Posts Tagged ‘Chula Vista home loans’
How to Save Thousands On Your Home Loan
How to Save Thousands On Your Home Loan For most homeowners, a mortgage is the biggest debt they’ll ever take on in their lifetime. While a traditional 30-year mortgage makes monthly payments more affordable, it also means paying a significant amount of interest over time. The good news? With a few smart strategies, you can…
Read MoreUnlocking the Power of a DSCR Home Loan
Unlocking the Power of a DSCR Home Loan Features of a DSCR Loan Qualification Based on Property Cash Flow Approval is based on the property’s income potential—not your personal income. The key metric is the Debt Service Coverage Ratio (DSCR), which compares the property’s net operating income (NOI) to the proposed debt payment. Flexible DSCR…
Read MoreSelf Employed Home Loans
Self Employed Home Loans Self-employed Home loan programs offer several benefits tailored to the unique financial situations of business owners, freelancers, and independent contractors. It’s often hard for self-employed borrowers to buy a home because the traditional mortgage system is built around W-2 employees with predictable income, which doesn’t align well with how self-employed income…
Read MoreHome Affordability Hack
Home Affordability Hack A temporary interest rate buydown is a powerful home affordability hack, especially in high-interest environments. It allows buyers to reduce their mortgage rate for the first 1–3 years of their home loan, making monthly payments more affordable during that initial period. What is a Temporary Buydown? A temporary buydown is when the…
Read MoreRefinancing Out of Your Low Rate Sometimes Makes Sense
Refinancing Out of Your Low Rate Sometimes Makes Sense Switching from an Adjustable-Rate Mortgage (ARM) to a Fixed Rate – If your ARM is about to adjust to a significantly higher rate, locking in a fixed rate can provide stability and predictability in payments. Eliminating Private Mortgage Insurance (PMI) – If your home value has…
Read MoreNew Loan Limits Are Out for 2025
New Loan Limits Are Out for 2025 Hot off the press!! The Federal Housing Finance Agency (FHFA) has announced that the baseline conforming loan limit for 2025 will increase to $806,500, up by $39,950 from the 2024 limit. In high-cost areas, the limit will rise to $1,209,750, which is 150% of the baseline limit. These…
Read MoreNon QM Loans
Non QM loans (Non-Qualified Mortgage loans) are designed for borrowers who don’t meet the strict criteria of a Qualified Mortgage (QM), typically because they have unconventional income sources or unique financial situations. These loans offer more flexibility compared to traditional loans, making them attractive to certain borrowers. Key Benefits of Non QM Loans: 1. Flexible…
Read MoreIs it better to Buy or Rent
Is it Better to Buy or Rent? Deciding whether to rent or buy a home depends on various factors that can differ based on individual circumstances and preferences. Here are some key considerations for both renting and buying: Renting: Flexibility: Renting offers greater flexibility compared to buying. You can typically sign leases for shorter terms…
Read MoreZero Down Conventional Loans
Zero Down Conventional Loans for first time home buyers HOT OFF THE PRESS!! You can now buy a home without a down payment. Owning a home with zero down payment Conventional loans can offer several benefits: Immediate Homeownership: One of the most significant benefits is that you can become a homeowner without having to…
Read MoreCommon Mistakes to Avoid When Using a VA Loan
Common Mistakes to Avoid When Using a VA Loan Not Understanding Eligibility Requirements: VA loans have specific eligibility criteria, including length of service, discharge status, and other factors. Make sure you understand and meet the requirements before applying or reach out to a VA loan expert such as myself. Not Getting Pre-Approved: Getting pre-approved for…
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