A housing industry report published recently showed that home equity loans and home equity lines of credit (HELOCs) have become increasingly popular in California. In 2022, it seems that more and more homeowners have used equity loans and HELOCs as…
"I'm applying for a mortgage loan in California and want to know how much I can borrow. How do California banks and mortgage lenders decide how much to lend? Is it all just based on income?" These are some of…
A new report published this week estimated how much income Bay Area home buyers would need to cover their monthly mortgage payments. Researchers calculated the "minimum qualifying income" by using current mortgage rates and home prices, and assuming a 20%…
For many first-time home buyers in California, the mortgage qualification and approval process is one big mystery. Borrowers tend to have a lot of questions about this process. What does it take to qualify for a mortgage loan in California?…
Is the 5-year ARM loan a good mortgage option for California home buyers? Sometimes yes, other times no. The key is to understand how these mortgage loans work over the long term, and to make an informed decision based on…
Mortgage pre-qualification and mortgage pre-approval. If you've been researching the home buying and mortgage process lately, you might have encountered these terms. But what do they mean, exactly? And what's the difference between them? Here's what California home buyers should…
In a previous blog post, we explained what private mortgage insurance is and how it affects you as a home buyer. Today, we'll explore the process of cancelling private mortgage insurance (PMI) in California. In short: Homeowners with a PMI…
Oh no, not mortgage insurance! California home buyers often react this way when they learn they have to pay for private mortgage insurance (PMI). And that's understandable. In California, PMI can increase the size of a homeowner's mortgage payment by…
We've talked about the benefits of mortgage pre-approval in previous articles and through our social media. Home loan pre-approval is a helpful step that can make the house-hunting process more efficient. But here in the San Francisco Bay Area, mortgage…
What's the best type of mortgage loan to use when buying a home in the Bay Area? This is a common question among home buyers in the Bay Area, and rightfully so. Given the pricey nature of our real estate…
