Most every mortgage loan issued today is a loan lenders refer to as a Qualified Mortgage Loan (or QM). When the Consumer Financial Protection Bureau, or CFPB, was created one of the first set of guidelines issued was to establish common sense, universal lending requirements mortgage companies could follow when processing and approving a mortgage […]
It’s very possible you’re not familiar with a special loan program overseen by the United States Department of Agriculture, or the USDA Home Loan. And that’s a shame because most mortgage companies don’t pay much attention to it and instead suggest other loan programs. However, when properly used, there really isn’t a better home loan […]
The Delayed Purchase Program (also referred to as the Delayed Finance Program) is a unique program that you might not have heard about before. So what exactly is it and how does it work? The benefits might surprise you. How it Works In most any real estate market, when a seller sees an all-cash offer, […]
The Asset Depletion Loan Program has a lot of benefits for homeowners who might not have regular income or employment but do have other assets such as a retirement fund or other property investments. If you’re looking to qualify for a great rate, keep reading to see if this loan program can benefit you. How […]
Can refinancing your mortgage save you money? It’s fairly common for homeowners to have not one but two or more mortgages filed against the property. For some, they actually took out two loans at the time of purchase, a first and a second mortgage. When we structure such a loan for buyers, it’s to avoid […]
Did you know that the state of California has a special grant program designed to help homebuyers finance a primary residence while simultaneously allowing energy efficient grant that lets you “green up” the home? If you’re a first-time homebuyer or even if you’re not, and have enough funds for a 3.5% down payment plus some […]
Some recent good news came out recently that took effect last July. Fannie Mae, the largest purchaser of residential home loans announced their new policy addressing debt-to-income ratios. Now, the new debt ratio guideline tops out at 50, up from 45. Debt-to-Income Ratios Explained To interpret those numbers, a debt-to-income ratio, or debt ratio, compares […]
Are you looking at purchasing a home in the Bay Area? First of all, you’re not alone. Second, good luck! As a leading mortgage broker in San Jose, we are constantly keeping an eye on the local housing market to watch for any trends that can help us provide our clients with an ideal mortgage. […]
Your credit score is an important factor when not only determining a loan approval but can also affect an interest rate on a particular loan. At the same time, a credit score can be a moving target and do take some explaining to understand how they’re calculated. Further, it’s also no secret that credit scores […]
Have you heard about the FHA Good Neighbor Next Door Program? If so, then you know it’s a special program operating under the auspices of the Department of Housing and Urban Development, or HUD, and is aimed at specific HUD-identified areas. Who is Eligible? This program allows law enforcement officers, pre-K through 12th-grade teachers, firefighters […]
