering buying a house? If yes, your monthly debt obligations play at significant role in your ability to qualify for a mortgage loan. So the next time you are contemplating purchasing a great new car or truck, be aware of the fact the new auto loan payment will reduce your ability to get…