How to Buy Down Your Mortgage Rate in California Buying down a mortgage rate lowers the interest rate on a loan, either for its full term or for the first year or two, in exchange for money paid up front…
Seller Concessions: How Much Can a Seller Pay Toward Closing Costs? Sellers can cover part of a buyer's closing costs, but the amount is capped. Every loan type sets its own limit, and for conventional loans the limit depends on…
Conditional Approval: What Happens After Pre-Approval Getting a conditional approval letter partway through a mortgage feels like progress, and it is, but it's also the point where a lot of buyers start wondering what's actually left to happen and how…
Living in Concord, CA: A Complete Guide for Bay Area Home Buyers Living in Concord, CA means finding more room in a home, a yard, or a garage than a comparable budget usually buys closer to San Francisco, while still…
Non-Warrantable Condo Financing in California A condo purchase can move smoothly through underwriting right up until the lender reviews the HOA's paperwork, then stall for reasons that have nothing to do with the buyer's credit or income. This happens when…
Conditional Approval Mortgage: Why Files Still Fall Apart Before Closing A pre-approval is the first checkpoint in the mortgage process, based on a quick look at income, assets, and credit. A conditional approval comes later, after full underwriting, and means…
Why One Lender Says No When Another Says Yes: Understanding Lender Overlays A borrower can meet every guideline a loan program requires and still get declined. When that happens, the reason is often not the loan program itself, but an…
What Happens If the Appraisal Is Lower Than the Offer An appraisal coming in lower than the agreed-upon purchase price is one of the more common reasons a mortgage runs into trouble late in the process, often after a borrower…
Credit Score to Qualify for a Mortgage: What It Takes Credit score is one of the first questions most borrowers ask about, and one of the most misunderstood parts of mortgage qualification. There isn't a single number that applies across…
Proof of Income for a Mortgage: What Lenders Are Really Looking For Income is one of the first things a lender reviews, and one of the most common reasons a mortgage application runs into trouble. It isn't only about whether…
