How to Get Rid of Mortgage Insurance or a 2nd Mortgage

As values have gone up over the past couple of years it might be a good time to look into eliminating your mortgage insurance. If you purchased a home through an FHA loan or other type of mortgage that required mortgage insurance because of a low to zero down payment, the mortgage insurance will not automatically drop off and will carry on the life of the loan. These mortgage insurance premiums can range in price depending on the loan and length. The FHA upfront premium is 1.75% of the loan and is usually rolled into your monthly mortgage payment. [...]

Dog Grooming Contest in Pasadena

You may have recently seen on social media of the pictures or videos of dogs that have been groomed to look like other animals or even other items. At the Creative Grooming Competition at the Groom Expo West, Poodle lovers and all types of dogs participate in the annual show, which this year was held February 16 through the 19th at the Pasadena Convention Center at 300 East Green St. We went last year and had so much fun,  we made a point to attend and see the creative grooming again. This show is not just a Grooming Expo but also [...]

Tips for Single Women Home Buyers

This is or should not be an uncommon occurrence, but I do have a lot of women that come to me wondering if they really can buy a house by themselves. Of course! No one says you must own property with another person. But, you DO need to be able to afford it on your own, and that's where I come in. Single women are more than twice as likely to purchase a home than single men, according to the National Association of Realtors. They made up 16% of homebuyers in 2016. If you're planning on buying a home this year [...]

How to Buy a House When Your Partner Has Bad Credit

Oh my, you know it. You spouse or partner has racked up too much credit card debt and his or her credit score is in the toilet. But now you want to make the ultimate purchase together and you're afraid their credit will harm your chances or cause you to get poorer terms. So, what can you do? First, you need to determine if you even need their income to qualify. If you don't, you can always add them to the title once the mortgage closes. But you need to know that they will be obligated to the mortgage as [...]

Getting a Mortgage in 2017? Here's What You Should Know

Getting a Mortgage in 2017? Here’s What You Should Know

Trying to find accurate news and information these days seems like a wild goose chase. You never know who to believe anymore and if you hear something you have to check the source and then crosscheck it with other reputable sources. It really becomes a frustrating battle to find out what's real and what you can count on. As a professional in the mortgage and finance industry, it is my job, duty, and passion to give you the correct information 100% of the time. I want to give you the news as it's happening, changes that you might be expected [...]

How to Buy a House After a Foreclosure or Short Sale

I have a lot of people ask me similar questions about buying a house after a foreclosure or short sale. However, it's important to note that just because the waiting period is over doesn't necessarily mean you will automatically be approved. Credit scores, history, debt to income ratio and other factors will always play a part in your eligibility for a home loan. One of the best ways to ensure that you will be eligible after suffering a short sale or foreclosure is to continue improving your credit. You'll want to manage and maintain existing credit, pay all of your bills [...]

How Renters Can Come Up with a Down Payment

How Renters Can Come Up With a Down Payment

Oh, that darn down payment. The reason a lot of people simply cannot buy a house. That down payment is a huge amount to save up for a put down on a house and unfortunately is one of the main reasons many people do not move from renting to buy. Embedded from MGIC Connects But, there are a lot of other options when it comes to coming up with a down payment. Yes, you do need a little bit of money in order to make a down payment on a home, but this is simply smarter financial management. If you have [...]

Mortgage Insurance Reductions - More People Can Afford a Home

Mortgage Insurance Reductions – More People Can Afford a Home

It's a great time to refinance, and I'm not just saying that. The proof is in the pudding. Refinances rose 7% in January according to the Mortgage Bankers Association. Mortgage applications increased by 29% the first couple of weeks in January. This is primarily due to the FHA's newest rules to cut mortgage insurance premiums. They recently cut their insurance premiums for the first time in two years. FHA insurance premiums went down from .85% to .60%. Why does this matter? Because those that could previously not afford an FHA mortgage can now afford that. Mortgage insurance has been a added deficit for many [...]

How Long Does it Take to Increase My Credit Score?

This is a common question. And it all depends on where you're starting from. If you've faced a foreclosure, short sale or bankruptcy in the past 12 months, your credit score probably needs some serious repair, and this can be done, but it will take some discipline and time.  If you have 2-3 years, you should be able to not only repair your credit score but your overall credit in general. Rebuilding your credit does take time but with good payment history, paying things on time and establishing an abundance of credit, in general, will naturally increase your score. I recently had [...]

How Do I Qualify for a First Time Buyer Mortgage?

Qualifying for your first mortgage shouldn't be as intimidating as it sounds. Yes, you'll be applying for probably the biggest loan you've ever applied for but it's also a great way to start saving money for yourself in the form of real estate. Not many other loans work the way a mortgage does. By paying down your mortgage at the same time your home value increases you're actually gaining more money than had you remained a renter. So how do you begin? You can start at home by running some preliminary numbers to see where you sit financially. Take all your [...]

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