Mortgage Insurance Tax Deductions are Back!

Mortgage insurance is tax deductible again. Any purchase or refinance that closed after December 31, 2013 are eligible for qualified borrowers. Borrowers with an adjusted gross income of less then 100,000 would be able to deduct 100% of their mortgage insurance premium. It is subject to income limits. Please consult your CPA or tax professional […]

Are Unreimbursed Business Expenses Keeping You from Financing a Home?

The IRS defines unreimbursed business expenses as 2106. It is possible to attain financing for a home purchase or to refinance your current residence even while having these listed on your tax returns. In order to ensure eligibility, it depends on the following factors. 1. You must be a wage earner (W2) for at least […]

VA IRRL Program – Streamline Refinance

A VA IRRL Program is the Veterans Administration Interest Rate Reduction Loan program. Many VA homeowners who purchased their home within the past year could benefit from a lower interest rate. This is also known as a Streamline refinance program in which it requires limited documentation in terms of income and assets. It’s quite common […]

You Can Still Take Advantage of HARP (Home Affordable Refinance Program) Today!

You can still take advantage of HARP (Home Affordable Refinance Program) it has been extended through 2015! There is a misconception about this program its not for just borrowers with negative equity or minimum equity. Even in the case of having a loan to value ratio under 80% or equity of more then 20% is […]

Leasehold Financing Solutions Do Exist

Leasehold financing solutions are available, though they aren’t as common. Freehold often known most commonly known as fee simple is the most prevalent form of ownership. Fee simple properties would be defined as complete ownership consisting of holding title along with the land. A leasehold property differs since a fee simple landowner (lessor) enters into […]

Pulling Cash-Out Equity From a Non Owner Occupied Property is Possible

There are solutions in our current lending environment for pulling cash-out equity from an investment property for real estate investors for one to four-unit California properties. Even in the case of having more than four financed properties which would be allowable as a Conventional loan. If its more then six financed properties there are still […]

Combo or Piggyback Loans Are Back!

A combo or piggyback loan is a great mortgage product especially with a downpayment of less then ten percent in order to avoid mortgage insurance. In terms of the loan amount they can go up to 1,275,000. Also, it can be used on a refinance for home improvement or debt consolidation purposes or to have […]

What is a no closing cost loan?

A no closing cost loan is a great option for those that have refinanced within the past year or two or have purchased a home within the past twelve months. By choosing a slightly higher interest rate the lender would issue out a rebate that covers all of the non recurring closing costs which consists […]

Unpermitted Garage or Additions are OK

An unpermitted garage or room additions or other conversions along with in law units with a stove are acceptable. As long as the scope of the work has been done in a workmanship like manner. Out of the approximately 75 lenders we are approved with several of them are able to do them without converting […]