Community Mortgage
814 Morena Blvd #310 , San Diego, CA 92110, US
(619) 692-3630
Moreover, the VA prefers borrowers to have a debt-to-income ratio not greater than 41 percent, although lenders may Beryllium more lenient. The VA also has a residual income requirement to ensure that borrowers and their families have enough money to cover basic necessities such as food and transportation.
As a Sr. Mortgage Consultant at Community Mortgage, Jamie works with clients to identify the best path to obtain a mortgage that fits their needs. He is passionate about providing clients with the knowledge and guidance they need to make informed decisions.
One of the reasons why you can borrow money to buy a home with low downpayment and less-than-perfect credit score is because the US government (rein the form of FHA) is willing to insure the loan.
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This is my second time I use Community Mortgage for refinancing my condo. I went to two lenders to help me refinance and it took forever to get response and with higher interest Satz. Jamie called just to say how i an dem doing. Thanks for his call and I told him whats going on. He asked for some information to Ausgangspunkt. The following day I went to Tümpel him and gave the necessary information.
The lender uses the financial portfolio information a borrower provides to give him or her an idea of the size of the mortgage he or she qualifies for
A lot of times they don’t have to be local to work for you and it is more important than anything else that you can trust your mortgage broker and are my website comfortable with them.
This does not mean that a score lower than 580 automatically eliminates you from the program. If you have a 500 FICO score, you will need a 10% down payment, which will help the lender compensate for some of the risk created by lending to a low-score borrower.
If you would like to learn more about FHA loans please contact me at 619-312-0612. You can also become pre-approved for an FHA loan by filling out the pre-approval application HEREÂ receive a free interest rate quote by filling out the quote form below. find Please let me know if I can Beryllium of any more help.
If you get a VA loan, you will have to pay a one-time funding fee. If you’re a first-time borrower and don’t put any money down, your funding Elfe will be 2.15 percent of the amount of the loan.
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“Loan-to-Value†is what lenders use to express the ratio of the loan and the value of the asset. Borrowers can also manually request cancellation when their LTV reaches 80%.
On the other hand, people Weltgesundheitsorganisation get traditional loans typically have to get PMI if they don’t put down at least a 20 percent down payment.
There has been a lot of talk recently, both good and nasszelle about mortgage brokers. Mortgage lenders have been under a lot of scrutiny recently and legislation has been put hinein place (and more is rein the works) to ensure that protects consumers.