Occupancy Fraud: Don’t Do It
Occupancy fraud has become one of the mortgage industry’s biggest issues, especially now that income fraud is nearly impossible to commit. Occupancy fraud is the misrepresentation of how you intend to use the property you are purchasing or refinancing. This is...Family Opportunity Mortgage: Helping Your Elderly Parents or Disabled Adult Child Purchase a Home
Please check out my more recent blog on updated rules and requirements for the Family Opportunity Mortgage here. Not many people know about this Fannie Mae mortgage program, so please keep it in mind as an opportunity. Fannie Mae’s Family Opportunity Mortgage helps...ANNOUNCEMENT: “Financing Your First Home” e-book is now published!
I am so happy to announce that I have published and posted my e-book on FINANCING YOUR FIRST HOME It is geared towards individuals and families seeking to buy their first primary residence in California, but it can also be used as a refresher for people refinancing or...Tips Regarding Your Refinance
This is a document that I send to clients whom are refinancing their home mortgage. There are a number of “heads up” items listed, all of which are meant to prepare you for any hiccups or annoyances in the refinance process. Many of these will also apply...Fixed Rate Mortgage Term Options
The 30 Year Fixed loan program is the most common program chosen by homeowners. It provides fixed, secure payments at the same interest rate and mortgage payment for the life of the loan (30 years). But there are other options for fixed rate term mortgages that not...Are No-Cost Loans a Real Thing?
Can you purchase a home or refinance your existing mortgage and not pay anything to do so? The simple answer is yes, but it definitely needs more explaining. There are costs associated with every purchase and refinance; the question is how they are paid. The best way...Jumbo Loan with 10% Down Payment?
Back in the day, we only had a conforming loan limit (currently $417k), and any loan amount above that was considered Jumbo. Now we have three levels of loan limits and down payment requirements for Conventional loans. (FHA will allow 3.5% down payment up to a...You Have Options in Mortgage Insurance
Mortgage Insurance is one of those necessary evils in purchasing a home with less than 20% down payment. The purpose of Mortgage Insurance is to protect the lender against the possibility of default. Yes, this is something you pay but does not have any real benefit to...How to Calculate Your Qualifying Ratio
Your qualifying ratio, also called the debt-to-income (DTI) ratio, is one of the three main factors in getting a loan. The other two are the Loan-to-Value ratio (considering down payment or equity), and your credit score. There are many other factors in getting a...Loan Calculator
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