Found your Dream Home? 6 Tips to win a Real Estate Bidding War

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Found your dream home but the housing market has you down? Here are 6 tools and strategies JVM offers to our clients to help get their offer accepted for their next home purchase.  Bidding wars have been common in our bustling Real Estate markets over the past few years. As you can imagine, buying a […]Read More

What Is A Prepayment Penalty?

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A prepayment penalty on a mortgage loan is a fee that can be charged by a lender when your mortgage is paid off in full or in part early. The penalty is imposed to encourage borrowers to pay their loan off over time so that lenders can collect interest. Prepayment penalties normally do not apply […]Read More

Low, High, List Price: How Much Should You Offer on a House?

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As the new year opens, you may wonder if you should purchase a home. There is so much causing inflation which is, in turn, taking its toll on the housing market. Not only are sellers losing ground, but currently, even buyers aren’t capturing the market and turning it into a buyer’s market. But waiting to […]Read More

What is a Real Estate Appraisal?

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A real estate appraisal is a professional assessment of the value of a property. This assessment is typically conducted by a licensed appraiser, who will consider various factors to determine the property’s fair market value. Real estate appraisals are often used for a variety of purposes, including assessing the value of a property for sale […]Read More

The Cost of Waiting To Buy a Home

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Purchasing a home is a significant financial decision that requires careful consideration and planning. For this reason, it is reasonable to expect prospective buyers to get cold feet when faced with a less than ideal homebuying market. But does this mean you should pull out of the housing market to wait for the perfect time […]Read More

Understanding Lender Credits In Home Mortgages

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One of the most common questions homebuyers have when taking out a mortgage is what lender credits are and what they can be used for. Knowing this information can help you make informed decisions about your home purchase and get the best possible deal. Let’s look at lender credits and how they can help you […]Read More

Bankruptcy Seasoning Requirements For Mortgages

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Purchasing A Property After A Bankruptcy If you have had to file for a bankruptcy case in the past, you may worry that you will never be able to purchase a property or qualify for a mortgage. Good news! A bankruptcy on your credit report does not automatically disqualify you from obtaining mortgage financing, and […]Read More

How Mortgage Points Work

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Buying A Lower Interest Rate With Points The purchase of a home is often the biggest investment someone makes in their life. With this being such a large financial decision, home buyers must know all the tools at their disposal that can impact their monthly expenses. It’s for that reason that it’s so surprising that […]Read More

How To Buy A Condo In California

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If you’re thinking about buying a condo in California, there are a few things you’ll need to know. This blog post will cover the basics of purchasing a condo in the Golden State, from financing options to understanding HOA fees. We’ll also share tips on finding the perfect place to call home. So whether you’re […]Read More

When Do Mortgage Pre-Approval Letters Expire?

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What Is A Mortgage Pre-Approval? There is a lot of work behind the scenes for a mortgage pre-approval when you are buying a home. While you, as a borrower, are just submitting an application and some financial documentation, loan officers are carefully reviewing your entire financial profile to ensure you qualify for a specific loan […]Read More

How Much Income Is Needed to Buy A Home?

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How Much Income Is Needed to Buy A House? If it is your first time purchasing a home, one of the first questions you probably have is “how can I qualify to buy a house?” or “what can I afford to spend on a house ?” There is no single answer to this question. It […]Read More

What is a CU Score on an Appraisal?

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Collateral Underwriter (CU) is a program developed by Fannie Mae to assess risk. It launched at the beginning of 2015. The CU program helps lenders assess the risk factors associated with a particular appraisal for a subject property by providing detailed information about potential appraisal quality or property eligibility issues. As part of the CU […]Read More

Understanding Compliance in the Mortgage Industry

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For many people, buying a home is the most important financial decision of their lives. It can also be one of the most confusing processes to navigate. One aspect that often causes confusion is understanding compliance in the mortgage industry. What is it? How does it impact homebuyers? In this blog post, we’ll answer these […]Read More

How To Buy An Investment Property With A Low Down Payment

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Many individuals are considering purchasing a second home in addition to their primary residence. The increase in remote work makes buying a second home or an investment property possible for many homebuyers. Whether you want another property to spend time working by the mountains, to use as an investment property, or to enjoy as a […]Read More

What To Know About Buying an Investment Property

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Interested in investing in real estate? Considering owning a rental property? Investment and rental properties can provide a reliable source of revenue, but there’s a lot to consider when making these decisions. Plus, the process of purchasing different types of investment properties can vary from purchasing a primary residence. What Is an Investment Property? An […]Read More

Are FHA Loan Appraisals Public?

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If you are one of the many homebuyers looking to qualify for an FHA loan to purchase a primary residence, you will need to get an appraisal. An FHA appraisal establishes the value of the property you are purchasing and makes sure that it is safe for its new occupants. What Is An FHA Loan? […]Read More

Jumbo Loan vs Second Mortgage

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For buyers looking in high-cost areas, a conventional conforming home loan may not be high enough to finance the purchase of their home. Many homebuyers looking at these higher-priced properties end up using a jumbo loan to borrow more than the loan limit. What Is A Jumbo Loan? Jumbo loans are great for homebuyers who […]Read More

How Does A Rent Back Work; Owner Occupancy Rules

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What Is Needed for a Rent Back Agreement In the fast-moving world of real estate, oftentimes, homebuyers find that the timing doesn’t always align with moving schedules. Oftentimes the sellers may still be trying to find their dream home or might not be ready to move just quite yet. With the option of rent back […]Read More

VA Jumbo Loans in California

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VA loans are a great real estate purchase option for eligible veteran borrowers. Unlike conventional or FHA loans, VA loans allow borrowers to obtain purchase loans with a $0 down payment. Borrowers can even obtain jumbo loans over the county loan limit with no downpayment required. Interest rates on VA loans are very competitive as well.Read More

How Much Income Do You Need to Buy a House?

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When starting on your homebuying journey, most often homebuyers wonder about the cost, what they can afford, and how much income is needed to purchase a home. There are many different factors and calculations that we’ve broken down to help explain how much income is needed to buy a home.  What are Debt-to-Income Ratios? When […]Read More

What Are Interest-Only Mortgages and How Do They Work?

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An interest-only (I/O) mortgage is a type of mortgage in which the borrower is only required to make interest payments for a set initial period. After the initial interest-only period, you can make regular monthly payments (that include both principal and interest), refinance into a different loan program, or pay the remaining balance in a lump sum. […]Read More

What Are Early Pay Off Penalties?

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Early Pay Off Penalties (also referred to as EPOs) are often confused with Prepayment Penalties. The EPO meaning in mortgage language relates to fees charged to a lender when a borrower pays off their loan within a certain period after the loan is sold on the secondary market. What Are “Prepayment” Penalties? Prepayment penalties are […]Read More

What Are The Average Closing Costs in California?

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Closing costs are the various fees and charges buyers face when buying a home that are required in order to close on a loan. Closing costs accrue from lenders and third parties in your loan transaction such as escrow, home appraisers, and title companies. There are some fundamental elements that contribute to the total amount of […]Read More

What To Know About Jumbo Construction Loans

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Future homebuyers may not realize they can build their own home without paying for construction out-of-pocket. Many lenders offer construction loans, which finance construction costs and allow homeowners to design their dream home without breaking the bank. Whether you are picky about floorplans and cabinet colors or tired of spending every weekend viewing new listings, […]Read More

Millennial Homebuying Trends in 2022

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The real estate market has been a wild ride and has made a major impact on millennial homebuying trends. Left and right, we saw people buying and selling property like never before because everyone was benefitting. Buyers had low interest rates so they could get more house for their money. Sellers didn’t have to worry […]Read More

What Are Jumbo Reverse Mortgages

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Jumbo Reverse Mortgages, otherwise known as Proprietary Reverse Mortgages, are intended for borrowers who wish to engage in the benefits of a reverse mortgage, but may not fulfill the requirements for the popular FHA Home Equity Conversion Mortgage (HECM). Some reasons people might get a jumbo reverse mortgage are if they need a loan above […]Read More

Getting A Jumbo Loan With A Low Credit Score

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Jumbo financing guidelines are strict, so a major factor that often holds back many homebuyers from being able to pursue a jumbo loan is their credit score.Read More

7 Reminders For Seller Credits And Repairs

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Seller Credits For Repairs Many homebuyers can get credits for closing costs in lieu of credits for repairs. Sellers are often unwilling to credit anything in hot markets, but sometimes closing credits are necessary to employ in lieu of repair credits. This is because if credits are for repairs, underwriters will require that they be […]Read More

What Are Current Mortgage Rates In Texas?

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What Are Mortgage Rates Today You can view JVM Lending’s current mortgage rates for Texas loans on our website here. Our team updates these mortgage rate scenarios daily; however, our team is also available seven days a week for any questions or custom interest rate scenarios you may need as you plan your homebuying process. […]Read More

iBuyers Vs. Real Estate Agents – What’s The Difference?

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What Are iBuyers? The real estate landscape is always changing. One of those changes is the rise of iBuyers and the rejection of the traditional real estate process (with the use of a Realtor or Real Estate Agent). Both iBuyers and Real Estate Agents share the same goal of assisting in the sale of homes; […]Read More

Why Should You Refinance Your Mortgage?

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What Is Refinancing Refinancing is an excellent opportunity for homeowners to change their mortgage rate and terms to lower their interest rate, monthly payment, or cash out some of their property’s accumulated equity.  There are two types of refinances available for homeowners:  Rate/Term Refinance: A rate and term refinance is the refinancing of an existing […]Read More

What Is A Conventional Loan?

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What Is A Conventional Loan Conventional loans are a favorite for homebuyers with decent credit scores and who have a fair amount of funds for a down payment. Conventional mortgages should not be confused with “Conforming Mortgages.” Conventional mortgages are institutional mortgages that are not insured by the FHA (Federal Housing Administration) or guaranteed by […]Read More

Average Texas Monthly Mortgage Payment In 2022

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Just how much can homebuyers expect to pay their mortgage in Texas every month? Based on existing median home values in Texas and a current mortgage interest rate of 3.5%, we’ve calculated the average mortgage payment and all-in housing costs for a Texas homebuyer. For a free, fully customized monthly mortgage payment scenario, don’t hesitate […]Read More

Programs and Loans For A First Time Homebuyer

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As a first time homebuyer, you have many loan programs and grants to choose from that help you afford your first real estate purchase. We’ve compiled a list of some of the best of these programs, grants, and loans that generally assist with the down payment and closing costs for first time homebuyers like yourself. […]Read More

When Is The Right Time To Refinance Your Home

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You’ve probably seen quite a few ads or news indicating it is an excellent time to refinance because of the current low rates. Refinancing can be a smart financial move when it reduces monthly payments, lessens the duration of the loan, or grows your home equity faster. However, there is still an important question to […]Read More

How To Get Pre-Approved For A Mortgage

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A pre-approval is a way to be a step ahead when it comes to house hunting. It is a requirement for all homebuyers who plan to use a mortgage loan to finance their purchase. What Does Pre-Approved Mean For A Mortgage Not to be confused with a pre-qualification, a pre-approval is an in-depth verification process […]Read More

What Is A Jumbo Loan In California?

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What Is A Jumbo Loan? A jumbo loan in California is a loan amount that exceeds the conforming county loan limits set by the Federal Housing Finance Agency (FHFA). A jumbo loan is a conventional (not government-insured) mortgage loan. Because jumbo loans do not conform to the loan limits set out by the FHFA, they are not […]Read More

What Is A Jumbo Loan In Texas?

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So, what is a jumbo loan in Texas in 2022? A jumbo loan is a conventional (not government-insured) mortgage loan that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac, the two government-sponsored enterprises (GSEs) that buy and securitize mortgage loans. Jumbo loans usually have stricter underwriting guidelines because they are not […]Read More

The Difference Between Purchase and Refinance Mortgages

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  Purchase mortgages and refinances are both home loans, but they serve very different purposes. A purchase mortgage is a type of loan that homebuyers apply to finance the purchase of a new home. A refinance mortgage is the process homeowners go through to change their mortgage rate and terms. While purchase and refinance loans […]Read More

How To Qualify For A Mortgage As A First-Time Homebuyer

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Many first-time homebuyers have questions about how they can qualify for a mortgage. One of the best ways to start the homebuying process as a first-time homebuyer is to gather as much information as possible at the onset of the process.  Check Your Credit Score Credit scores play a pivotal role in determining a  first-time […]Read More

What’s The Minimum Down Payment In The Bay Area?

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When applying for a mortgage loan, clients must indicate a proposed down payment. Homebuyers have several options when it comes to the size of their down payment. The minimum amount required varies from one mortgage program to another. Here we’ll examine the minimum down payments required for a conventional mortgage in California. Minimum Down Payment […]Read More

Closing Your Home Loan In Five Easy Steps

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Throughout the homebuying process, borrowers often have questions about the closing process for their home loan. There are quite a few steps to this process, and we understand that it can lead to confusion and frustration if buyers are unaware of the process. To help alleviate some of the confusion, we’ve outlined the closing process […]Read More

What Credit Score Do I Need To Buy A Home?

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When looking to buy a home, many will ask themselves, “what credit score do I need?” This will depend on the type of mortgage loan you’re applying for as well as the mortgage lender you work with. Even if you do not have perfect credit, or in fact, have a poor credit score, it’s still […]Read More

A Second Home Vs. An Investment Property

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Looking to purchase a second home? Or maybe your goal is to buy an investment property. It’s important to know the difference between an investment property and a second home. Especially because obtaining mortgage financing for each of the two is a very different process where the costs can vary dramatically.  Differences Between Second Homes And […]Read More

Conforming Loan Limits In California 2022

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  The U.S. Median Home Price has increased over 15% year over year – so it is no surprise that the Federal Housing Financing Agency (FHFA) has increased the Conforming Loan Limits significantly for 2021. Conforming Loan Limits refer to the maximum loan amounts that Fannie Mae and Freddie Mac will allow for financing for […]Read More

Down Payment Assistance Programs for Healthcare Workers

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Down Payment Assistance Programs For Healthcare Workers Buying a home while also being a healthcare worker can be difficult, especially for those who want to buy a home in California. The added stress of managing your finances to fund your down payment can make a home loan seem incredibly daunting. Luckily there are some excellent […]Read More

What Is A Cash-Out Refinance In Texas?

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Homeowners in Texas continue to see an increase in home value and are now finding themselves with more equity in their homes. Many Texas homeowners are eligible to utilize a cash-out refinance to convert some of their equity into cash, but what exactly is s cash-out refinance? What is a Cash-Out Refinance? A cash-out refinance […]Read More

Should You Rent Or Buy A House?

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Should you rent or buy a home? Many people are considering buying a home – and for a good reason! There are many advantages to buying a home: enjoy more space, build equity, and decorate and paint the walls however you like without asking a landlord. But, there are advantages to renting – especially if […]Read More

Student Loan Cash-Out Refinances

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Millennials are one of the largest demographics and have taken the housing market by storm. Millennials accounted for 38 percent of home purchases in 2020 and more than half of all new mortgages. Yet, while millennials make up a sizeable portion of the housing market, over 45% of millennials have student loan debt. For homeowners […]Read More

12 Tips For First-Time Homebuyers

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Many first-time homebuyers are excited about the opportunity to invest in themselves and begin building generational wealth through their home’s equity. Here are JVM’s best tips for first-time homebuyers, founded on our team’s expansive knowledge and experience with helping thousands of homebuyers navigate the mortgage process. 1. Prepare For The Financial Responsibility The number one […]Read More