Patience and Preparation Buying a home in California can be an exciting, but intimidating process. If you are a first-time homebuyer, terms like mortgage insurance, counter offer and escrow can be enough to make you reconsider the upside of apartment living. However, with a little preparation you can glide through the steps of buying a home in … [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...]
Conventional Financing & Max LTV
There are a lot of variables that determines the maximum loan to value on a conventional loan. The type of property, the zip code in which the property is located, the credit score of the borrower, the debt to income ratio of the borrower and the reserve requirements just to name a few. With that said, assuming all is ‘perfect’ you can go with as … [Read more...]