Purchase Mortgage Loans
Purchase Home Loans from Sonoma County Mortgages
Sonoma County Home Purchase Loans made easy and convenient. Looking for a mortgage to purchase a primary residence? How about a purchase mortgage loan for a second home or even an investment property. We offer flexible and competitive mortgage rates for purchase mortgage loans throughout Sonoma County.
Here's how we work:
- Complete No obligation mortgage rate quote online prequalification form, securely
- Receive Mortgage loan numbers for your unique scenario
- Give us a call to discuss to discuss the mortgage loan numbers
- Select the loan program that makes the most sense for you
Begin a secure online mortgage rate quote request today. Choose from a variety of local mortgage loan programs. We offer fixed rate mortgages and some variable-rate programs.
Get pre-qualified today quickly and securely. Choose the right purchase mortgage loan for your financial situation. Our system allows you to compare loan programs against each other to determine which program makes the most sense for you. Compare mortgage rates on fixed-rate mortgages as well as deciding whether not to pay discount points.
Need help deciding which mortgage loan program makes the most sense? Check out our mortgage tips with the latest news and mortgage loan guidelines or try out our online mortgage calculator for your convenience.
Learn how to begin the home buying process.
Research first time home buyer programs for your home purchase.
Understand the biggest obstacles home buyers have in securing a home.
See how the loan process works from start to finish.
Here are the steps to buying a home.
Yes, buying a house without 20% Down is a reality.
How to document and source monies used for securing a home loan.
See what you can expect to happen to decide to purchase a home.
Learn the loan programs first time home buyers are eligible for. Some government programs have no down payment requirement!
Find information related to investment property mortgage loans.
Learn what the banks want to get your purchase mortgage loan approved quickly.
Recent Questions & Answers
Generally no-in order to get a mortgage these days you must be able to support an ability to repay. An ability to repay the debt by virtue of having income to offset the liability is what home lenders look for. When purchasing a home, bank on providing tax returns, W-2s, pay stubs and bank statements.
When refinancing , plan the same with one caveat. If you refinance with your lender i.e. the servicier of your loan collecting your monthly mortgage payment, they can from time to time, originate a new loan for you without necessarily needing financials, in order to accomplish this feat, you will need excellent credit and extremely low debt to income ratio as well as a loan to value- 60% or lower.
For the majority of consumers seeking loans, following information is needed to get qualified.
- tax returns for the most recent last two years
- W-2s for the most recent last two years
- 30 days pay stubs
- bank statements for the most recent last two months
- profit and loss statement if you’re self-employed with year-to-date income
Looking to get qualified for a mortgage? Try our home affordability calculator or contact scott [Email address: email@example.com #AT# sonomacountymortgages.com - replace #AT# with @ ] today!
Getting a mortgage after foreclosure, short sale, or bankruptcy, or even a combination of the two is absolutely doable. However depending on the credit circumstance different documents could be needed for properly documenting the previous derogatory credit item.
Here’s how to properly document any one of the big three credit issues
Foreclosure- can be documented with the trustee’s sale date deed. Lender will use the latest date stamped on the trustees sale date deed. 3 year window using an FHA insured loan, seven years on a conventional loan.
Short sale-can be documented with the grant deed deeding the property from you the seller to the new buyer. Lender will go by the most recent date stamped on the grant deed as well. 3 year window using an FHA insured loan, seven years on a conventional loan unless 80% loan to value or lower
Bankruptcy-full bankruptcy discharge papers including the schedule of creditors from the most recent discharge date. Lender will go by the discharge date. 4 Year window using an FHA insured loan, four years on a conventional loan.
Most mortgage professionals have a relationship with a particular title company who can who can obtain the information necessary directly from county records making the process dramatically easier.
If you would like to qualify for a mortgage to purchase or refinance a home, start by contacting Scott [Email address: firstname.lastname@example.orgScott #AT# sonomacountymortgages.com - replace #AT# with @ ]!
If on your loan application you marked ‘single’, and you’ve been divorced in the past this could be a double-edged sword and here’s why: while you are presently single that doesn’t change the fact that the past is the past, in other words, if your previously divorced yet your presently single that creates a big open concern for a mortgage underwriter. If there is any alimony paid or received as a result of that previous divorce that can absolutely affect the debt to income ratio and your subsequent ability to qualify for the mortgage, make sense?
Yes it’s possible even your divorce from 15 years ago could still come into play on your new mortgage application. Lenders are required to complete a thorough background check and if there is a different last name and/or hyphenated name, that can be the catalyst to more questions and the revelation of a previous divorce.
How to handle the situation
Tell your lender upfront about your previous divorce and available a copy of the previous divorce decree with all pages, and all schedules including the marital settlement agreement which specifically delineates ‘who received what’ in the breakup. Is it annoying? Absolutely, especially if it’s over a decade ago, but that’s the nature of today’s lending industry- full disclosure on all debts and/or possible debts that might otherwise be not be known in the initial mortgage application.
If you are previously divorced and/or having a difficult time getting a mortgage, start with us today by getting a complementary mortgage rate quote. For nearly a decade, we’ve seen it all.
When buying a home, the seller typically makes an initial request to use a particular title company, however it is not mandatory to accept their choice. In some situations, if you work with the seller’s preferred title company they will discount the title fees. This is very common in bank owned property transactions, but there is a cost, that cost is usually a lack of service because these companies operate under a price model rather than a service model and might only discount a few hundred dollars at the expense of your transaction not closing on time.
When possible it’s recommended to work with the title company recommended by the mortgage company or by your real estate agent. Why? Because most mortgage and real estate professionals have preference on title company because they know which title companies will perform and which are going to make sure the transaction closes smoothly and more importantly, on time.
In a refinance situation, the title company is usually determined by the lender unless you have preference. Ultimately it’s up to the consumer to choose which title company to work with.
Looking for competitive local mortgage lender who has an outstanding relationship with their title company? Look no further contact scott [Email address: email@example.com #AT# sonomacountymortgages.com - replace #AT# with @ ] today!
Unfortunately no, lenders are under very tight scrutiny as our real estate appraisers to make sure there is no outside influence to inflate a property value for the purposes of securing a mortgage. The mortgage company you select a higher for financing is required to choose from a panel of appraisers, from there, they contact you directly to set up an inspection date. It doesn’t matter whether you’re buying a home or refinancing a property you already own, the process works in the same fashion.
How The Process Works
Consumer provides a credit card to the mortgage company, lender in turn provides this information to the appraisal company to charge in accordance with setting up the appraisal. The order is placed through the lender’s billing system and the order is set up to bid.
Once a local appraiser accepts the order, they receive the contact information for the borrower and they subsequently contact that person to set up an inspection date. No longer can you write the appraiser check directly to an appraiser. In some occurrences when purchasing a home the appraiser might be instructed to contact either the buyer’s agent or the listing agent depending on preferences. However, appraiser is under no obligation to contact the agent to inspect the property especially the property has an MLS lockbox key.
Plan on approximately $450 for a home appraisal.
Want to start a new mortgage loan with a guaranteed local appraiser? Contact scott [Email address: firstname.lastname@example.org #AT# sonomacountymortgages.com - replace #AT# with @ ] today!