Purchasing a home can require a down payment plus closing costs which can equate the thousands of dollars. Here’s a way you can get your foot in the door using other people’s money… The national housing market has slowed, and refinance applications are down to the lowest level in years while purchase applications are otherwise…
Should you buy a house with monthly mortgage insurance? Buying a home can be an expensive ordeal. You don’t necessarily need 20% down or more to purchase a house. Whether or not you should put more money down or less money down is going to depend on what your financial scenario supports and what you…
If you’re purchasing or refinancing a house the 30-year fixed-rate mortgage was and is currently the staple of the broader mortgage market. The 30-year mortgage has its pros and cons and here is what you should know when looking at a 30-year mortgage, so you can decide what makes the most financial sense for you.…
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…