One of the challenges home buyers face when purchasing a house for the first time is of their income should go towards a mortgage payment. This number varies greatly and just because the bank tells you you can take on a certain payment to income ratio that doesn’t necessarily mean that you should. Here is…
You need to be on top of your game when getting a home loan. Your credit score is an integral part of being able to purchase a house or refinance a house. Here are some things to know when it comes to credit… The free credit score you get from Credit Karma or your bank…
Getting a mortgage in 2018 there is a bureaucratic and compliant process with a significant amount of paperwork involved. Following is some tips on various loan programs available in the marketplace you may not know… Conventional mortgages they will go up to a debt to income ratio of 50%. Here is the kicker if your…
6 people whose mortgage and housing advice ought to be taken with a grain of salt Buying a home or refinancing a mortgage is incredibly important financial decision that requires careful planning and good timing. Fact of the matter is everyone has their opinion about what you you should and should not do. Here is…
If you’re purchasing or refinancing a house with less than 20% Equity. You’re going to be subject to having PMI. Here’s what you need to know regarding private mortgage insurance with regards to financing your house… When you have less than 20% equity on your house the mortgage company is going to require you to…
To purchase a rental property the consensus down payment needed 20%. However, the requirement to purchase a rental property is much lower than you think. Here’s what you need to know if you’re buying a rental property…. To purchase a property for rental income purposes 15% down is the requirement. If you’re purchasing a rental…
The Sonoma County housing market has an average housing price at 648,000. Housing prices in Sonoma County are indeed expensive. Following is what you need to know if you plan to buy a house in Sonoma County in the current market… 1. You don’t have a down payment or any access to cash. In a…
The median house price in Sonoma County recently hit $670,000. If you feel there is simply not enough inventory to choose from you may want to think again. Here is why… First order of business-what does your financial capacity support purchasing? Your buying power is your future. Put another way if your buying power supports…