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[Infographic] How To Spot The Best Rental Market

Unlike the real lottery, hitting the rental property jackpot requires experience, knowledge, and skill. You need to know exactly what to look for and where to look for it. Without both of these factors you can easily find yourself buying a rental property sinkhole. We've put together a collection of facts and tips to help you avoid the pre-mentioned rental property disaster. Below you'll find stats on some of the most popular markets, do's and don't s for purchasing rental properties and tips on how to successfully navigate the purchasing process.continue reading →

Qualifying for a Mortgage On EAD and H1B, L or O Work Visas in 2021

If you are a non-permanent resident on a valid work permit like H1B, L1A, L1B or O Visa or an Employment Authorization Document (EAD), you need to be aware of few mortgage guidelines to qualify for Conventional or FHA loan. The following base qualification is required: 2 years of employment history in the US (In some cases employment history in a foreign country may be combined, especially if working for the same organization) 2 years of credit history in the US (In some cases, a foreign credit history may be combined, especially from…continue reading →

FAQs About Getting A Mortgage Pre-Approval

Whether you are a first time home buyer, looking to buy a second home or an investment property, the first step in the process is to get pre-approved. What is a pre-approval? A pre-approval is a process where a lender reviews your income, employment, credit and assets. After reviewing the credit qualifications, the lender will issue a pre-approval letter mentioning how much home loan you might qualify for. Why should I get pre-approved? There are several reasons: You will know how much loan you qualify for. You will know how much your estimated…continue reading →

2014 FHA Loan Limits For All California Counties

FHA recently announced the 2014 loan limits for all counties in California and rest of the country. In a significant move, the FHA maximum loan limits for 1-unit properties have been reduced from the current $729,750 to $625,500. California will see the biggest impact of this reduction, more so San Francisco Bay Area counties like Santa Clara, Alameda, San Mateo, Santa Cruz, Contra Costa and San Francisco. Get a live rate quote for an FHA Loan Below are the 2014 FHA loan limits for all counties of California. Blank cell 1 Unit 2…continue reading →

4 Things That Will Make Home Financing More Difficult in 2014

If you thought lending environment in 2013 was tough, think again. 2014 promises to get worse. Whether you are buying a new home or refinancing your current one, getting a mortgage will be stricter and more expensive. Lets take a look at top 4 changes taking place in 2014 that promises to make life more difficult for you: Qualified Mortgage (QM) Rule - Qualified Mortgage (QM) rule, also called Ability To Repay rule is part of implementing the Dodd-Frank act. QM rule implemented by Consumer Financial Protection Bureau (CFPB), is the first ever…continue reading →

12 Ways to Secure a Down Payment for Your Mortgage

If you are a first time home buyer in California (or anywhere else in the country) one of the biggest challenges could be to accumulate the necessary down payment. I have put together the most comprehensive list of possible down payment sources. Below are listed 12 different ways to secure a down payment for your home purchase. You can use one or a combination of many. 1. Savings/Checking Account - Two most recent bank statements, may be used to verify savings and checking accounts. If there is a large increase in an account,…continue reading →

2014 Conforming (Conventional) Loan Limits For California Counties

The Federal Housing Finance Agency (FHFA) recently announced the 2014 Conforming (Conventional) loan limits for all counties in California. This applies to conforming and high balance (also called Conforming Jumbo or Agency Jumbo) mortgages sold to Fannie Mae or Freddie Mac in 2014. Loan limits remain the same as 2013 with following base loan limits: One Unit - $417,000 Two Units - $533,850 Three Units - $645,300 Four Units - $801,950 Get a Live Rate Quote for a California Mortgage Some high cost counties will have the loan limits as high as $625,500…continue reading →

30 Year Fixed vs. 15 Year Fixed – Which One Makes More Sense?

If you are planning to get a purchase or refinance loan in California, this post will help you decide between a 30 Year Fixed and a 15 year Fixed mortgage. Benefits of a 15 Year Fixed Mortgage Huge savings in interest cost: The biggest benefit of a 15 year fixed loan is the amount of interest you save. If you were thinking of getting a home purchase loan in California, today's average rates are around 4.375% on a 30 year fixed and 3.375% on a 15 year fixed for high balance conforming loan…continue reading →

[Infographic] The Ultimate Guide To Home Insurance

Home insurance is a $70 billion industry. According to a recent report, 95 percent of homes in the U.S. are insured. There are a number of benefits associated with home insurance. For homeowners, having a home insurance policy means being able to recover from financial blows that often arise as a result of natural disaster home damage, theft, accidental fires, and other unexpected home-related crises. Finding the right home insurance is an important part of being a homeowner. To help you make the right decision, we put together an ultimate guide to home…continue reading →

10 Myths About California Reverse Mortgages Busted

Below are common myths that are important for you to be aware of as you investigate the benefits of Reverse Mortgage in California or rest of the country. Myth 1: I've heard I won't qualify for a reverse mortgage because of my limited income. Fact: False. Most traditional mortgages require income qualifications and a monthly mortgage payment; however, the HECM (Home Equity Conversion Mortgage) reverse mortgage generally does not use income as a factor and it pays you. Many seniors who don't qualify for traditional financing are eligible for a reverse mortgage. Myth…continue reading →