I am a Licensed Loan Officer in Rancho Cucamonga CA assisting with VA, FHA, USDA & Down Payment Assistance home loans for purchase & refinance transactions.



Weather you are buying or refinancing a residential property, work with a properly Licensed Mortgage Professional in the state of California. Those individuals who hold a NMLS (Nationwide Mortgage Licensing System) number has taken the necessary steps to quote and discuss home loan programs. Ask the loan officer you are looking to have them assist you with home loan for their NMLS numbers and if they did not have one do not work with them and once they give you the number look the number up HERE to ensure it is current, mine is 292056.

I have been a part of the mortgage industry since 1988 and have seen the changes in our business go from the far right, to the middle and then far left. Some positive and some negative for the business and for the consumer. That is why it is important to work with a full time dedicated loan officer who understands your goals of homeownership. This is your home and you want to make sure your mortgage fits your budget and needs, that is why it should be a goal of every loan professional to present you with options and review those options with you.

I have spoken to thousands of people over my mortgage career and the goal for most homeowners is to ensure their budget is meet with the payment, cost and rate and along the process have excellent communication and customer service with the loan officer. The last thing you should have to deal with is a bad rate and bad customer service, that will make the process very stressful and that is something you do not want to contend with when buying or refinancing a property.

Buying or refinancing a home is stressful enough, we as professionals do not need to add to that stress. It is my goal, to try and alleviate as much as I can from what you have to do during the process of the home loan. You are paying us to ensure we know what we are doing and make sure you have a smooth and pleasant experience with your home loan process.

When you are ready to buy or refinance house, look the loan officer's name up to see what others are saying about that person's work ethic and see what they have to offer, the web is a big resource of information and what you see on the web can influence your decision on which licensed loan officer best fits your needs. Please google my name Nathan Rufty and I welcome the opportunity to assist with your home loan needs.

Being a loan officer in the mortgage industry has been very rewarding for me, helping a first time home buyer buy their very first home is exciting for them as well as myself. I love seeing and hearing the excitement when I connect with them and letting them know their loan is done and they are homeowners, what a feeling. When choosing my service, I am vested in the process with you, the goal of mine is to see how we can be of service to get your loan approved, if that can not be now, I draw up a plan to see what it will take for you to be in the position to purchase or refinance a home. If you are willing to follow the steps, I am willing to take those steps with you.

Let's discuss your plans and goals on how to buy or refinance a home that is right for you, not for me but for you. I enjoy educating people about our industry that is ever changing and that is the key when working with a loan officer is their knowledge of the industry. With the new NMLS in place, it has eliminated a lot of people who should have not been the industry, I am a veteran of home loan lending since 1988 and I made it through the melt down through 2008 to 2009 and still here today helping those seeking a Loan Officer in Rancho Cucamonga. 

Looking to buy a house in Ontario CA in the Inland Empire area of San Bernardino County. What type of home loan programs are available to purchase a home?

There are several home loan programs to purchase a house in Ontario CA such as loans with FHA, VA, Fannie Mae, Freddie Mac and Down Payment Assistance home loan programs.

The FHA home loan program are not limited to first time home buyers, this loan program is available to the vast majority of home buyers today. As of today the down payment is as little as 3.5% down of the purchase amount, which can come from a DPA (down payment assistance) program, gift from a family member, retirement plan and many other approved source of funds. The debt to income ratio can go higher than other loan program, once of the highest allowed, some compensating factors will help with an approval of a high debt to income ratio such as higher credit scores and reserves of funds that are sourced and verified.

The VA home loan program is available to active and retired service members that are in good standing with the Veteran's Affairs. This is a no money down payment purchase program in California with no monthly mortgage. This by far is the best performing home loan program on the market today, even at 100% financing with very liberal underwriting standards this loan program has the lowest foreclosure and delinquency rates amongst all other purchase programs. If you are a active or retired military personnel this is the program for you.

The Fannie Mae and Freddie Mac home loan programs almost a mirror image of one another with some minor adjustments with underwriting qualifications. Both now offer a 3% down payment purchase home loan program, this opens more opportunities for homebuyers to compare this option with the FHA loan program. Putting less than 20% for the down payment will require monthly mortgage insurance, on the Conventional loan program the MMI can be bought out and will eventually drop off, unlike FHA will remain throughout the life of loan if you put less than 10% down. Fannie Mae and Freddie Mac do have tighter underwriting standards than any other purchase programs, but still an option to explore when buying a home in Ontario California.

There are many Down Payment Assistance Program in California starting with local cities, counties and statewide programs. There are DPAs that are open to non-first time home buyers, a great option to purchase a house with limited funds to do so. The DPAs do have income limits that depend how many dependents will be living in the home, more dependents there are the more income can be used to qualify for the programs, some of the programs have high income limits so do not count this option out till we investigate your option utilizing a Down Payment Assistance programs.

There are several other purchase programs in the state of California that one can take advantage such as the USDA-RD no money down purchase program (not available in Ontario CA) as well as the HUD 184 Native American home loan program.

I welcome the opportunity to discuss your goals of buying a home in Ontario CA weather a first time home buyer or rebound buyer, let's explore your lending options. Call or text me at 909-503-5600 or email me HERE to start the conversation.

by Nathan Rufty   

 

3 Tips to Get a Loan Approval When Purchasing a House! 

Can't Get Pre-Approved for a Mortgage in Southern California? Here Are Three Tips to Try to Get a Loan Approval When Buying a Home!

Very few homebuyers can afford to buy a house upfront with cash, which is why banks and other financial institutions offer purchase home loans. Also known as mortgages, these types of loans let you make monthly payments to pay off the money you borrowed and the interest charged on that loan. If you can not get approved for a mortgage in California, try implement these few easy tips below.

Improve Your Credit Scores and Over Credit Report:

When applying for a home loan in California, the lender looks at your credit history and credit scores first. Your credit history contains a long list companies you borrowed money from in the past and present, it also shows your total debts, medical bills and if you had any foreclosures, late payments, collections, judgments and bankruptcies. Your credit score is a three digit number based on your ratio of debt to credit, any defaults on your account and any other issues will have an effect on your over all credit profile.

If a lender denies you for a home loan, get your credit scores before you apply again with another lender in California. Even something as simple as paying off more of your debt (pay the revolving balance debt down or off, do not close the account, leave it open) can increase your scores by a few points. Eliminating bad debts and removing any mistakes from your credit report can also increase your credit scores. 

Apply with a Cosigner, like a family member:

Applying for a loan with a cosigner is another option for those with credit issues or debt to income ratios that do not meet underwriting guidelines. The co-singer can help the over all pre-approval when you are applying for a purchase home loan. You want to find someone with a close connection to you such as a family member and someone who has a good credit scores.

Your cosigner will be agreeing to be responsible for that mortgage as well if you happen to default on that loan. The loan will also appear on the cosigner's credit report, which means you need to find someone who is willing to take a chance on you.

Look for Less Priced Home in Southern California:

When applying for a home loan, the lender looks at your credit history, your income, the ability for the down payment and other important qualifying factors to determine how much money you can borrow on a purchase home loan. Applying for a more expensive home might result in a rejection for that higher priced home. The lender will determine based on the information supplied that you may not be able to budget at a certain purchase price, applying for a home that is priced less might help your monthly budget to be able to qualify for a home loan.

It is possible for you to obtain a mortgage that meets your budget and buy a home of your dreams. Applying with a cosigner, improving your credit and looking at a different price point might help your chances in obtaining a full loan approval.

I welcome the opportunity to discuss your goals on purchasing a home in Rancho Cucamonga California. Please complete a short inquiry form HERE or call me directly at 909-503-5600. I look forward in hearing from you and reviewing your plans of homeownership.

by Nathan Rufty

18 Questions to Ask when Interviewing a Real Estate Agent in Rancho Cucamonga, California when Buying or Selling a Home!

 

If you are looking to buy a home or sell a house in the city of Rancho Cucamonga, CA, you’ll probably want to not only find the best agent for your needs, but one with integrity and one that knows the real estate industry. They do not have to be your best friend, but they should be someone that you genuinely know, like and trust, because you will be spending a lot of time with him or her.

Start with recommendations from family and friends. Ask what they liked about them. What they did not like. And then take it one step further — spend about 30-45 minutes and ask them these questions!

1. How long have you been selling residential real estate?
2. Is it your full time job?
3. What are your credentials?
4. What other type of real estate training courses have you had?
5. How many homes did you sell last year?
6. How many buyers did you represent?
7. What’s the average time to sell a home (if listing your home for sale)?
8. How do you plan to market my home for sale?
9. What’s the average time it took you to sell your listings?
10. What’s the average time you spend with someone buying a home (if buying)?
11. How close to the asking price, versus the sales price, are you able to negotiate (both for buyers and sellers)?
12. Will you represent me exclusively (if you are a buyer)?
13. How many lenders do you work with (if you need a mortgage)?
14. Why do you like working with these lenders?
15. What other service providers do you work with?
16. Do you get any compensation when you refer them to me?
17. How will you communicate with me?
18. How often should I expect to hear from you?

Just a couple of things to keep in mind when selecting the right Realtor®. Experience is not a guarantee that the person is successful. Ask additional questions if you don’t understand the answers. Ask for references. Make the telephone calls. And before you buy a home in Rancho Cucamonga, by all means get pre-approved ahead of time.

I welcome the opportunity to review your income, credit and ability for the down payment and present you with loan options that will fit within your budget. My goal is to ensure your best interest are mind when you are looking to sell or purchase a house in Rancho Cucamonga, because this will be one of if not the biggest single purchase you will ever have and it should be done right the first time.

by Nathan Rufty