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…
In this article, we will explain what a rapid rescore is and how it could help you qualify for a mortgage loan in California. Most home buyers in California have never even heard of a rapid rescore. Even so, many…
In this article: the key differences between bridge loans and HELOCs, and how to choose the best financing strategy for your particular situation. When it comes to short-term financing options, bridge loans and home equity lines of credit (HELOCs) are…
If you're a real estate investor in California exploring your financing options, you've probably encountered the term "debt service coverage ratio," or DSCR. These specialized loans allow real estate investors to finance income-generating commercial and rental properties based on the…
In this article: an explanation of "high DTI" mortgage loans for California home buyers who have a high level of debt. For many Californians, the dream of owning a home might seem out of reach due to high housing costs…
Summary: Tech workers in the San Francisco Bay Area (and elsewhere) often use restricted stock units to qualify for mortgage loans. These RSUs, for short, can be counted toward total income, helping the borrower qualify for a home loan. But…
Have you applied for a mortgage loan in California in the past, only to have your application denied by the lender? If so, you might not be entirely out of options. We have been able to approve borrowers who were…
