Bella Mertz If you want to use a VA loan for second home, there are a few factors you will need to consider. To be honest, there are more than a few factors. On the plus side, it is possible to get a second home with a VA loan guarantee. On the minus side, it’s not as … Read more
Many homeowners refinance their traditional mortgages to obtain more favorable terms as they pay down their home loans. However, it’s also possible to refinance a reverse mortgage—a loan that lets older adults tap into their home equity without selling or making monthly payments. Here’s how a reverse mortgage refinance works, and when it might make … Read more
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Building credit can seem like an impossible task when you’re starting from scratch. With no credit history to show lenders it’s tough to get approved for loans or credit cards that can help build your score. That’s where installment loans come in. Installment loans allow you to borrow a lump sum of money and repay … Read more
Learn All About the 2024 Los Angeles County Conforming Loan Limits for Various Property Types. Call Sammamish Mortgage Today for a Personalized Quote! 90004 This page includes the 2024 conforming loan limits for Los Angeles County, with some additional commentary about how and why these caps are set. Home loans that exceed the maximum amounts … Read more
If you’ve taken out a construction loan to build your dream home from the ground up, you may be wondering what comes next once the construction is complete. Many construction loans are designed to be temporary financing that you pay back or refinance into a permanent mortgage loan when the house is built. Refinancing into … Read more
A non-conforming home loan is a mortgage that does not meet the requirements set by Fannie Mae or Freddie Mac. These government-sponsored enterprises (GSEs) have guidelines for the loans they will purchase, including maximum loan amounts, loan-to-value ratios, debt-to-income ratios, credit history requirements, and eligible properties. Loans that fall outside of these parameters are considered … Read more
Getting preapproved for a mortgage is one of the first steps when buying a home. It allows you to know your budget and shows sellers you’re a serious buyer. But preapprovals don’t last forever – so how long is a mortgage preapproval good for? In this comprehensive guide, we’ll explain everything you need to know … Read more
Veterans and service members who want to purchase multiunit, also known as multifamily, properties often see it as an investment opportunity. For many people, the idea of having tenants help pay some or even all of the mortgage is very appealing. The VA home loan program provides many benefits to eligible veterans active duty service … Read more
When taking out a loan, borrowers should be aware that lenders often impose restrictions called debt covenants. These provisions are intended to reduce the lender’s risk and ensure the borrower can repay the debt. By understanding common debt covenants, you can avoid violations and complications when securing financing. What Are Debt Covenants? Debt covenants refer … Read more