What is a HELOC - Home Equity of Line of Credit and do I want one? HELOC is a 2nd lien and also can be a first mortgage lien on your primary property. We need to weigh the pros and cons of a HELOC to see if the benefits outweigh redoing the first mortgage for the cash you are seeking to pay off debt or do some need home improvement projects.
Nathan RuftyMortgage Loan Originator
CA Call or Text: 909-503-5600
Privacy: This e-mail may contain information that is privileged or confidential. If you are not the intended recipient, please delete the e-mail and any attachments and notify the sender immediately, and do not use, copy, or disclose to anyone any of the contents hereof. State Licenses
Active and retired military personal (if eligible) can buy a primary residence with no money for the down payment, which is 100% financing of the purchase price. If you are looking to buy a house in California or Arizona utilizing the VA home loan program, I welcome the opportunity to connect with you and discuss the VA purchase program with you.
Podcast about credit - https://www.podbean.com/eu/pb-89gby-d8fa2a
Podcast about waiting periods - https://www.podbean.com/eu/pb-u2s64-d63be5
How does a mortgage payment increase when on a fixed interest rate? There are 2 main reasons for the monthly mortgage to increase. The property taxes and/or the homeowner's insurance policy increased causing your escrow account to become short.
Review your property tax statement each year to see what your property value is assessed at.
When Buying or Refinancing a house you will need to qualify with verifiable income and monthly debt obligations, known as your debt to income ratio, what income comes in that can be verified versus what debt is going out.
FHA, Conventional, VA, and USDA have different qualify debt ratios for the front in which is total monthly house expense and back end debt ratio which is monthly house expense along with monthly debt obligation such as but limited to credit card debt, student loans, auto loan, and other installment obligations
Please call, text or email me with any questions,
Nathan Rufty Mortgage Loan Originator CA Call or Text: 909-503-5600 AZ Call or Text: 623-850-1210 eFax: 888-837-2861 CA & AZ NMLS #292056 Nathan@NathanRufty.com www.NathanRufty.com Check Out Our Rates Privacy: This e-mail may contain information that is privileged or confidential. If you are not the intended recipient, please delete the e-mail and any attachments and notify the sender immediately, and do not use, copy, or disclose to anyone any of the contents hereof. State Licenses