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Learn more about home loan topics from our blog articles below. We are committed to informing you about home loans and finding the right product for your needs.

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Home Loan Blog Articles from Golden Pacific Home Loans of San Ramon

Stay informed and learn more about home loan matters and housing market from our home loan blog articles below. Scroll down to the Categories section or to the bottom of this page to see more home loan blog articles.

Contact our Golden Pacific Home Loan agents in San Ramon for questions about best home loan mortgage and refinance opportunities.

USDA Home Loan Program

A USDA home loan is also known as a USDA Rural Development Guaranteed Housing Loan Program mortgage loan is a mortgage loan offered by the US Department of Agriculture to prospective homeowners who are interested in purchasing rural properties.

What Can an FHA Loan Be Used For?

An FHA loan offers home buyers many advantages over traditional conventional mortgages, including lower (or no) down payments, generous credit score allowances and more. For this reason, many people may be interested in leveraging an FHA mortgage to purchase an investment property, whether a single family home they will rent out, a multi-unit building they will rent out or a vacation home that may be occasionally occupied by the buyer and occasionally occupied by (often weekly) renters.

APR: Annual Percentage Rate

The APR allows homebuyers to compare different types of mortgages based on the annual cost for each loan. The APR is designed to measure the “true cost of a loan.” It creates a level playing field for lenders. It prevents lenders from advertising a low rate and hiding fees.

Interest Only Mortgage Loans

Are you thinking about buying a home but not sure what you can afford? Have you wondered about interest only mortgages and what advantages and disadvantages they may offer? If so, then you’re in luck because we’ve collected some great information about interest only mortgages!

Loan Application Document Requirements

Below is a list of documents that are required when you apply for a mortgage. However, every situation is unique and you may be required to provide additional documentation. So, if you are asked for more information, be cooperative and provide the information requested as soon as possible. It will help speed up the application process.

What is 80-10-10 financing?

Surprising as it may seem, some folks with hefty incomes find that it’s mighty tough for them to save enough money to make a 20% cash down payment on their dream homes. Using conventional financing, such buyers must purchase Private Mortgage Insurance (PMI) which increases the cost of home ownership and, ironically, makes it even more difficult to qualify for the mortgage.

Loan Types: Conventional Vs FHA

If you’re a first time homebuyer, you’re probably confused about the difference between FHA loans and conventional loans. We’ll go over the main differences, advantages and disadvantages of each loan type:

Potential Risk Features For Lenders

If you’re mentioned below, you might want to take some steps back to determine whether or not you’re really ready for a loan before you find yourself putting out future fires:

Get Pre-Approved! It Will Save You Time

Get pre-approved means you’ll know what you can afford. There are other reasons to get pre-approved before hunting for homes.

Home Equity: What is it?

Essentially, home equity is the amount that differentiates the home’s value and how much the borrower owes. When a borrower pays down the mortgage debt, he or she is also contributing to the home equity.

Bankruptcy – How Soon Can You Buy Home?

How soon can you buy a home after bankruptcy? Depends on a few factors, including whether you filed for Chapter 7, Chapter 11 or Chapter 13 bankruptcy.

Construction or New Build Mortgage Loan

If you are thinking about buying a home in the near future but don’t see much on the market that meets the needs and wants of your family, you might be interested in building your own home in order to ensure that you end up in a home that has everything you’re looking for. With the economy rebounding and getting stronger each month, construction loans and new build mortgages are a popular option for many families.

Low Credit Score and Buying a Home?

The good news is that there are many lenders and mortgage loan programs available for individuals with less than perfect credit. Some lenders are able to work with borrowers with scores as low as the 550’s, and some federally-backed mortgage loan programs like VA loans and USDA loans do not have any minimum credit score requirements.

Closing Your Home: What to Expect

So you’ve found the home of your dreams. You’ve been preapproved for a mortgage and you’ve submitted your offer, with earnest money deposit, to the seller. The seller has accepted your offer, you’ve had a home inspection performed and now you’re ready to close – – what should you expect at the closing?

Refinance Home Loans and Points

Option to pay points or not to pay points could be left to the borrower to decide, with advantages and disadvantages to each. One “point” equals one percent of the total refinance mortgage amount. With a lower rate, the borrower ends up with a more affordable monthly payment.

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