Will a good Rental Payment history improve your Credit Score?

Very soon a good Rental Payment History will help you improve your credit score. Experian recently announced, it is now incorporating positive rental data from its RentBureau Division into the traditional credit file, opening a new avenue for the estimated 50 million underbanked consumers which can include everyone from college students and recent graduates to […]

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How to calculate Debt-to-Income (DTI) Ratio For My California Mortgage?

Debt-to-Income (DTI) Ratio is one of the many new mortgage related terms many First-Time Home Buyers in California will get used to hearing. DTI is a component of the mortgage approval process that measures a borrower’s Gross Monthly Income compared to their credit payments and other monthly liabilities. Debt-to-Income Ratios are designed to give guidance […]

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Is Mortgage Insurance (MI) Tax Deductible and other FAQs about MI

Is Mortgage Insurance (MI, also called Private Mortgage Insurance PMI) tax deductible in California? We will address this question and some other FAQs about Mortgage insurance in this post? Q. What is mortgage insurance (MI) tax deductibility and how does it work? A. The law provides for an itemized deduction on federal tax returns for […]

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What is causing the spike in California Mortgage Rates?

California mortgage rates have gone up every single week for last 5 weeks – now up ~.75%. (Get the mortgage rate update in this post). It all started with Fed announcing Quantitative Easing 2. The big question is why so sudden and why so steep! There are several possible reasons: Markets are increasingly more optimistic […]

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California Mortgage Pre-approvals from one month back are worth nothing

It’s time to revisit the pre-approval amount that you qualified for your mortgage application, if that was done more than 2 weeks back.  The biggest reason – the mortgage rates have spiked by ~.75% in just over 4 weeks. Last week Freddie Mac released the results of its Primary Mortgage Market Survey, which found that […]

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California Mortgage Rates rise for the 4th straight week – Now up .50%

California Mortgage Rates rise for the 4th straight week – Now up .50% Freddie Mac today released the results of its Primary Mortgage Market Survey, which found that once again, both fixed- and Adjustable mortgage rates rose this week. This was the fourth week in a row where fixed-rate mortgage rates were up. 30-year fixed-rate […]

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2011 FHA maximum Loan Limits announced for Bay Area Mortgages

The maximum FHA loan limits for most Bay Area counties (the ceiling) by property size for fiscal year 2011 are as follows: One-Unit $ 729,750 Two-Unit $ 934,200 Three-Unit $ 1,129,250 Four-Unit $ 1,403,400 Properties located in the counties of Santa Clara, San Mateo, Alameda, San Mateo, Contra Costa, San Francisco, San Benito and Santa […]

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California Mortgage Rates jump to their highest levels since August

Last week I was asked several times about Mortgage Rates, The Trends and my Predictions of where it was moving. All this I guess was triggered by the Freddie Mac Primary Mortgage Market Survey, which found that the 30-year fixed-rate mortgage (FRM) and the 15-year (FRM) rose dramatically last week, as did the 5-year ARM. […]

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Common Documents Required For A California Mortgage Pre-Approval

Even though many California mortgage lenders are still quoting quick 10 minute pre-qualifications over the phone or online, a true San Jose mortgage approval that holds any weight is one that has been issued by an underwriter who has had an opportunity to review all of the necessary documents. With a constant stream of new […]

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How will Fed’s Quantitative Easing impact San Jose Mortgage Rates

How will Fed’s Quantitative Easing impact San Jose Mortgage Rates for Refinance and Home Purchase? But before we get into how will this impact home loan rates for San Jose and SF Bay Area home owners, lets find out what does Quantitative Easing means! Wikipedia defines Quantitative Easing as – “Quantitative easing (QE) is a […]

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