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…
Mortgage Insurance is the dreaded monthly cost mortgage lenders put on borrowers looking to purchase or refinance with lower equity. Mortgage insurance, while it is an added cost, is not necessarily the evil it once was. While it is true, mortgage insurance does affect the total mortgage payment, the loan programs that contain monthly mortgage…
Q: Can I buy a house today without 20% down? A: yes you can buy a house today without 20% down. The old mantra of putting 20% down to purchase a house is outdated. The majority of borrowers today purchasing real estate do not have 20% down. In fact very few actually do have 20%…
If you are doing research about mortgages and try to find the best place to secure a competitive mortgage with the best interest rate quote, know the truth about big banks. Consider the biggest players in the mortgage loan arena B of A, ( biggest mortgage lender ever), Wells & Chase. These are the three…
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…
A Sonoma County Refinance Loan will require an appraisal in order to determine the value of the property the mortgage lender will lend against. Unlike the purchase transaction, the refinance deals solely you as the borrower, the mortgage lender and the real estate appraiser who has been hired to do a valuation of your property.…
The Sonoma County mortgage market is fluid in the availability of mortgage money. Mortgage lenders however, are concerned about one thing: that is risk. When making home loan, a mortgage lender is concerned about risk above and beyond anything else. They want to make sure the loan they are funding can carry “representation and warrants”…
If you are thinking about taking out a mortgage loan run some payment scenarios first. Figure out how much you can afford based upon using a simple mortgage loan calculator which will give you your payment, property taxes, fire insurance as well as take into consideration any extra principal payments that you choose to make…