Private mortgage insurance, or PMI, is one of those subjects that tend to create a lot of confusion among first-time home buyers in California. And it's easy to understand why. For one thing, PMI is one of the only types…
If you're planning to use a mortgage loan to buy a house in California, there's a good chance the property will have to be appraised. That's because most banks and lenders require appraisals whenever a home loan is being used.…
Bank statement loans have become more popular over the past few years, partly due to an increase in the number of self-employed and "gig economy" workers. We've written about these types of loans in the past, and how they can…
Do you need a mortgage loan in California for up to $5 million, to purchase a high-end property? Bridgepoint Funding has got you covered! Through our lender partnerships, we now have access to "super jumbo" mortgage loans that offer financing…
If you're a homeowner in California, you've probably heard about home equity loans and HELOCs. But what exactly are these financing options? How do they work? And what are the similarities and differences between home equity loans and HELOCs in…
Do I need to obtain a home insurance policy to qualify for a mortgage loan in California? And if so, what type of insurance coverage do I need? These are common questions among first-time home buyers in the Golden State.…
Home buyers in California often become confused about the differences between FHA mortgage insurance premiums and the private mortgage insurance (PMI) that applies to conventional home loans. And it's easy to understand why. The terminology alone can be confusing. But…
Private mortgage insurance (PMI) is often required when a home buyer makes a down payment below 20%, resulting in a loan-to-value (LTV) ratio above 80%. In California, the average annual cost of PMI usually ranges from 0.58% to 1.86% of…
As a home buyer in California, you have many different options when it comes to your mortgage financing. For example, you could choose a government-backed mortgage program like FHA, or a conventional home loan. You also have options when it…
In a previous article, we explained some of the benefits of using a bridge loan to buy a home in California before selling your current house. Today, we will break the process down into the individual steps. This will help…
