Tag: <span>#california</span>

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FOLLOW THESE STEPS

Are you considering homeownership? Are you wondering how to begin the process? Here some steps to get started: • First and foremost, check your credit. It’s best to know your score in advance to get a good loan. Student loans, car loans, and credit cards are all items that are considered in determining your credit...

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EASY AS ONE, TWO, THREE

Are you a part of an investment group looking to purchase rental homes. Can you get financing if you purchase rental homes with a friend? Can an investment group get financing? Yes, you can.

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WE HELP YOU FIND THE RIGHT LENDING SOURCE

  We provide options and help you find the right lending source for your purchase. Is an SBA loan or a conventional loan the right loan for you? Should you borrow from a bank, investment bank, hedge fund, insurance company or some other funding source? What about cryptocurrency? We have the relationships and knowledge to...

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KEEP IN MIND

Are you looking to finance a second or vacation home? Here are some things to keep in mind: You need a minimum of 10% down payment, it is better if you can put 20% down as you can avoid mortgage insurance. The location of the home needs to make sense. There is not a rule...

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ALWAYS OBTAIN A PAYOFF STATEMENT

  Before paying off your mortgage loan make sure you obtain the payoff statement.  The lender can provide a payoff statement and the final amount to be paid to release their lien. Then you can know the principal balance, interest up to the date of closing, penalties (if any), and other charges the lender may...

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IS IT MOVE-IN READY AND HABITABLE?

To obtain a mortgage a property condition must be habitable and safe.  A residence must be move-in ready.   We get asked frequently, “What is considered habitable?”  Click link below for a list of items that a lender will use to determine habitability.

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FINANCING HOME LOANS WITH STUDENT LOAN DEBT

  Are you a soon to be college graduate considering financing a home loan? Student loan payments were deferred during the onset of the pandemic and you may not have had a monthly payment. Nonetheless,  lenders will calculate a payment to qualify you for the loan, when applying.

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ASSET DEPLETION CALCULATION

  You may be able to qualify under an asset based or asset depletion calculation. What is an asset based or asset depletion calculation? Lenders use different calculations but take a percentage of your assets and treat it as income. The loan then meets the ability-to-repay requirement and complies with Dodd-Frank legislation. It has been...