Financing a Home

What is a California Jumbo Loan? Depending on the amount you need to borrow and the property location, you may need to finance your home with a jumbo loan. A jumbo loan in California is a type of mortgage that exceeds conforming loan limits....

There are six distinct phases of the mortgage loan process: pre-approval, house shopping; mortgage application; loan processing; underwriting and closing. Here's what you need to know about each step. 1. Mortgage Pre-Approval Mortgage ...

Have you ever asked yourself, “What credit score is needed to buy a house?” The short answer is: Lenders typically want to see a minimum FICO score of 620. The long answer is: It depends. Lenders weigh more than just your credit score ...

First Time Homebuyer Programs in California Houses in California are expensive when compared to other states. Buying a home here can be very challenging for first-time homebuyers, especially younger folks who've not built up the kind of cash ...

This Article Was Updated July, 2021 Tired of renting and ready to buy a home in California? Perhaps you relocating to California? Or, maybe you already live here and have decided it’s time to move up to a bigger home? Whether you’re a ...

California Loan Limits California Conventional Loan Limits California conventional loan limits cap the size of mortgages so that they meet Fannie Mae and Freddie Mac guidelines. Those two government-sponsored entities (GSEs) buy mortgages and ...

VA home loans are guaranteed (but not made) by the US Department of Veteran’s Affairs (VA). The actual loans are underwritten and funded by private institutions (mortgage companies, credit unions and other lenders). The VA’s ...

Key Takeaways: Mortgage pre-approvals ensure a smoother home buying experience The pre-approval process begins when your lender creates a loan file with your loan application and credit report You'll add a few mortgage pre-approval documents to ...

What is a Pre-Approval Letter? A pre-approval letter is a document that states the loan amount a lender is willing to make to a borrower. It is not a guarantee to lend, but it carries significant weight, especially to other parties in a real estate ...

What is a Mortgage Commitment Letter? A mortgage commitment letter sets up a borrower with the highest state of readiness to buy a home. Mortgage commitment letters are only issued if the borrower and property meet underwriting ...

What is a Mortgage Gift Letter? Saving for a mortgage down payment is a big challenge for many people, especially first time home buyers. That’s nothing new; it’s always been true. Fortunately, many of the most popular mortgage programs ...

What Are VA Approved Condos? VA approved condos include any townhouse or condominium unit within a VA-approved project. The word project refers to all the individually-owned condominium units plus the common areas combined. The VA puts a stamp of ...