Tag Archive for: Loan-to-Value Ratio

How to Maximize Your Purchasing Power with 1st and 2nd Combo Loans

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1st and 2nd combo loans, also known as piggyback loans, are a financing option that involves taking out two mortgages simultaneously to fund the purchase of a home. These loans consist of a first mortgage, which covers the majority of the home's purchase price or value, and a second mortgage that provides additional funds. 1st and 2nd Combo loans can typically only be used for owner-occupied properties that are used as a primary residence.Read More

Fannie Mae’s Greatest Hits! (You Don’t Want To Miss This)

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We recently locked a refinance for a borrower at 6.875% – after he was quoted 5.25% by another loan officer. The borrower did not use the other loan officer because […]Read More

How To Minimize Your Down Payment

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Homebuyers don't have to use a 20% down payment when purchasing a home. These are some tips on how you can minimize your home's down payment.Read More

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

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

3 Ways to Avoid PMI When LTV Is Over 80%

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There are 3 ways to avoid monthly Private Mortgage Insurance (PMI) when a down payment is less than 20%: (1) Combo Loans; (2) Lump Sum or Single Payment PMI; and […]Read More

High Loan-To-Value Financing for Well-Healed Borrowers In Hot Markets

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We often discuss high loan-to-value (LTV) financing (90% to 96.5%) with borrowers who would otherwise put down 20% or more. This is b/c they are making offers in very hot […]Read More

Eliminating Private Mortgage Insurance or PMI

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Here are three options for eliminating the private mortgage insurance (PMI) obligation associated with a conventional loan (FHA MI is permanent). Option #1 – Refinancing: If your property appreciates to […]Read More

Appraised Value Higher than Contract Price? Irrelevant

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We are financing a condo purchase in Newport Beach and the appraisal came in $13,000 over the contract price. This was a big surprise, given the strength of the current […]Read More

Home Equity Line of Credit (HELOC) Explained – Terms

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Home Equity Lines of Credit (H.E.L.O.C.s) are popular once again b/c borrowers now have more equity in their homes and b/c HELOCs are the “10” in our “80/10/10” financing. 80/10/10 […]Read More