California home buyers typically encounter closing costs when buying a home. These are the various fees and charges that occur when a person buys a house using a mortgage loan. On average, they can add up to 2% to 5%…
If you have a home loan, you may wonder whether refinancing is the right financial move for you. Refinancing just means replacing your current mortgage with a new loan that better fits where you are today. Sometimes, that means lowering…
When One Year of Bonus or Overtime Income May Be Enough for Mortgage Qualification Bonus and overtime income are common components of compensation. For many borrowers, they represent a meaningful portion of annual earnings. Yet when it comes to mortgage…
In this article, we will address one of the most common questions among first-time home buyers in California: Is earnest money refundable? Here are five things you should know right off the bat: Buyers often include earnest money when making…
When a Higher Debt-to-Income Ratio Can Still Be Approved Debt-to-income ratio, commonly referred to as DTI, is one of the most discussed numbers in the mortgage process. It is also one of the most misunderstood. Many borrowers assume there…
10 Lesser-Known Fannie Mae Guidelines That Can Influence Mortgage Qualification Mortgage qualification under conventional lending guidelines is often described in simplified terms. Borrowers are told that debt-to-income ratios must remain below a certain threshold, that two years of employment is…
Using a VA Loan to Buy a Multi-Unit Property One of the most powerful and least understood benefits of the VA home loan program is the ability to purchase a multi-unit property with VA financing. For eligible veterans, this…
VA Loan Assumptions: What Buyers and Sellers Should Know VA loan assumptions are one of the most overlooked benefits of the VA home loan program. In the right circumstances, assuming an existing VA loan can create meaningful advantages for…
VA Seller Concessions Explained Seller concessions are a common part of many real estate transactions, yet they are often misunderstood in VA-financed purchases. Many buyers and sellers assume VA loans allow unlimited concessions or believe concessions make an offer…
Understanding VA Appraisals and the Tidewater Process VA appraisals are often misunderstood and, in some cases, unfairly blamed for delays or failed transactions. In reality, VA appraisals are designed to protect veteran homebuyers while ensuring properties meet basic safety…
