Keeping your money in one place is vital to a mortgage transaction. Cash to close and savings post closing escrow become critically important to sealing the deal. Here is what to know if you’ve been moving money around and are applying for a mortgage… It’s An Issue For Banks Moving money around in different accounts…
Had a previous bad credit event? Don’t have two years in the same field? Income not three times your proposed payment? Fear not, when your financial picture doesn’t fit the box, here’s how you may still qualify some lenders… To get a mortgage, you must have the four pillars lenders use to frame together a…
Applying for a home loan? Omitting, hiding, manipulating or not showing income, may be a gray area with your mortgage company. What to know… When you apply for a home loan, there are specific income documentation requirements, all lenders will require to fund on a mortgage . This includes: Two most recent years income tax…
A judgement, a court ordered nightmare that if not handled correctly can make getting a mortgage loan much more stringent than it otherwise needs to be. What you’re lender will want want… Quick Terms To Know Judgment-a court ordered debt that can arise from a number of factors, a lawsuit, a divorce, business dispute to name…
Sonoma County Mortgage Rates are quite low. In fact locking-in a 30 year fixed rate mortgage around 4% is pretty common these days. Whether purchasing or refinancing, securing the best mortgage rate is on everyone’s mind. However, while getting the lowest rate is certainly an admirable goal, qualifying for that mortgage loan become something else…
So is it true 30 year mortgage rates are at 3.25%? Well that depends on how you look at it. The answer is yes if you willing to invest discount points to purchase your interest rate down, so long as your financial profile is completely flawless. Otherwise for the 99.9% us, 30 year mortgages are…
Single family homes, condominiums, planned unit developments….. and then there’s 2 to 4 unit properties, often called duplexes, tri-plexes and four-plexes. A 2-4 unit property is the oddity of the various property types, it’s this property type that has the most confusion when it comes to securing mortgage loan financing. People think a single-family residence…
Buying a house is certainly a smart financial move given low mortgage rates and the most affordable home prices, ever. Each market is different so for our purposes we will be looking at the Sonoma County California housing market. Following is what you can expect if you plan to purchase a house in Sonoma County…