Can a co-signer help me qualify for a mortgage at 3CALoan?

It’s not as easy as you may think to qualify for a mortgage loan. I mean buying a home is a huge deal! It’s one of the biggest decisions one makes in his or her life. You don’t realize the ends you must meet until you complete an application. A mortgage lender can reject your application.  However, a co-signer can mitigate the frustration and help you qualify for a mortgage. Continue reading “Can a Co-signer Help Me Qualify for a Loan?”

What is Mortgage Insurance?

Say you buy a house with a down payment of less than 20% or even if you refinance with less than 20% equity. In each case, your lender will require you to buy mortgage insurance. The idea of paying a mortgage insurance is to reimburse your lender if you default on you home loan. When a private company sells the insurance, the insurance is known as private mortgage insurance or PMI. You pay monthly premiums when you get a loan. Continue reading “Mortgage Insurance”

What is the difference between FHA Loans vs. Conventional Loans?

Both FHA Loans and Conventional Loans are popular loans among homebuyers. It may not always be so clear which loan to get when buying a home. In this blog post, I will be delineating the pros and cons for both FHA and Conventional Loans. This way, the applicant or potential borrower will find it easier to differentiate the two. Furthermore, the potential applicant—YOU—will know which loan to get! Continue reading “FHA Loans vs. Conventional Loans”

Continue reading “Is it a Good Idea to Pay Off your Mortgage Early?”

What is the difference between Mortgage Pre-qualification v. Pre-approval?

Before I elaborate on the difference between a pre-qualification v. pre-approval, I will give a brief outline on the difference between the two processes. Continue reading “Pre-qualification v. Pre-approval”

Should you consider using a mortgage broker when buying a house?

When you are looking to buy a new house, you are usually trying to find a perfect mortgage loan for the property. Moreover, finding a perfect mortgage loan that fits your financial needs and even your lifestyle is a big job. Finding a good deal can mean that you can receive huge savings on interest over the loan’s life. Continue reading “Is getting a Mortgage Broker Worthwhile?”