What Are Some Low Down Payment Mortgage Options?

by mylenderjackie | May 6, 2019 | Loan Programs

For first-time homebuyers or those with not a lot of down payment, you might be looking for options for a mortgage. Are there options that provide either zero or low down payment alternatives? If you can’t come up with a 10% or 20% down payment, as most...

How to Get Out of the YGRENE HERO-PACE Loan

by mylenderjackie | Mar 25, 2019 | Loan Programs

YGRENE is the same PACE program for Northern California homes whereas the HERO home loan is for Southern California. Both are similar programs but it’s important to understand each and how to get out of it if you have gotten yourself into one thinking it...

Do Reverse Mortgages Put People at Risk for Losing Their Home?

by mylenderjackie | Mar 19, 2019 | Loan Programs

Often referred to as America’s most hated home loan, reverse mortgages are actually making a comeback and they’re not as risky as a lot of people think they are. There’s a lot of common misconceptions about a reverse mortgage, the main one being the...

FHA Loan Limits for Multi-Use Unit Homes

by mylenderjackie | Feb 4, 2019 | Loan Programs

2019 FHA Loan Limits For 1-Unit, 2-Unit, 3-Unit, 4-Unit Homes Every year, loan limits for FHA rise slightly to compete with inflation, which is good news! As of 2019, FHA-insured mortgages are now available for loan sizes up to $726,525 for one-unit homes. FHA loan...

How Much Is My VA Funding Fee?

by mylenderjackie | Jan 21, 2019 | Loan Programs

VA loans are a great option for military personnel but it’s important to know about all the fees associated with these types of loans. The VA must be paid a loan funding fee before the VA will issue a guaranty. The amount of the funding fee depends on the amount...

Is There Ever a Good Reason for an Adjustable Rate Mortgage?

by mylenderjackie | Dec 10, 2018 | Loan Programs

An adjustable rate mortgage or ARM is a home loan with an interest rate that can change periodically. Monthly payments can go up or down based on the current interest rate. The initial interest rate is lower than a fixed rate mortgage but after a certain period,...