Author: Scott Sheldon

FeaturedMoney

Here’s why the VA mortgage is the best home loan

Written by:

The U.S. Department of Veterans Affairs guarantees loans up to 100% loan to value for purchase rate and term or Cash out refinance loan scenarios. The …

FeaturedMoney

Be wary about paying off this type of debt when getting a home mortgage

Written by:

Paying off debt to qualify is a wonderful way to drive borrowing power. For example, let’s say you have a couple of credit card payments totaling …

FeaturedMoney

Can you use your roommate’s rent payment to qualify for a mortgage?

Written by:

Refinancing or purchasing a house requires an ample supply of cash, credit and income. Here’s what you need to know with regards to getting a mortgage …

FeaturedMoney

5 quirky mortgage refinance scenarios that really work

Written by:

In the last few years, mortgage lending guidelines have begun to loosen as the broader economy is stronger now that the recession has passed. The following …

FeaturedMoney

This is the No. 1 mistake people make when getting a mortgage

Written by:

To apply for a mortgage, get approved and close escrow you must have some sense of urgency. Whether you are buying a home or refinancing a …

FeaturedMoney

These little nuances may affect mortgage options for first-time buyers

Written by:

Purchasing a house for the first time requires careful planning and consideration so you can make the right financial choice for you and your family. Here’s …

FeaturedMoney

How to get a mortgage if you’re self-employed

Written by:

Applying to purchase or refinance a mortgage is going to require you providing an ample supply of credit, cash and documentable income to support the loan …

FeaturedMoney

Ready to buy a house? Make sure you have the closing costs covered

Written by:

When you make an offer purchase a house you have two types of closing costs: reoccurring closing costs, which are interest, taxes and insurance; and non-recurring …

FeaturedMoney

This change to FHA Loans might help you land a mortgage more easily

Written by:

Fannie Mae and Freddie Mac’s mortgage calculation of use net income is super conservative and will make your mortgage on your rental property worse from a …

FeaturedMoney

2 conventional mortgage programs with better interest rates & terms

Written by:

When you’re buying or refinancing a house it goes without saying you want to get a competitive interest rate with favorable terms associated with the money …

FeaturedMoney

5 quirky mortgage refinance scenarios that work

Written by:

In the last few years mortgage lending guidelines have begun to loosen as the broader economy is stronger now that the recession has past. Following refinance …

FeaturedMoney

How much of your monthly income should you spend on a mortgage?

Written by:

One of the challenges home buyers face when purchasing a house for the first time is how much of their income should go toward a mortgage …

FeaturedMoney

Mortgage inquiry make your credit score drop? Not so fast…

Written by:

Mortgage loan officers hear daily from consumers that they don’t want their credit score pulled because they’re worried about their credit score dropping. Unfortunately, the internet is full of …

FeaturedMoney

How 1031 tax-deferred exchanges work

Written by:

A 1031 tax-deferred exchange is a deferred exchange in the gain of an investment property used to acquire another investment property. Make no mistake this is …

FeaturedMoney

How to transfer property in California & still be protected under Prop 13

Written by:

Proposition 13 was enacted in California in 1978 to limit the amount of property taxes that homeowners pay. Prop 13 protects your property taxes from increasing …

FeaturedMoney

The credit score you need to get a mortgage

Written by:

To buy a house, you need to have at least a good credit score, provable income that supports your ability to repay the mortgage and enough …

FeaturedMoney

Why your mortgage payment keeps changing

Written by:

Why would a mortgage payment ever change? Consumers are often given little explanation by their bank on why their payments are suddenly due to a different …

FeaturedMoney

Home loan programs that require little to no down payment

Written by:

Looking to move up in the housing world, but don’t quite have the cash? The following are a few programs that may be available to you: …

FeaturedMoney

Why you should consider buying a house that needs work

Written by:

If you’re purchasing a house – whether it’s a primary home, move-up home or secondary home – and the house needs work, don’t shy away from …

FeaturedMoney

5 common credit mistakes to avoid when getting a mortgage

Written by:

Do you think your credit score qualifies you for some of the best mortgage terms available today? Maybe you’ve requested your credit scores recently and you …

FeaturedMoney

3 reasons not to buy a home

Written by:

The first and most important factor to consider when buying a house is, quite simply, whether you can afford it. Is your income rising, remaining stable …

FeaturedMoney

The No. 1 factor that can drive up your mortgage costs

Written by:

Time is not on your side when it comes to an escrow. The mortgage process can be a bureaucratic, complicated gauntlet that punishes today’s borrowers more …

FeaturedMoney

How to plan the best time to buy rental property

Written by:

Depreciation, mortgage insurance and other factors can affect owning a rental property. In fact, if you’re financing another property while you have a mortgaged rental space …

FeaturedMoney

Watch out for these 2 sneaky mortgage practices

Written by:

It’s no surprise that banks are coming up with innovative ways to elicit new mortgage business. The following tricks are ethically questionable: 1. Getting your contact …

FeaturedMoney

6 common mistakes to avoid when buying a home

Written by:

Purchasing a home in Sonoma County has never been easier. However, houses still sell for an average of $700,000 here, making careful planning a must. Here …

FeaturedMoney

How to get a mortgage without providing a tax return

Written by:

If you’re looking to purchase or refinance a house providing tax returns can sometimes just be inconvenient especially if your tax returns have various extending schedules. …

FeaturedMoney

How child support & alimony can affect getting a mortgage

Written by:

When you apply to purchase or refinance a home, the mortgage lender adds your monthly fixed expenses to your housing payment, creating a debt-to-income ratio. When …

FeaturedMoney

5 common home buying mistakes you can avoid

Written by:

When you talk to a lender about pre-approval, you’re going to go through a full range of emotions, including anxiety over whether you should buy a …

Money

What to look for in a mortgage on a manufactured home

Written by:

Want to borrow money to purchase or refinance a manufactured home? Here’s how it’s done.  A manufactured home is a property that was constructed in a …