If you’re looking to purchase or refinance a house providing tax returns can sometimes just be inconvenient especially if your tax returns have various extending schedules. Here’s what you need to know if you’re looking to borrow money on a mortgage without providing the laundry list of financial documentation most banks and lenders require… Not…
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One of the challenges home buyers face when purchasing a house for the first time is of their income should go towards a mortgage payment. This number varies greatly and just because the bank tells you you can take on a certain payment to income ratio that doesn’t necessarily mean that you should. Here is…
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The recent fire disasters have created housing demand not seen in Sonoma County in many years. Prior to the fires, strong competition, coupled with limited supply best described the local market. Now that the fires have wiped out 5% of the Sonoma County housing market, the problem has intensified. Here is how to win… Be…
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Are you looking to afford a mortgage? A 50 year mortgage may be an option, but here are some things to consider when looking at a long mortgage term. These loans are not bought and sold by Fannie Mae or Freddie Mac. They are smaller banks and portfolio lenders that offer unique financing and as…
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If you’ve never bought a home before or it has been many years since your last mortgage transaction, you’ll need to freshen up on the basics. What lenders look for… The 3 c’s Cash-this one is a biggie. You need to have cash to buy a house pure and simple. Gone are the days of…
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When shopping for a mortgage, it’s critical to have a general understanding of how the fees, rate and payment all connect to your bottom line. Here are tips better to identify your net tangible benefit on a home loan… Rates & fees The cost of an interest rate (mortgage pricing) moves with ebb and flow…
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On November 25, 2015, the Federal Housing Finance Agency announced the 2016 new loan limits. Most notably, four counties in California have increased as well as various others throughout the country. Here’s what you need to know regarding the changes… Know Your Loan Category When you apply for a mortgage to buy a home or…
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If you’re serious about reducing your interest expense associated with your mortgage, refinancing is a guaranteed bet to reduce your payment, reduce your cost of funds and pay off your home faster. Haven’t refinanced yet? Know your options… Rate Reduction This is number reason most consumers elect to refinance. The biggest driver of payment reduction…
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