Sick of Renting

Renting has its drawbacks, including:

1. Lack of Equity: Rent payments don’t contribute to ownership, so renters don’t build equity in a property. In many instances, one can own for about the same payment or a little more than their rent and invest in real estate.
2. Limited Control: Renters often have restrictions on modifications and personalization of their living space.
3. Uncertain Costs: Rent can increase over time, subjecting renters to potential financial instability. This happens all too often.
4. No Long-Term Stability: Renters may face the risk of eviction if they cannot afford rent or if the landlord decides to sell the property. This creates added stress when you least expect it.
5. Limited Privacy: Landlords or property managers may have access to the rental property for maintenance or inspections. Many lease agreements stipulate that the landlord or property manager have the right to inspect the premises with little advanced notice.
6. No Tax Benefits: Renters don’t qualify for tax deductions and credits available to homeowners, such as mortgage interest deduction. Why pay uncle same more?
7. Potential Restrictions: Some rental agreements have strict rules regarding pets, guests, or subleasing.
8. Limited Investment Potential: Unlike homeownership, renting doesn’t offer the potential for property appreciation or rental income from tenants.

We offer many loan programs with little to no money down, with competitive rates, and can close in less than 30 days. With over 23 years in the mortgage industry, I have helped 1000 of buyers become homeowners. If you’d like to look into homeownership, contact me for a free no obligation pre-approval.

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Down Payment Tips

Need some inspiration and ideas for saving for a down payment? I got you covered!

1. Set up automatic transfers from your checking to your savings account each month.

2. Decide now to put aside raises, bonuses, gifts, or tax refunds.

3. Skip the costly vacation, plan a staycation, and save the difference.

4. Pare down holiday and birthday gift-giving.

5. Rent out a spare room or parking space.

6. Pick up a side hustle like freelancing, pet sitting, ridesharing, or a part-time job. Remember, it’s just until you hit your down payment goal.

While 20% down allows you to avoid private mortgage insurance (PMI) on FHA and Conventional loans, you rarely will need that large a down payment. A 3-10% down payment will put you in a strong position when you apply for a mortgage. If you haven’t quite saved enough for your desired down payment, you can tap into your 401K or TSP retirement account to help you accumulate enough funds if you choose to do so. In most cases, the funds withdrawn from a retirement account or taken out as a loan are penalty free, as long as the home is purchased as a primary residence and not an investment property. If you’re a military Veteran, you don’t need any money down and we can request the seller cover your closing costs.

Mortgage Insurance Premium

When it comes to Conventional financing, it is recommended to come up with 20% down whenever possible to avoid mortgage insurance. If you do not have 20% down, I can still help get you qualified with as little as 3%-5% down and you can eventually have the mortgage insurance premium removed, once you reach the required 20% equity to remove your PMI and lower your mortgage payment. On the bright side, the higher your credit score, the lower your mortgage insurance premium will be and you can begin investing sooner rather than later.

Have questions or want to connect about the buying process as a whole? DM me, and I’ll be in touch!

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Low down payment loan programs

We offer low down payment loans in Chula Vista, Riverside, and San Diego County. There are many loan programs which we offer that require little to no money down. Below is a brief list of loan programs and their minimum down requirements:

*VA loans require $0 down payment

*FHA requires as little as 3.5% down payment

*Conventional loans require as little as 3% down payment

*USDA loans require $0 down payment

*Jumbo loans require as little as 11% down payment

*No Income no employment loans require as little as 20% down for a single-family residence

*Bank statement loans with as little as 20% down

These are just a few of the low down payment loan programs in Chula Vista that we offer. My protocol is to set you up with the loan program that best suits your particular loan scenario and credit profile. There is not one loan program for all because every borrower has their own unique home loan scenario, and each program has their own set of guidelines and requirements. Besides low down payment loans in Chula Vista, we do not charge any lender fees or Origination on most of our loan programs, which will save you $$. On average a pre-approval turn time is 24-48 hours and we are able to close within 21 days. Our goal is to ensure you have a stress-free and seamless experience. To learn more about these loan programs or to become pre-approved, please contact me directly at 619-208-6499.

About us

We have been in the mortgage business for 21+ years and are a direct lender as well as a mortgage broker. We have in-house processing and underwriting as well as docs/ funding. Our overall on-line rating is 5 stars. My team and I look forward to providing you the honesty, integrity, and professionalism you deserve.

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