People purchasing real estate today often times are faced with procuring gift monies in order to bridge the gap between being preapproved to closing escrow on a property. Many times gift monies can be an excellent source of additional funds needed for loan qualifying or down payment purposes. If you are going to be purchasing…
New home construction communities continue to offer many incentives to people looking to upgrade their level of homeownership. For many, the idea of being able to purchase a brand-new home with upgrades and have a turnkey real estate experience is an offer too good to pass up. New homes are run by large construction companies,…
Now is not the time to put the brakes on the home search! If you are pre-approved to purchase a property and are subsequently looking for homes, do not give up and start saving for closing costs. That is a losing proposition in this marketplace. We are in the month of November, Thanksgiving is right…
Not sure why it’s there, but aversion to mortgage loan points is definitely something every borrower and consumer asks about. For the most part, there is a negative stigma attached to paying discount points. There’s two forms of points which are an elective to pay in conjunction with procuring mortgage loan financing. There used to…
If you are thinking about taking out a mortgage loan whether that be a purchase or refinance, you’re not always necessarily going get the preferred interest rate if your loan amount is on the lower end. It is certainly a contradictory way of thinking, but it is absolutely true. The reason is because Fannie Mae…
People purchasing and refinancing homes always are asking the question is it best to get the lowest APR or the lowest interest rate and what’s the difference? You need to make sure you are actually comparing apples to apples. If you are refinancing a home or purchasing a home you’re going to receive Truth In…
Getting out of debt and mortgage free seems to be on everybody’s mind with these low mortgage rates. In fact there is a lot of truth to making a biweekly mortgage payment. A Biweekly mortgage payment is in essence doubling up on your payments to pay off your house faster. Calculate your mortgage payment. One…
Yes you can actually refinance your mortgage loan without starting over the 30 year term. As mortgage rates in Sonoma County have dropped this year, so have the actual costs of home ownership. It’s a fantastic time to purchase a home right now. It’s an even better time to refinance. This is a fact. Mortgage…