Tag Archive for: down payment

PMI Can Help Homebuyers In California

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Weighing the pros and cons of PMI? Many homebuyers have questions about mortgage insurance so we've outlined the ins and outs for California homebuyers.Read More

Rent Credits For Down Payment Funds

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This is a quick reminder that renters can use “rent credits” towards their down payment. The entire down payment can be in the form of a rent credit in fact. […]Read More

Pre-Approval #s DOUBLE Year Over Year; Gift Of Equity In Lieu Of Down Payment

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JVM formally pre-approved 268 borrowers for the purchase of a home in June. This was an all-time record for us and up over 100% from last June, when we only […]Read More

How Much Does It Cost To Buy A House In California?

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Given that house prices and mortgage rates change over time, many homebuyers wonder, “how much does it really cost to buy a house in California?” The home’s actual price is just one of the costs buyers face when they decide to buy a house in California. There are a variety of fees along the way that are collectively referred to as closing costs.Read More

How to Get a Low Down Payment: A Guide for Borrowers

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For many homebuyers, the down payment is the most significant obstacle on the road to homeownership. This is why so many homebuyers are looking for mortgage loans with low down payment options when purchasing a home.Read More

FHA Loan Requirements for California Homebuyers

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The Federal Housing Administration (FHA) loan program has been helping homebuyers since its implementation in the 1930s. Today, it’s one of the more popular mortgage financing options, but there are some general criteria you should be aware of when considering an FHA loan. Here’s a look at California FHA loan requirements.Read More

Gift of Equity Instead of Down Payment – When Family Sells to Family

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Gift Of Equity This is a reminder that sellers can “Gift Equity” as all or a portion of a down payment. If the entire down payment is a “Gift of […]Read More

10% Down With No PMI; Overrated?

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Most agents and buyers know that Private Mortgage Insurance (PMI) is usually necessary when a buyer puts less than 20% down. What most people don’t know is that almost every lender offers a “10% down loan with NO PMI,” even though loan officers often market these products as “unique offerings.”Read More

Why Cash-Heavy Buyers Should Put LESS Down – Liquidity and Investment Returns!

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We have had so many “cash-rich” borrowers ask us if they should put more money down lately, that we thought we should repeat this popular blog. Long-story-short:  borrowers usually should […]Read More

8 Ways To Lower Debt Ratios & Qualify for More

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I repeat this topic from time to time b/c “Debt Ratios” weigh so heavily in our pre-approval process and b/c tight debt ratios so often prevent borrowers from buying the property […]Read More

There Is No “30 Year Rate;” Many Factors Influence A Buyer’s Rate

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We often have buyers or agents ask: “What is your 15-year rate today?” Or “What is today’s interest rate?” We always respond by explaining there is no single rate, b/c […]Read More

Study Shows Mortgage Insurance Lessens Difficulty In Obtaining Down Payment

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California’s increasingly competitive market has made property prices soar. With the high price tag associated with California real estate, many homebuyers are increasingly concerned about how they will afford a down payment on a home.Read More

52% of Homebuyers In California & Nationwide Have Down Payments Less Than 20%

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FHA loans are an excellent option for California homebuyers who are in the market to purchase a property but are lacking the funds for a 20% down payment.Read More

The Loan-to-Value (LTV) Ratio: A Guide for Borrowers in California

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The Loan-to-Value Ratio (LTV) is a mortgage term homebuyer and homeowners should become familiar with if they plan to apply for a home loan. Mortgage lenders will mention LTV often while explaining the mortgage qualification process and different loan products. Today we’re giving a crash course in LTV and explaining the impact LTV has on purchasing and owning a home.Read More