Lining Up C.A.R. Purchase Agreement Contingencies With the Loan Timeline
The RPA gives your buyer 17 days to remove the loan contingency. Here is what the lender has to finish by then, day by day, and what it takes to promise less.
Rent Out Your Home or Sell? What to Do When the Offers Are Not There
If the market will not pay what you hoped, renting the home for a year or two can look like the easy answer. Here is what it costs, what it does to your taxes and your next loan, and how to compare it with selling now.
Financing a Property for Short-Term Rental in Palm Springs and the Coachella Valley
Before you finance a desert vacation rental, two things have to be true: the city will let that address operate, and a lender will count the income. Here are the rules in all nine cities and the loans that fit.
How Lenders Calculate Income From Bank Statements
On a bank statement loan, your income is your eligible deposits minus an expense factor, times your share of the business. Here is the math, with a Coachella Valley example.
Prop 19 for Downsizers: How Homeowners 55+ Can Take Their Property Tax Base With Them
If you are 55 or older, Prop 19 lets you sell your home and carry its low property tax base to a new home anywhere in California. Here is how the rules and the math work.
Reverse Mortgages in California: When a HECM or a HomeSafe Loan Makes the Most Sense
A reverse mortgage can pay off your mortgage, give you a line of credit, or keep your low first-mortgage rate in place. Here is how the FHA HECM and HomeSafe loans differ, with seven California scenarios showing which one fits.
Reverse Second Mortgage: Keep Your Low-Rate First Mortgage and Still Use Your Equity
A reverse second mortgage lets homeowners 55 and older borrow against their equity with no new monthly payment, while the low-rate first mortgage stays in place. Here is how it compares with a HELOC, a cash-out refinance and a HECM, with five California scenarios.
Assumable Mortgages: The Loan That Comes With the House
About half of the mortgages in America are at 4% or lower, and some of them can move to the next buyer. Learn which loans are assumable, what an assumption can save, how to find one in California, and how to buy one.
Denied for a HELOC? Here’s How You Can Still Qualify
Turned down for a HELOC? We qualify on the interest-only payment, skip the CPA letter for self-employed borrowers, and fund in as little as 6 days.