conventional loans Archives - Sonoma County Mortgages https://sonomacountymortgages.com/tag/conventional-loans/ Mon, 30 Mar 2026 19:25:35 +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 conventional loans Archives - Sonoma County Mortgages https://sonomacountymortgages.com/tag/conventional-loans/ 32 32 Cash-Out Refinance vs. Borrowing from Family: Which Is the Smarter Move? https://sonomacountymortgages.com/2026/04/should-you-cash-out-refinance/ Thu, 02 Apr 2026 15:09:34 +0000 https://sonomacountymortgages.com/?p=519124 Infographic comparing cash-out refinance vs borrowing from family, showing pros and cons of each. Cash-out refinance highlights fixed terms, potential tax benefits, and structured payments but includes closing costs and interest. Borrowing from family highlights low or no interest and flexible repayment but carries risks to relationships and lack of formal agreements.You’ve built equity in your home. Maybe a lot of it. At the same time, you need access to cash—whether that’s to consolidate debt, invest in real estate, fund a business, or handle a life event. Now you’re standing at a fork in the road: Do you tap into your home equity with a cash-out…

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]]> How seller credit maximize your purchasing power on a conventional or FHA home loan https://sonomacountymortgages.com/2025/05/fha-conventional-seller-credit/ Fri, 16 May 2025 21:53:59 +0000 https://sonomacountymortgages.com/?p=518714 "How Seller Credits Can Help You Maximize Savings on FHA and Conventional Loans" explaining what seller credits are, how they can be used for closing costs or interest rate buy-downs, the FHA 6% seller credit allowance, and a comparison table of conventional loan seller credit limits based on down payment. Includes a pie chart showing a split of 3% used for closing costs and 3% for interest rate buy-down.Maximizing Your Home Buying Power with Seller Credits When purchasing a home, every dollar counts. Whether you’re putting down 3.5% with an FHA loan or opting for a conventional route with 10% or 20% down, understanding how seller credits work can be a game-changer. These credits can significantly reduce your out-of-pocket expenses, lower your monthly…

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]]> Here is a formula to use to determine how much you might qualify for https://sonomacountymortgages.com/2024/07/formula-home-buying-income/ Wed, 24 Jul 2024 16:33:23 +0000 https://sonomacountymortgages.com/?p=518291 Here is a formula to use to determine how much you might qualify forCalculating Your Monthly Income for a Sonoma County Mortgage If you’re a first-time homebuyer in Sonoma County, knowing how to calculate your monthly income and determine your purchasing power is essential. With today’s mortgage rates around 6.5%, having a clear understanding of what you can afford is crucial. This guide will help you with the…

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]]> Navigating FHA Loans for Multifamily Properties: What You Need to Know https://sonomacountymortgages.com/2024/07/fha-loans-multifamily/ Tue, 16 Jul 2024 16:22:12 +0000 https://sonomacountymortgages.com/?p=518286 Navigating FHA Loans for Multifamily Properties: What You Need to KnowOne of the biggest challenges in securing an FHA mortgage for a multifamily property is the sustainability test, a crucial factor that most banks and lenders don’t discuss upfront. Here’s what you need to know if you’re planning to buy a multifamily property with FHA financing. FHA Loans for First-Time and Move-Up Homebuyers As a…

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]]> Homebuying Tips for June 2024: How to Qualify in Today’s Market https://sonomacountymortgages.com/2024/06/homebuying-tips-june-2024/ Thu, 13 Jun 2024 21:43:32 +0000 https://sonomacountymortgages.com/?p=518251 Homebuying Tips for June 2024: How to Qualify in Today's MarketWhat It Takes to Be a Homebuyer in June 2024 Buying a home is a significant milestone, but in today’s market, it requires careful preparation and strategic planning. As of June 2024, the housing market, particularly in Sonoma County, California, presents unique challenges and opportunities for prospective buyers. This post aims to guide you through…

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]]> Why you should wait for your credit to improve before applying for a mortgage https://sonomacountymortgages.com/2024/02/wait-apply-credit-mortgage/ Sun, 04 Feb 2024 18:01:41 +0000 https://sonomacountymortgages.com/?p=518127 Why you should wait for your credit to improve before applying for a mortgageIn the current consumer landscape, securing approval for a mortgage is a significant challenge. It’s widely acknowledged that applying for and obtaining a loan can be a bit tricky, considering factors like documentable income, credit history, and available cash. Your financial health, including payments and potential skeletons in the closet, all play crucial roles in…

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]]> 2024 Conforming & FHA Loan Limits increased! https://sonomacountymortgages.com/2023/12/2024-conforming-fha-loan-limits/ Sun, 10 Dec 2023 16:40:07 +0000 https://sonomacountymortgages.com/?p=518087 2024 Conforming & FHA Loan Limits increased!Are you considering buying or refinancing a home shortly? If so, you might be interested to know that the Federal Housing Finance Agency (FHFA) and the Federal Housing Administration have recently announced the new loan limits for 2024. The loan limit represents the maximum residential mortgage loan amount the government will allow in a certain…

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]]> Why Silicon Valley Bank failed and why it’s good news for mortgage rates going forward https://sonomacountymortgages.com/2023/03/silicon-valley-bank-mortgage-rates/ Sun, 19 Mar 2023 23:31:47 +0000 https://sonomacountymortgages.com/?p=17692 Why Silicon Valley Bank failed and why it's good news for mortgage rates going forwardThe recent failure of Silicon Valley Bank points to a broader issue that banks particularly depository institutions face as relates to their financial stability. Here is how this benefits your finances when buying or refinancing a home… Here is how a bank works, a bank takes the depositor’s money, and lends it out. They do…

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]]> Should I pay discount points when locking my interest rate? https://sonomacountymortgages.com/2023/03/discount-points-lock-loan-rate/ Sun, 12 Mar 2023 20:31:21 +0000 https://sonomacountymortgages.com/?p=17645 locking mortgage rate with discount pointsFor those looking to purchase to refinance a home, there might be some shellshock as it relates to costs associated with getting a home loan these days. It’s no surprise we are still in an inflationary environment and home loan rates are still feeling the effects of the broader inflationary environment. As a result, you…

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]]> 2023 Confirming Loan Limit Rise https://sonomacountymortgages.com/2022/09/2023-confirming-loan-limit-rise/ Sun, 25 Sep 2022 15:45:23 +0000 https://sonomacountymortgages.com/?p=17339 2023 Confirming Loan Limit RiseThe federal housing finance agency recently released its 2023 conforming loan limit. The new loan limit for 2023 is $715,000. Here is what this means if you’re purchasing or refinancing a home… Each year the Federal Housing Finance Agency which oversees Fannie Mae and Freddie Mac releases its annual loan limit. The annual loan limit…

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