Getting a home loan may be the most important financial decision you could ever make, and it is best to be informed if you want to be able to benefit from the right loan to suit your needs. Here are a few tips that may help you find a home loan plan in San Diego to match both your requirements and financial possibilities. 1. Do some research You … [Read more...]
FHA Loan Requirements – What You Need To Know
The Federal Housing Administration (FHA) provides mortgage insurance on loans made by FHA-approved lenders. FHA insures these loans on single family and multi-family homes, as well as FHA approved condominiums, in the United States and its territories. FHA insured loans require mortgage insurance to protect lenders against losses that result … [Read more...]
Flexible Lenders in San Diego
It is a noticeable shift from the last four years, when 20 percent down on a home purchase loan was the only game in the neighborhood. Lenders have been willing to do more than they may have been willing in the past. The requirements have not changed significantly, but other parties taking risk, such as the lenders and mortgage insurance … [Read more...]
5 Tips to Help You Choose the Right Mortgage
Finding the right mortgage involves some digging. Interest rates, points, processing costs and adjustment features all affect how well a mortgage suits your needs. 1) Current Offerings To find out about lenders’ current offerings, you have a couple of options: call lenders directly, or google lenders in your area and interview them to see if they … [Read more...]
Guide To Buying A House In San Diego
Home Sweet Home – How To Buy A Home In San Diego The first step in buying a house is to identify a lender. Once you get qualified for your home loan, it's time to find yourself a Realtor! Your lender is the best source for a referral as they work with many agents around the area and will know one that is well qualified to help you with your … [Read more...]
Maximum Conventional Loan San Diego
The maximum conventional loan varies from county to county. San Diego County has a temporary limit for FHA and a permanent one for conventional. The permanent one for conventional financing is $546,250. The temporary one for FHA is $697,500. Now, just because they say that it’s temporary vs. permanent doesn’t mean that it’s not subject to … [Read more...]
What is a VA Funding Fee?
I am often asked what is a VA funding fee? A VA funding fee is just like an insurance policy for the lender that loans the money for the home. The VA 'guarantees' the lender against default. So if something goes wrong and the homeowner can no longer make the payments, the lender will be covered for any loss by the VA. Unfortunately just like … [Read more...]
What is a VA Mortgage?
A VA loan is an amazing program that is eligible only to those who have been honorably discharged in the military or who are still active duty. In order to be on a VA loan you must either be a veteran, or married to a veteran. VA loans require NO money down up to the maximum $477,000 in San Diego County and $621,000 in Los Angeles and Orange … [Read more...]
