10 Reasons Homeownership Is Better Than Renting

No Closing Cost Refinance

No Closing Cost Refinance When refinancing property that you already own, do you still have to pay closing costs?   You might think, since I already own the property why do I have to pay closing costs like when I purchased a new property?   Each time you get a new loan on your property, you still have to go through the approval process to verify that you are able to repay that loan.  (Exceptions: FHA streamlines and VA IRRRL) As you go through the process of getting approved, there are dozens of people involved that take your loan from point A (initial application) to [...]

5 Mortgage Advice Tips for First-Time Orange County Homebuyers

If you are a first- time home buyer, the process of getting a mortgage for a property can be daunting. It’s really important if you are a buyer in Orange County, to work with a specialist to gather mortgage advice, before you enter a purchase contract/ mortgage agreement. In this latest article, Jackie Barikhan of Right Choice Mortgage, a trusted specialist, offers 5 mortgage advice tips for first-time buyers. Set a Budget – Look at all expenses Creating a set budget helps you understand a housing payment that is affordable given your current income and savings levels. Your budgeting process [...]

50 Ways You Might Get Declined for a Mortgage

(If your current loan application is with a big bank or inexperienced loan officer)   There are a ton of underwriting guidelines that must be met for typical conventional loans. Below are 50 ways your loan can be declined for a mortgage: Trying to buy too much house Debt To Income ratio maximums exceeded Credit score too low Not enough Income Inability to document income Using rental income to qualify Past delinquencies Past foreclosure, short sale, BK Mortgage rates rise and push payments too high Payment shock Loan To Value too high Inability to obtain secondary financing Underwater on mortgage Not enough assets Unable to verify assets (mattress money is a No No) Unpaid alimony or proof of [...]

Jobs, Employment Lake Forest, CA

With the nation still struggling out of the Great Recession, California’s overall job and unemployment rating is the 9th highest of all 50 states, at 5.9%. However, this ranking includes inland areas that have been hard hit: 8 of the 10 urban areas in the US with the highest unemployment rates are in inland areas of California. The coastal areas from Los Angeles south to San Diego have fared much better, with Los Angeles County at 6.2%, and San Diego at 4.4%. Lake Forest’s sister cities rate even better, with Irvine at 4.5%, and Mission Viejo at 3.6%. According to [...]

First Time Homebuyer – Keep It Simple

Partner with Jackie at Right Choice Mortgage and find a place to call home The freedom and security that come from owning a home are major reasons to become a homeowner. Putting down roots frees you from rising rent, but it also grants you so much more. As a mortgage lender with nearly 20 years of experience serving California, we’re here to help you secure these advantages and more. The benefits of homeownership abound Becoming a homeowner has many benefits. Here are some financial, social, and personal advantages for you to consider: No more Rent increases. Considering rent costs go up about 5% a [...]

Mortgage Rates are LOW -2016 Forecast

If you are looking to purchase a new home or refinance in 2016, the news is good! Mortgage Rates are still low. Mortgage rates haven’t moved much in the past few years and have stayed between 3% and 4% for a 30-year fixed-rate mortgage. Steady rates have helped home buyers, particularly first-time home buyers, afford the American dream. According to NAR, 2016 is expected to be a seller’s market as home prices nationwide have increased in recent months. This trend means, if you’re house hunting, be prepared to act fast when you find your perfect home. predicts that mortgage rates could [...]

Groom Expo West – Pasadena

So...  It's a Sunday and your out looking for something to do in Pasadena? We had a friend who was entered in the Creative Grooming Competition at Groom Expo West, so we thought we'd have a look around. As Poodle lovers, we knew we would be in for a treat. On a beautiful sunny day in January, look at what we came across at the Pasadena Convention Center. A Bichon Frise dressed as FRUIT - Yes, that is her real hair and they cut and colored it to appear as a fruit basket evidently...    Check out the tail... Yes.. It's an elephant [...]

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