HOME POINT Financial is excited to announce a brand new Stated Income Verified Asset program for 2015 with loan amounts up to $2 million for qualified borrowers for home purchase, refinance, and cash-out transactions. Below is a brief discussion of...
An Arm’s Length Transaction refers to a real estate purchase transaction in which both the buyer and seller are conducting business from an equal bargaining position, with neither party having any control or influence over the other.  In contrast,...
What is a Non-Qualified Mortgage (Non-QM) and how does it help Southern California homeowners? First, a brief history on what makes a mortgage loan product a "QM", or “Qualified Mortgage.” The Consumer Financial Protection Bureau (CFPB) is an independent agency...
The great American Dream of homeownership is still alive and well in 2015, and it isn’t reserved exclusively for US Citizens! Here’s a brief summary of Home Point Financial's Foreign National & Nonpermanent Resident Alien Home Loan Program guidelines - updated...
Condominium loans are unlike loans for single family residences. The biggest difference is that not only are the qualifications (income calculations, credit history, and down-payment capabilities) of the borrower taken into consideration, but so are the qualifications of the...
The majority of mortgage banks require a minimum down payment of 20% for any loan that is determined a Jumbo Loan. In San Diego County a Jumbo loan is considered any loan amount that is over $546,250.00. There are...
You’ll hear it from everyone you talk to. Your friends and family will all tell you that if you have a low credit score, purchasing a home is nearly impossible. If you are fortunate enough to get approved, they...
Financing a Home Purchase With a HERO Lien or PACE Lien If you found this article during an online search, it’s very likely you, or the property you want to buy (or refinance), is in some sort of a financial...
What is a Condotel? A condotel is a condominium building, usually a high-rise, located in a major city or in a famous resort with an important affluence of tourists that is operated as a luxury hotel, having a front desk,...
If you are looking to complete a purchase transaction for a piece of real estate, you’ll need to make sure that you meet specific requirements, especially if the loan is going to be supported by Fannie Mae. Fannie Mae,...