A 1% Down Payment Loan is Now Available (!)
Have you heard about the 1% down loan offered by Rocket Mortgage? Well, it’s available! It may be a little prohibitive in California considering real estate prices are higher than the national average, but there may be pockets where it’s possible. The loan program is...Back to Basics: The Loan Process
We’re going back to basics! I have just added this flyer to my “Resources” page and want to highlight it here as well. Let me know if you have any questions. Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens...Loan Options for Self-Employed Individuals
It can be quite frustrating if you do not qualify for a traditional loan due to how you file your tax returns. If you are a salaried employee, your income is calculated based on your gross, but when you are self-employed, your income is calculated based on your net....Why a 2nd Mortgage Makes Sense to Consolidate Debt
This is a scenario I recently reviewed with one of my existing clients – he has accumulated a lot of credit card debt and feels overwhelmed by its significance. He owes $1.2MM on his mortgage at a 30 year fixed rate of 4.925% and the value of his home is $1.85MM. He...In the News: Student Loan Payments Are Back
Well, the 3+ year break in student loan payments is coming to an end and as of 9/1/23, interest on federal student loans has resumed. What you need to know when it comes to securing a mortgage: When there is no student loan payment reported on your credit report, the...Changes to Lending on Condos
Do you remember the condo building in Miami that collapsed in 2021 due to its structural deterioration and spalling? It was devastating, and many people died. But it also brought attention to how frequently (or infrequently) condominium projects are inspected and...“I’m Paying Mortgage Insurance – When Can I Cancel It?”
If you purchased or refinanced your home and put down less than 20% (or had less than 20% equity), then you are most likely paying Private Mortgage Insurance (PMI). PMI is charged as an insurance policy for the lender against you defaulting on your mortgage, since you...Financing Options for Buying a New Home Prior to Selling Your Current
It is not an unusual situation to want to buy a new home prior to selling your current; the biggest reason is that you save the hassle (and fees) of moving twice. Although the market is becoming a little more buyer-friendly, there still is enough demand (coupled with...FHA Reduces Their Mortgage Insurance Premiums Across the Board!
GREAT NEWS! FHA has announced that they are reducing their mortgage insurance premiums across the board by 30 basis points. Mortgage Insurance can often be a dealbreaker in securing an FHA loan, depending on down payment and credit score, but this will help immensely...Loan Calculator
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