Sonoma County home loans Archives - Sonoma County Mortgages

Should you buy a more expensive home?

Scott Sheldon — Sun, 12 Nov 2023 17:57:56 +0000

For families looking to purchase a home, a mortgage payment, and price of the home can go hand-in-hand decision making. If you find a house that could be a good fit for you and your family, but it seems a bit out of reach. Here are some things you might want to take some consideration…

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How earning more income affects your ability to buy a home

Scott Sheldon — Mon, 03 Apr 2023 17:07:43 +0000

If you’re thinking about purchasing a house, it’s not just your credit score and your down payment that counts, it’s also your income, as your income drives affordability. How much income you generate is going to determine whether you’re able to buy a home. Here are some things to know about income when buying a…

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5 ways you will not get a home loan to buy a home

Scott Sheldon — Sun, 26 Feb 2023 18:44:38 +0000

Most people given a choice would desire to purchase a home, arguably, given their financial situation, and their ability to handle a monthly housing payment. Oddly enough, there are times from a lender’s perspective you might not get a home loan and it has nothing to do with your credit score, credit, history, income, or…

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Why you might want to consider a DSCR loan to buy a rental property

Scott Sheldon — Sun, 22 Jan 2023 19:25:02 +0000

What is a DSCR loan and how can this type of financing help you purchase a rental property portfolio? In Q3 2022, the DSCR loan emerged as a viable option for investors looking to buy a rental property who need a bit more flexibility than traditional loans backed by Fannie Mae and Freddie Mac. DSCR…

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How to get a first time home buyer program

Scott Sheldon — Sun, 05 Sep 2021 15:40:54 +0000

Buying your first home requires careful consideration of your cash, credit, and income. A first-time homebuyer is anyone who has not owned a house or any real estate in the last 2 years. Here’s what you need to know… The reality of it is that there aren’t any special first-time homebuyer programs out there in…

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How your profit and loss statement may affect your mortgage application

Scott Sheldon — Sun, 22 Aug 2021 16:23:11 +0000

If you’re self-employed you need to know that lenders are going to ask for a profit and loss statement year to date. Here’s what it is and why it’s needed if you’re self-employed and you’re trying to get a mortgage… If you’re trying to secure home financing whether you’re buying a house or refinancing one…

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Your choices if you’re self employed and you don’t show enough income for a mortgage

Scott Sheldon — Sun, 08 Aug 2021 16:16:25 +0000

Mortgage companies use your net income from your tax returns to qualify you. The excuse my accountant won’t let me do that, or I have to pay more taxes is incongruent with mortgage loans. Here is what you need to know… Part of being an entrepreneur is also bearing the costs that come with it…

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Why not paying your self employed tax debt may cost you a mortgage

Scott Sheldon — Mon, 28 Jun 2021 15:00:29 +0000

When you’re self-employed and you’re looking to get a mortgage it’s super important that not only you file the right amount of income, but you also pay whatever debt is associated with the income you report, that is if you want to get a mortgage loan…If you’re self-employed and looking to buy a house or…

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Why you should not hesitate on making offer to buy a home

Scott Sheldon — Wed, 12 May 2021 15:37:46 +0000

Let’s say if you are in the market to be buying a home. In the current environment here some things you might want to be aware of with regards to acting on a house that’s affordable and within your budget… You have found the family home that you could afford and it is priced at…

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Should you buy an existing home or build a new one?

Scott Sheldon — Wed, 28 Apr 2021 19:00:43 +0000

In this environment, it’s no easy feat to get your foot in the door with real estate. You really have to avenues buy a house already in existence or build a new one. Here’s the skinny on both… Building a home Building a house is not for the faint of heart. It requires a considerable…

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