Pros and Cons of an Adjustable Rate Mortgage
An adjustable-rate mortgage, also referred to as an ARM, is a home loan with a fixed rate for the first few years that switches over to an adjustable rate. The beginning fixed-rate period can be anywhere from the first three to ten years of the loan. This differs from...
FICO Credit Scoring System will be Changing This Summer
The FICO credit scoring system has been widely used since 1989. Since then the parameters in which FICO arrives at a certain number for an individual credit score have changed to help give a more precise assessment of a person’s credit history. This summer the FICO...The Importance of Completing a Transfer Disclosure Statement Before Selling Your Home
If you’re ready to get serious about selling your home, start thinking about your house’s history in earnest. California law requires sellers to complete a Transfer Disclosure Statement to notate any issues their home has, to protect both buyers and sellers. Let’s...
7 Common Mistakes to Refinancing
There are many reasons why we consider refinancing our mortgage loan, the main reason, of course, is the possibility of saving money on our monthly home payment. Before you actually refinance read through these common refinance mistakes to make sure refinancing is...
What to Do if You’ve Been Denied for a Mortgage Part 2
What to Do if You’ve Been Denied for a Mortgage Part 2 – If you have applied for a mortgage and have been denied, you are probably wondering why you were not approved and if there is any hope of you becoming a new homeowner in the future. In an earlier...
What to Do If You’ve Been Denied for a Mortgage Part 1
Not all mortgages end in final approval and the purchase of a home. Some mortgages never get to the final signing of papers and handing over of keys. If you have been denied for a home loan the following articles have some great tips on what to do next. Thoroughly...
7 Tips to Help Reduce Closing Costs
7 Tips to Help Reduce Closing Costs – Closing costs are the fees associated with wrapping up and finalizing your mortgage loan. While there is no way to completely avoid paying them, there are some ways that you can pay less closing costs. There are some...
Your Credit Score and Your Mortgage
One of the biggest inquiries home buyers have about applying for a mortgage is how their personal credit score will affect or determine their ability to qualify, because an applicant’s credit, or FICO score, is a key determining factor. In general, the mortgage...
California New Home Buyer Programs in 2020
California New Home Buyer Programs in 2020 – Buying a home is a huge investment and the biggest investment most people will make in their lifetime. If you are buying a home for the very first time it can seem daunting and quickly become overwhelming, especially...
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Here you’ll find tips, updates on mortgage laws and changes that can affect your loan or approval. Check back often for more great ideas.