HARP Loans California

Underwater homeowners were taken aback when HARP loans in California were no longer available. Luckily, the High LTV Refinance Option (Fannie Mae) and the Freddie Mac Enhanced Relief Refinance (FMERR) have been set up instead. Learn more about these options and how you can apply for them today. Please visit us: https://ezonlinemortgage.com/harp-refinance

Everything You Should Know About a Jumbo Home Loan

Jumbo home loans are possibly the most generous home loans available. Available with a fixed or adjustable interest rate, they offer borrowers amounts above $484,350, which is the conforming loan limits set by Fannie Mae or Freddie Mac for 2019.

Benefits of Jumbo Home Loans

Unlike conforming loans, jumbo loans can cover up to 80% of the property’s value, or offer millions to qualified borrowers. It also spares individuals with a hefty income from having to secure multiple conventional loans. First time buyer mortgage borrowers can easily get all the funds they need in one go.

Some lenders provide additional perks with their loans. For instance, you can get a jumbo 30 year fixed mortgage in California with no private mortgage insurance. These incentives make jumbo loans deliver more value to future homeowners.

Eligibility Criteria for Jumbo Loans

As this type of loan is larger and riskier for lenders, its criteria are stricter than other first time buyer mortgage products. To be eligible, you need to have the following:

• High Credit Score – You need to have at least a credit score of 700 to qualify. Some lenders will go as high as a 720 FICO score to protect their investments.

 

• Ample Cash Reserves – Lenders will be more flexible if you have sufficient cash reserves which can cover your mortgage payments for a year.

 

• Documents Proving Financial Health –You’ll need to provide more documentation than you would for a regular 30 year fixed mortgage in California. From tax returns to W2s and 1099s, prepare all the documents which indicate you’re financially healthy.

 

• A Second Home Appraisal – You may need to spend a little extra money to get a second appraisal of the property you wish to buy.

Be Forewarned – Getting Jumbo Home Loans Isn’t Easy

As tempting as it sounds, a jumbo home loan pre approvalis a little more difficult to get because:

• This type of loan isn’t offered by all banks or lenders.

 

• Underwriting guidelines can be different from vendor to vendor.

 

• Loan qualification criteria are quite strict, especially credit score criteria.

 

• At least a 10% down payment will be required.

If you think this home loan is perfect for you, get in touch with a reputable broker and discuss your options. You’ll even get an idea of how much you can borrow after a home loan pre approval.

Source By: https://activerain.com/blogsview/5409639/everything-you-should-know-about-a-jumbo-home-loan

FHA Loan Providers

Forget about the woes of living in a rental, and move into your first home before the end of this year! With our FHA loan providers, secure your new home with as little as 3.5% – regardless of your credit score. Contact us now and start your journey towards homeownership today. Please visit us: https://ezonlinemortgage.com/fha-loans

Mortgage Loan Pre Approval

Mortgage prequalification and mortgage loan pre Approval are different. Prequalification only gives you an estimate of what you can borrow. Meanwhile, preapproval confirms your creditworthiness and provides an offer to lend you a specific amount. So, make the right choice before buying a home. please visit: https://ezonlinemortgage.com/pre-approval

Harp Refinance

Just because the HARP refinance program wrapped up in December 2018 doesn’t means you have to worry about losing the roof over your head. The government has already rolled out a few programs to replace it. So, don’t miss the chance to refinance your home loans in 2019. For more information please visit: https://ezonlinemortgage.com/harp-refinance

Mortgage Consultant

Having a reliable mortgage consultant or broker by your side enables you to enjoy more choices and better prices. Not only will they sift through the options you can avail, they’ll represent you while dealing with lenders to ensure you get the best deals. For more information please visit: https://ezonlinemortgage.com

Home Loan Refinance

Considering applying for home loan refinance? Then make sure to understand the numerous options available for you. Even if you have bad credit, the help you need is just a click away. From loan Pre Approval to jumbo loans, all the guidance you need is available here. For more information please visit : https://ezonlinemortgage.com/refinance

 

Lower Mortgage Payment

Mortgage rates have been declining further in August 2019. With rates remaining historically low for quite some time, this may be the perfect time to lower your mortgage payment. Just make sure to partner with the right consultant and go thoroughly over your options. Please visit us: https://ezonlinemortgage.com/lower-your-payment

First Time Buyer Mortgage

By January 2021, CFPB plans to eliminate the “ability to repay/qualified mortgage” patch which allows Freddie Mac and Fannie Mae to get loans which exceed the standard 43% debt-to-income ratio. Get in touch to find out what that means for first time buyer mortgage and get the best deals fast.

Please visit us: https://ezonlinemortgage.com/first-time-home-buyer

Home Mortgage Pre Approval

Your journey towards home ownership starts at a home lender’s office, not an open house. Improve your chances of getting the house you want by getting a home mortgage pre Approval letter right away. Visit our website and let us help you get the process started today. please visit us: https://ezonlinemortgage.com/pre-approval