Credit scores play a vital role in your ability to get a home mortgage. Here’s what you need to know if you are applying with a low credit score… First things first credit scores are used to predict the likelihood of a payment default in the next 60 days. A lower credit score will result…
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Looking to finance a big mortgage? Here’s some tips you can take to the bank… Most jumbo investors still have tight credit guidelines. Jumbo loans are any residential mortgage sizes greater than the county high balance loan limit. In Sonoma County, CA the maximum loan size for a single-family home is $554,300 making anything larger…
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Refinancing can shave years off your loan and help you pay off your home faster. Here’s what to consider when refinancing… When you refinance your home your loan amount can be whatever you choose it to be. It can be a lower than what you currently owe on your home which would require bringing in…
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Looking for a bad credit mortgage loan? If your credit is not up to par, yes, you can still get a mortgage with hoop jumping. Believe it or not you may even be able to seal the deal even with credit score sub 620. Here’s what to expect… FHA- that’s right, the only program out…
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Here are three things you must have to buy a home in today’s competitive real estate market… $20,000 of cash-The market has radically changed and in many markets across the country, sellers are in control. You’ll need at least $20,000 of your own funds or have access to $20,000 to buy a home successfully. $10,000…
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Credit is the biggest hot button topic in mortgage lending by far. Most would probably agree, any time you can raise your credit score to improve your mortgage scenario, take advantage of it. Every situation is different and here’s what to be mindful if your credit needs a little love. There are three different loan…
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Have ever heard about mortgage rates in the media only to then call a mortgage company and receive conflicting information? Here is why the media’s reporting on rates should be taken with a grain of salt… Know this-real time information is critical. When you hear about mortgage rates moving in the news, by the time…
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If you completed a loan modification in the past, you’ll need to meet certain credit thresholds to get a green light for a new loan. What to know… What Is A Loan Modification? A loan modification also known as a restructured mortgage is a loan in which the original terms of the transaction changed resulting…
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