When you go through the mortgage process, there are many steps involved. As we have discussed in previous blog articles, you’ll need to complete steps such as pre-qualification and pre-approval. But there is also a
This article will help you understand the basic tax implications of giving a downpayment gift. For many people, the downpayment is a significant barrier to homeownership. For most mortgages, you need roughly 5% to 10%
Many people struggle to build a downpayment, causing them to avoid homeownership entirely. To help struggling loved ones and friends, some people give generous cash gifts, which can then become a borrower’s downpayment, creating an
The downpayment for a mortgage loan is often the largest hurdle between a would-be buyer and homeownership. For this reason, many buyers receive cash gifts from relatives, using the money to jumpstart their purchase. But
Of all the ways to complete a home purchase, using FHA financing is often the most popular. These loans have convenient terms that make them available to numerous borrowers, and with affordable rates, many people
As a first-time homebuyer, you have a lot to consider. There are new terms, new information, and important concepts to learn. In many cases, the confusion is compounded by “advice” from friends, family, real estate
No-income investment property loans are a wonderful tool for numerous investors across the country. They allow investors under specific circumstances to qualify for loans with greater efficiency and convenience, and allow people to enhance their
Generating all the funds you need for mortgage down payments and reserve requirements can be difficult. Equaling thousands of dollars, and in some cases tens of thousands, this can be a significant burden for many
The state of Washington has an escrow process that is similar to other areas where an escrow agent is used to complete the process. During escrow, the buyer’s funds and the purchase contract are held
We all need a little help sometimes. When it comes to mortgage qualification, this help can often come in the form of a financial gift. Giving gifts money from a donor’s business is fairly typical,
Chad Baker
Originating Branch Manager
NMLS #329451
858-353-8331
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