JVM Lending is currently unable to accept new refinance applications because we have exceeded our loan volume capacity limit and are unable to process new refinance loans until our current pipeline is cleared.

We sincerely apologize for this inconvenience. However, we are still accepting new home purchase applications, as we still have capacity in our purchase division.


Average Closing Costs for Home Buyers in California

Average Closing Costs for Home Buyers in California Closing costs are the various fees and charges buyers face when purchasing a new home. Closing costs can accrue from lenders and third parties that are involved in your loan transaction such as escrow, home appraisers, and title companies. There are some fundamental elements that contribute to […]Read More

Seller Closing Cost Credit Can Be 6% – Explained

Seller Credits for Closing Costs can equal 6% of the sales price, irrespective of the sales price. Hence, a $700,000 purchase could have a $42,000 seller credit for closing costs. Problems arise, however, when closing costs do NOT total $42,000. If closing costs only total $22,000, for example, the buyer simply loses the unused $20,000; […]Read More

Closing Cost Credits – Revisited

Credits for Closing Costs on a purchase contract should just be for “Closing Costs”, and not for only “Non-recurring Closing Costs.” Very few lenders restrict-seller credits to only “Non-recurring Costs” these days. There is no reason to restrict credits to only non-recurring costs; it just requires the buyer to bring in more money. In addition, […]Read More

Seller Credits for Closing Costs

Remember that at most lenders, we can use Seller Credits for Nonrecurring and Recurring Closing Costs (this includes Impound Accounts). Closing Cost Credits can be up to 9% of the purchase price if the LTV is 75% or less (for conventional loans). FHA still allows 6% seller credits, even if the LTV is 96.5%. Investment […]Read More