If you’re looking to borrow money to purchase or refinance a manufactured home property you’ll want to pay close attention to this information. A manufactured home is a property that was constructed in a factory moved over on a flatbed truck and then affixed to the Earth. A prefab home or modular home is a…
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,…
If you’re looking to purchase or refinance a house providing tax returns can sometimes just be inconvenient especially if your tax returns have various extending schedules. Here’s what you need to know if you’re looking to borrow money on a mortgage without providing the laundry list of financial documentation most banks and lenders require… Not…
With the average price house in Sonoma County being $640,000 many probably would want to purchase a house however wanting to purchase a house and being able to do it are two different things. Following things should be considered if you want to buy a house successfully… The most important thing is can you afford…
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…