Some Bay Area home buyers use the adjustable-rate mortgage (ARM) loan to finance their purchases. These loans have unique features that are useful in some situations but less appropriate in others. These mortgages are given the "adjustable" label to differentiate…
Mortgage insurance is a common source of confusion for home buyers in California. First-time buyers, in particular, tend to have a lot of questions about how mortgage insurance works, when it's required, and when it's not. In this article, we…
Is a home appraisal required for a mortgage loan in California? This is a common question among first-time home buyers, and also a common source of confusion. So let's clear things up! The short answer is yes. A thorough appraisal…
Californians with student loan debt often wonder if they can qualify for a mortgage loan, on top of their existing debt. In many cases, this is totally doable, as long as the borrower has enough income to manage the monthly…
When you apply for a mortgage loan in California, you'll be asked for a variety of documents relating to your income, assets and debts. Lenders use these documents to verify your financial situation and to underwrite the loan. The exact…
Home buyers in California who use an FHA loan to buy a house typically have to pay for mortgage insurance. That's one of the requirements set forth by the Federal Housing Administration and HUD. This guide explains what FHA mortgage…
Home buyers in the San Francisco Bay Area have a lot of questions when it comes to down payments. We know this firsthand, because we've been fielding such questions for nearly 20 years. One question in particular always seems to…
Homeowners in California have several ways to convert their home equity into cash. One common strategy is to use a second mortgage (a.k.a., home equity loan) that delivers a lump-sum payment based on the equity you've built up. We recently…
Home buyers in California who have been through a bankruptcy within the past few years sometimes have a harder time qualifying for mortgage loans. Bankruptcy filings like Chapter 7 and Chapter 13 can significantly lower a person's credit score. They…
Housing affordability can be measured in different ways, both short-term and long-term. But when buying a home in an expensive real estate market like California, home buyers are typically most concerned with the size of their monthly payments. Common questions…
