Breaking Up? Here’s What You Need to Know About Your Mortgage Divorce is never easy, and when real estate is involved, things can get even more complicated. One of the biggest questions that comes up is: Can you assume your current mortgage instead of refinancing? The answer depends on the type of loan you have.… The post Navigating Divorce & Mortgage Loans: Why FHA Assumable Loans Matter appeared first on Sonoma County Mortgages ..read more

The U.S. housing market has been grappling with a significant inventory shortage, with an estimated deficit of 3.7 million homes. This scarcity has intensified competition among buyers, leading to bidding wars and elevated home prices. In this context, a reduction in mortgage interest rates can have profound effects on the market dynamics, particularly concerning home… The post The Impact of Lower Interest Rates on Housing Inventory Challenges appeared first on Sonoma County Mortgages ..read more

When qualifying for a home loan, one challenge many borrowers face is presenting irregular or fluctuating income in a way that accurately reflects their long-term earning potential. Both Fannie Mae and Freddie Mac provide guidelines that allow mortgage lenders to use an averaged income approach to assess a borrower’s ability to repay a mortgage. This… The post Understanding Income Averaging in Fannie Mae Loans appeared first on Sonoma County Mortgages ..read more

If you’re a military veteran looking to purchase or refinance a home using a VA loan, there are several lesser-known benefits and rules that can make the process easier. Many mortgage lenders are unaware of these details, so it’s essential to educate yourself to maximize the advantages of your VA loan. Here are some key… The post Pro Tips for VA Loans: What Most Lenders Don’t Know appeared first on Sonoma County Mortgages ..read more

’ve done everything right. You sent your documents to the lender, got preapproved, and now you’re actively house hunting. Maybe it’s been a few weeks since you got your initial FHA preapproval. You’ve seen some homes, made a few offers, but nothing has gone into contract yet. Then, you hear the question: Should I switch… The post Should I Switch from FHA to Conventional? What You Need to Know appeared first on Sonoma County Mortgages ..read more

How Alimony Can Boost Your Home Buying Power If you pay alimony and thought it would hurt your ability to buy a home, I’ve got good news for you. Fannie Mae and Freddie Mac have updated their conventional loan guidelines, and they now treat alimony as a reduction to income rather than a debt. This… The post How Alimony Can Boost Your Mortgage Buying Power appeared first on Sonoma County Mortgages ..read more

Divorce is already stressful, and when a mortgage is involved, things can get even trickier. If you and your spouse purchased a home together and now need to figure out what happens next, there are a few key things you should know—especially if you have a conventional loan. Let’s break it down step by step.… The post How to Navigate a Mortgage Buyout in a Divorce appeared first on Sonoma County Mortgages ..read more

How to Buy a Home in 2025 Without a Down Payment Purchasing a home can feel overwhelming, especially when you think about saving for a down payment. However, in 2025, there are multiple programs available that can help you buy a house with little to no upfront costs. Whether you’re a first-time homebuyer or someone… The post How to Buy a Home in 2025 Without a Down Payment appeared first on Sonoma County Mortgages ..read more

Co-signing a loan for someone might feel like the right thing to do, but it can have unintended consequences if you’re planning to get a mortgage or refinance your home. Whether it’s for a friend’s new car or a family member’s fancy motorcycle, co-signing puts their debt on your financial record, and that can cause… The post Why Co-Signing a Loan Could Hurt Your Mortgage Plans appeared first on Sonoma County Mortgages ..read more

For many families, finding an affordable home in their current city or town feels like an uphill battle. As housing prices continue to climb, the dream of homeownership can seem out of reach. But what if expanding your search radius could bring that dream closer? By considering homes in areas outside your immediate location, you… The post Could Commuting Be the Key to Affordable Homeownership? appeared first on Sonoma County Mortgages ..read more