Thinking about taking the plunge into the Sonoma County Real Estate Market? Summer is right around the corner and now couldn’t be a better time to get preapproved with a mortgage lender to begin the home search. What you’ll experience as a home buyer in today’s market is a lower inventory of homes for sale…
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…
Getting your home loan request denied, is certainly not a fun thing to deal with. Lots of times certain mortgage companies have internal mortgage loan underwriting requirements which might be more constrictive than a competitor of theirs. Not every mortgage company has the same set of guidelines and standards. Fannie Mae and Freddie Mac and…
Considering purchasing or refinancing? If yes, be prepared to send in your financial documentation as soon as possible. Fannie Mae and Freddie Mac have been ordered eat the losses to pay for federal tax cut extensions. Congress has mandated that Fannie Mae and Freddie Mac must increase their guarantee fees charged to all sellers. The…
Securing a mortgage loan today for a purchase or refinance is looking very attractive with interest rates near 4% on long-term 30 year fixed rates. Over the last couple of months, mortgage rates have hit record lows three times what the last one being last week with a 30 year fixed rate mortgage hit 3.94%.…
A key opportunity in Sonoma County is buying an investment real estate and subsequently getting an investment mortgage. Over the years non-owner occupied mortgage loans have gotten tighter in terms of stricter mortgage loan underwriting criteria. You can purchase a property in Sonoma County with an investment mortgage and positively cash flow the property after…
Ever begin shopping for a mortgage loan and then realize the mortgage company you selected isn’t the right fit for you? If yes read on…. Everyone wants a combination of the best interest rate, fees and terms available on any given day for their mortgage loan scenario. Whether a purchase scenario or a refinance scenario,…