The Federal Housing Administration (FHA) home loan program offers a number of benefits, including a down payment as low as 3.5%. Many borrowers who are considering this program have questions regarding the processing timeline. One of the most common question…
The FHA loan program is popular among home buyers who cannot afford to make a large down payment. Many first-time buyers in California rely on this program, though it's not restricted to that group. But how does one qualify for…
VA loan home buyers in California and nationwide can now choose to pay for their termite / pest inspections. This is a change from previous VA policy, which prevented buyers from paying for certain inspections. This policy adjustment could benefit…
The home appraisal is an important part of the VA loan process in California. It allows mortgage lenders to assess the current market value of the property being purchased, based on input from an approved home appraiser. Now, it seems…
In a previous article, we addressed the misconception that VA loans require a down payment. (The short version is that they don't.) Today, we'll focus on another common misconception about VA loans in California -- mortgage insurance. Here's the most…
A survey showed that many military members in California and nationwide believe that VA home loans take longer to process than conventional mortgages. But that's not always the case. In fact, mortgage industry data show there's only a minor difference…
This is the latest in a series of articles designed to educate California home buyers on the FHA loan program. In previous articles, we looked at the basic document requirements for an FHA loan, along with the minimum down payment…
This article explains some of the documents that are needed for an FHA loan in California. Commonly requested items include W-2 forms and tax returns for the past couple of years, pay stubs, bank statements, and other financial documents. The FHA…
A new survey showed that there are many misconceptions regarding the VA loan program. For instance, many veterans and active-duty military in California believe they have to put down at least 20% when using a VA loan. These misperceptions might…
First-time home buyers in California have many options when it comes to choosing a mortgage loan. Fixed-rate vs. adjustable. Jumbo vs. conforming. Conventional vs. government-insured. These are just a few of the choices you'll encounter when shopping for a mortgage…
