Mortgage Shopping Archives - Sonoma County Mortgages https://sonomacountymortgages.com/category/mortgage-shopping/ Thu, 22 Aug 2024 18:22:16 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://sonomacountymortgages.com/wp-content/uploads/2023/05/cropped-scm2-sonoma-cm-2-32x32.png Mortgage Shopping Archives - Sonoma County Mortgages https://sonomacountymortgages.com/category/mortgage-shopping/ 32 32 New Fannie Mae Mortgage Value Rules: What Homebuyers and Refinancers Need to Know https://sonomacountymortgages.com/2024/09/fannie-mae-value-2024/ Tue, 03 Sep 2024 15:22:04 +0000 https://sonomacountymortgages.com/?p=518325 Modern house with a 'Sold' sign in the front yard, symbolizing successful real estate transactions. In the background, a clipboard with appraisal documents and a magnifying glass emphasizes the importance of accurate property valuations and working with an experienced lenderAs of October 31, 2024, Fannie Mae has introduced new requirements that will significantly impact how property values are assessed in conventional loans. Whether you’re looking to buy a home or refinance your current mortgage, these changes make it more critical than ever to work with an experienced lender. Here’s what you need to know.…

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]]> VA Loans in Community Property States: How to Manage Spouse’s Credit and Debt in California https://sonomacountymortgages.com/2024/07/va-loans-community-property-ca/ Wed, 31 Jul 2024 15:40:10 +0000 https://sonomacountymortgages.com/?p=518295 VA Loans in Community Property States: How to Manage Spouse’s Credit and Debt in CaliforniaNavigating VA Loans in Community Property States: A Guide for Married Couples in Sonoma and Lake County, California Buying a home is a monumental step, and securing a VA loan can be a fantastic option for veterans looking to make that dream a reality. However, living in a community property state like California adds a…

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]]> How to qualify to buy a new home by renting out your current one https://sonomacountymortgages.com/2024/03/how-to-qualify-new-home-rent-out/ Tue, 05 Mar 2024 01:22:15 +0000 https://sonomacountymortgages.com/?p=518147 5 practical ways to increase your purchasing power when buying a homeAre you considering purchasing a new home, but already own a property and are worried about not having enough income to support two house payments? You’re not alone. This is a common concern for many homeowners who are looking to upgrade their living spaces. However, there are options available to you that can help you…

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]]> New Mortgage Loan Limits for 2023 https://sonomacountymortgages.com/2022/12/loan-limits-for-2023/ Sun, 04 Dec 2022 18:00:43 +0000 https://sonomacountymortgages.com/?p=17512 How to avoid getting a jumbo loan due to CoronavirusThe Federal Housing Finance Agency announced on Tuesday, November 29th the new loan limits for 2023. The new conforming loan limit has increased and has been year over year 7 years in a row. If you’re thinking about purchasing or refinancing a home in 2023 here is what you need to know… The loan limit…

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]]> Why your income is your lifeline to finance a home https://sonomacountymortgages.com/2020/01/income-home-finance/ Thu, 23 Jan 2020 20:00:05 +0000 https://sonomacountymortgages.com/?p=16123 Mortgage Word Cloud ArtGetting mortgage loan financing requires you providing a blend of good cash, ample credit, and income to offset a proposed new expense i.e. a mortgage loan. You must have the right blend of all three in order to purchase or refinance a home. What might not make sense however is the lifeline that’s going to…

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]]> Can you get a mortgage with bad credit? https://sonomacountymortgages.com/2020/01/can-you-get-a-mortgage-bad-credit/ Thu, 09 Jan 2020 20:00:16 +0000 https://sonomacountymortgages.com/?p=16112 Can you get a mortgage with bad credit?Many mortgage companies along with the internet would have you believe getting a mortgage with bad credit cannot happen. It is true the process will be more difficult and challenging, but it is not impossible. If your desiring to refinance your property or buy a home with less than perfect credit the following information will…

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]]> New loan limits for 2020 makes getting a mortgage easier https://sonomacountymortgages.com/2019/12/new-loan-limits-for-2020/ Sun, 01 Dec 2019 19:00:11 +0000 https://sonomacountymortgages.com/?p=16082 2020 Conforming Loan Limits IncreaaseThe Federal Housing Finance Agency which oversees loans bought by Fannie Mae and Freddie Mac announced to change to the conforming loan limit last week. Here’s what the change means for you… Every year the Federal Housing Finance Agency releases its loan limits for the next year. Over the last 4 years, the agency has…

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]]> Why the purchase price should not be the single most important factor https://sonomacountymortgages.com/2019/09/why-the-purchase-price-home/ Sun, 08 Sep 2019 17:00:12 +0000 https://sonomacountymortgages.com/?p=16014 Why the purchase price in a real estate transaction should not be the single most important factorWhen buying a home most would believe the number one most important thing you need to be focused on is what you pay for the house. Mom and dad who bought their house years ago, Grandma and Grandpa who bought their house back in the early 1980s when housing prices were $40,000 all have an…

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]]> Here are 2 mortgage process problems you will want to avoid https://sonomacountymortgages.com/2019/07/2-mortgage-process-issues/ Sun, 28 Jul 2019 18:00:18 +0000 https://sonomacountymortgages.com/?p=15980 How to avoid getting a jumbo loan due to CoronavirusSecuring mortgage loan financing is the cornerstone of financial prosperity in America. It’s one of the biggest decisions you’ll ever take on your life. Here’s watch to avoid when applying for a high-ticket mortgage… Make no mistake the way mortgage companies must originate loans is 100% controlled by the federal government. That means the “asks”…

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]]> Here is a legit non-traditional income program for self-employed mortgage borrowers https://sonomacountymortgages.com/2019/06/legit-nontraditional-income-loan/ Sun, 30 Jun 2019 17:00:29 +0000 https://sonomacountymortgages.com/?p=15959 Self Employed BorrowersTraditionally, self-employed mortgage borrowers are more heavily scrutinized by mortgage companies because of their gyrating income. If their business stops the revenue stops and their ability to make a mortgage payment could be impacted. That’s the rationale behind why lenders look at self-employed borrowers more stringently. Lenders request both personal and or corporate returns from…

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