How to Calculate a Jumbo VA Loan Amount

If you’re eligible for a VA loan and want to come to the closing table with as little money as possible, a VA loan is going to be hard to beat and for several reasons. The most popular is probably not requiring a down payment. That is at least up to the maximum VA loan […]

Down Payment Assistance is Here

Saving up enough money for a down payment and closing costs is typically the single biggest challenge when buying real estate, especially so for those buying their very first home. There are low down payment programs which can ask for as little as 3.5 percent down, such as the FHA program, as well as zero […]

What Exactly Is a VA “No-No?”

A VA No-No is kind of a funny name and it’s possible you’ve heard the term but unless you’re in the mortgage business or in real estate, but most likely you haven’t. The term has been used for decades and applies to a certain type of purchase transaction when someone is using their VA eligibility […]

Divorce and Your Mortgage: What You Need to Know

Couples don’t enter into a marriage expecting it to soon end. Quite the opposite in fact, when they get married they do so “until death do us part” and are so much in love they couldn’t imagine being separated much less getting a divorce. Unfortunately, divorce is a real thing and too often marriages end. […]

Low Credit Score in the mid 500’s? Refinancing or Purchasing Can Be an Option

Even with a low credit score below 600, it’s still possible to consolidate debt through a FHA cash-out refinance. As long as you don’t exceed 15% equity in your home. Even with prior late mortgage payments, as long as we receive approval through AUS (automated underwriting system).  In addition, you can purchase with a minimum […]

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 […]

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 […]