Need a Giant Mortgage? Here’s What You Should Know

Mortgages

Need a Giant Mortgage? Here’s What You Should Know

Need a Giant Mortgage? Here’s What You Should Know

Jumbo loans are any residential mortgage that exceeds the county’s high balance loan limit. In Sonoma County, California, the maximum loan size for a single-family home is $554,300, so a mortgage for anything larger than that would be jumbo. According to the Wall Street Journal, 24% of mortgages approved were jumbo at six of the... Read More

How Much Can I Refinance My House For?

Mortgages

How Much Can I Refinance My House For?

How Much Can I Refinance My House For?

Refinancing can shave years off your loan and help you pay off your home faster. When you refinance your home, your loan amount can be whatever you choose it to be. It can be a lower amount than what you currently owe on your home, which would require bringing in cash to close escrow. Or it... Read More

Should I Keep Saving for a Home or Buy Now?

Mortgages

Should I Keep Saving for a Home or Buy Now?

Should I Keep Saving for a Home or Buy Now?

Saving up to buy a home is no easy feat. One of the key components of being able to successfully buy a home is having enough cash for a down payment plus closing costs. Generally, you’ll need at least $20,000 to buy a home. The old 20% down rule does mean a low payment, but... Read More

Could Down Payment Assistance Help You Buy a Home?

Mortgages

Could Down Payment Assistance Help You Buy a Home?

Could Down Payment Assistance Help You Buy a Home?

If you’re looking to buy a house with little-to-no cash, your options may be limited. Here’s what you need to know if you’re thinking about seeking down payment assistance to get your foot in the door. How Down Payment Assistance Programs Work Down-payment assistance can be sponsored by a local, state or government entity or... Read More

Will Applying for a Mortgage Tank My Credit Score?

Mortgages

Will Applying for a Mortgage Tank My Credit Score?

Will Applying for a Mortgage Tank My Credit Score?

If you are hesitant to apply for a mortgage because you think your credit score will drop dramatically each time you fill out an application, think again. Here’s what really happens when you apply for a mortgage and your credit is pulled. When you apply for a mortgage, you must have your credit checked. It... Read More

Is There Really Any Difference Between Mortgage Lenders?

Mortgages

Is There Really Any Difference Between Mortgage Lenders?

Is There Really Any Difference Between Mortgage Lenders?

The Consumer Financial Protection Bureau has safeguards in place to make sure mortgage companies operate on a level playing field with consumers. The level playing field specifically has to do with rates, pricing and whether borrowers are getting a fair and reasonable offer from one lender to another. But how banks look at your financial... Read More

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