Thursday, November 20, 2014
Now’s a good time for current homeowners and homebuyers alike to apply for these mortgage packages. Considering that FHA and VA loans have very stringent requirements, though, people will need reliable mortgage companies—like Iron Point Mortgage, for instance—that can help them find the right home loans in Sacramento, Roseville, Folsom and other places in California. VA loans themselves are quite popular in the state, as Veterans United reported some 53,860 VA loan applications made by Californians in 2013, which is among the largest figures in the country. However, a VA loan applicants must have sufficient credit, reliable sources of income, and a valid Certificate of Eligibility (COE). Current and former service members of the military can obtain COEs provided they were honorably discharged from service and meet the minimum wartime or peacetime active duty service requirements.
Tuesday, November 18, 2014
Fortunately for homeowners within the state, these tax increases do not exceed the value of their homes as calculated under Proposition 13, which is 1 percent of the properties’ sale price, plus an additional 2 percent for the subsequent years. At any rate, this piece of news just goes to show that home ownership also entails certain tax responsibilities. As such, homebuyers should consider the tax implications of home ownership before they get a home loan in Roseville, Sacramento, or elsewhere in the state. It would be wise to consult reputable mortgage lenders, like Iron Point Mortgage, who know more about California’s property tax laws than most people.
Sunday, November 16, 2014
On the other hand, refinancing may not necessarily be the best move in certain cases, depending on the length and/or terms of the previous loan. For example, the Federal Reserve Board discourages homeowners from refinancing if they’re pretty far into their current loan’s duration, given that applying for a new loan essentially restarts their ‘amortization’. This is the process where succeeding loan payments will be made to build equity rather than pay for interest. Californians can consult an experienced mortgage broker in Sacramento for more about this matter. In the meantime, those who wish to take advantage of the incredibly low interest rates should jump at the chance while it lasts.
Friday, November 14, 2014
"Given these factors, it’s important for homebuyers to assess their financial capabilities very carefully before they seek a Roseville home mortgage package that suits them best. They must take their regular income and expenses into account because these will tell them whether they can meet the regular mortgage payments or not. Fortunately, a reliable mortgage banks such as Iron Point Mortgage can provide online mortgage calculators to help buyers get their bearings. Buyers will be needing all the help they can get, given that home prices in Roseville, Sacramento, and other places have just set all-new highs."