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Buying a rental property is easier than you think. If you’re wanting to buy an investment property, you should consider the DSCR loan, and here’s why. There is NO employment or personal income needed to qualify. DSCR stands for Debt Service Coverage Ratio, and here’s how it works. If the mortgage payment is covered by the rental income, then the deal qualifies. In other words, if the property has a $3500 monthly mortgage and you’re collecting $3500 in rent, you’ve got a deal. Again, no need to show employment or personal income. This loan is NOT based on your personal debt to income ratio…that’s the beauty and it’s also what makes this loan so incredibly simple. DM the word ‘RENTAL’ to learn more. #DSCR #investor #realestate #california #realestateinvestor #invesmentproperty #rental #rentalproperty #howtobuyarentalproperty #buyinginvestmentproperty #vacationrental #longtermrental #shorttermrental #money #investment #portfolio

If you’re hoping to buy a home soon, you’re watching the interest rates. With lower interest rates, your buying power goes up. So what is up with these mortgage interest rates? Why are they so high still? Interest rates are tied to inflation. As inflation rises, so do rates. The FED has done their best to fight inflation, but unfortunately their efforts have stalled out over the last few months. To be honest, it’s unlikely we’ll see any significant improvement over the course of this year. So what else could help with rates? Unemployment. If we see unemployment numbers tick higher, the FED may be forced to cut rates. We’re in a tough spot, because no one wants to cheer for people losing their jobs. #interestrates #firsttimehomebuyer #mortgagerates #mortgage #homeloans #unemployment #FED #federalreserve #buyingahome #realestate

Don’t get to the end of your life and have the same regrets that many seniors say they have. Karl Pillemer, a gerontologist at Cornell, interviewed 1700 seniors for two books he wrote, called ’30 Lessons for Living’ and ’30 Lessons for Loving’. When Karl asked interviewees what their greatest regrets were, not traveling early or often enough was the most popular answer. Similarly, the British Heart Foundation, in their research, also found that ‘not traveling enough’ was one of people’s biggest regrets. The takeaway: Travel is one of the things most people dream about, but don’t do enough of. If you’re a senior, and not having enough money to take those dream vacations has been your excuse, you might want to listen in. Homeowners who are 62 or older that have enough equity, can tap into a portion of that money without creating a mortgage payment. That money can be used for anything, like taking that trip, buying that RV, inviting the entire family to Hawaii. It’s called a reverse mortgage. It’s an ingenious way to tap into a portion of your home’s equity without having a mortgage payment. Maybe trading some of your home’s equity for life-long memories and experiences is worth it? I think there are a whole host of seniors who would tell you, YES…do it!!! Call us for details…let’s get your planning and packing. #reversemortgage #reversemortgagegroup #homeloan #homeequity #seniorhomeloans #retirementplanning #retirementmortgage #reversemortgagecompanies #bestreversemortgage #homeequityloan #travel #traveling #retirement #bestlife #familyvacation #rv #lifeisgood #life #lifestyle #mortgage #interestrates #fha #loanlimits #homeowner #homemodification #retirementplans #travelplans #seetheworld #america #travelamerica #noregrets #travelmore #familytrip #biggestregret

Home remodel and renovation projects are expensive. How do you pay for a new roof? Or an AC unit, or pool, or kitchen remodel? Typically, people will pull some of the equity from their home to finance some of these big-ticket items. A HELOC, or home equity line of credit is a popular choice for many, but it comes with qualification hurdles and a monthly loan payment. If you're 62 or older and have substantial equity in your home, then looking at a reverse mortgage for these types of projects could be great option. In this video we explain how a reverse mortgage works, and how you're able to pull cash from your home without creating a mortgage payment. We can help you unlock a portion of that equity that's trapped in your home for you to use however you'd like, without the burden of a monthly mortgage payment. #reversemortgage #reversemortgagegroup #bestreversemortgage #seniorhomeloans #home #homeloans #heloc #equity #homeequity #homeequityloan #homeowner #renovation #homerenovation #remodel #homeremodel #fha #reversemortgagecompanies #homeloansforseniors #retirement #pool #pooldesign #newroof #howmuchdoesanewroofcost #howmuchdoesapoolcost #puttinginapool #poolconstruction #twoloanguys #homeequitylineofcredit #cash

Many more financial planners are seeing the benefits of incorporating a “buffer asset” into a retirement strategy. This buffer asset is simply another bucket of money to draw from throughout retirement. Taking draws periodically and strategically from this secondary asset can help add longevity and security to a senior’s retirement plan. In this episode, we talk about using a reverse mortgage to create this buffer asset. A reverse mortgage allows you to access and leverage a portion of your home’s equity without creating a mortgage payment. Financial planners have discovered that by drawing from your home’s equity instead of your retirement assets during a down year in the economy, gives the portfolio time to rebound and recover – greatly preserving the value and increasing the longevity of the portfolio. #reversemortgagegroup #reversemortgage #debt #debtpayments #mortgage #homeloans #fha #hecm #senior #homeowner #equity #retired #retirementportfolio #financialplan #financialplanner #moneythroughretirement #retirement #retirementstrategies #retiredhomes #seniorhomeloans #retirementmortgage #bestreversemortgage www.reversemortgagegroup.org Powered by NEXA Mortgage. Call us with any questions. 805-738-8326

Are you thinking about buying a home? Do you know if you would qualify for a home loan and how much home you can afford? These are important questions, and the correct place to start in the process. Many potential homebuyers start by looking at homes online and might even contact a Realtor at the start of their journey towards owning a home. WAIT!! Don’t start looking until you know what you can afford, and most importantly, are pre-approved by a lender. This first step gives a Realtor the price range for your home search, and let’s them know that your loan would be approved by a bank. I can answer these first two questions in less than two minutes, using our affordability calculator. If we determine that your max purchase price is reasonable for the home prices in your area, then we can take the next step of getting you pre-approved. The pre-approval process is easy and can be done in one day. Call me to get started! #mortgage #realestate #homesforsale #lowinventory #firsttimehomebuyer #millenialhomebuyer #millenialhomeowner #interestrates #mortgagerates #lowrates #home #homebuyer #preapproval #prequalification #homeowner #fha #conventional #downpayment #affordability #mortgagetips #debt #income #money #mortgagelife #howtobuyahome #house

I can’t think of anyone more deserving of homeownership than our VETERANS. There are tons of benefits that come with a VA loan, but I’m not sure how many veterans are aware of them. I think the biggest one is there’s no down payment…they can finance 100% of the home. Some other great benefits are they’re a lot more relaxed on credit scores, there’s no monthly mortgage insurance, and there are no loan limits. Another cool thing is they’re less concerned about debt-to-income ratios, it’s more about the borrower having enough residual income after the mortgage payment is made. All of these things make it much easier for a veteran to qualify for a home loan. I love to see veterans taking advantage of these benefits and becoming homeowners…they definitely deserve it! #VA #veteran #VAloan #VAbenefits #firsttimehomebuyer #homebuyingtips #mortgage #mortgagetips #downpayment #howtobuyahome #millenialhomebuyer #millenialhomeowner #loan #loanofficer #interestrates #homeloans #FHA #conventional #fannie #freddie #tipstobuyahome #homeowner #realestate #housing #renting #owning #housingmarket #homeprices #buyvsrent #mortgage101

In this episode, we show you how to upgrade your vacation to make it more enjoyable and memorable. Have you been waiting to take that dream vacation? Maybe a vacation where you take the entire family, grandkids and all? After all, it's about experiencing life and making memories that last a lifetime. We have found some outrageous examples of funny, horrifying, cost-cutting vacation ideas to avoid. Planning a vacation? Are you 62 years or older and own a home? Chances are you're sitting on money that's trapped in your home's equity. We'll show you how you can easily tap into that equity to take that dream vacation, without having a mortgage payment. The question is, can you use the funds from a reverse mortgage to go on an epic dream vacation? The answer: YES Join us for some laughs, some food, and some advice, on Lunch With the Loan Guys. Follow us on: Instagram: www.instagram.com/reversemortgagegroup Facebook: www.facebook.com/Thereversemortgageexperts Website: www.reversemortgagegroup.org #vacation #dreamvacation #family #familyvacation #familymemories #mortgage #reversemortgage #vacationfail #reversemortgagegroup #lunchwiththeloanguys #retirement #realestate #homeequity #mortgageadvice #travel #paradise #beach #traveling #vacationphotos #traveltheworld #sandandsun #beachlife

This simple mindset change could help you become a homeowner faster, and on your way to building generational wealth. Here’s a mistake I see some people making. They look at what their ideal house would cost, decide it’s too expensive, and keep on renting for years to come. The reality is, when you get your first property, it’s not going to be your dream home. It’s more about just getting in the game. This first property is a great way to build some equity which you can use to buy a nicer home down the road, or you could turn this first property into a rental. Most people use their first home as a stepping stone to begin building long term wealth. #firsttimehomebuyer #homebuyingtips #mortgage #mortgagetips #downpayment #howtobuyahome #millenialhomebuyer #millenialhomeowner #loan #loanofficer #interestrates #homeloans #FHA #conventional #fannie #freddie #tipstobuyahome #homeowner #realestate #housing #renting #owning #housingmarket #homeprices #renter #buyvsrent #rentvsbuy

What is the most common item that people collect? What are the most valuable items to collect? We're not sure, but we discovered some creepy and downright bizarre collections that people have and can only ask, why? Anywhere from haunted dolls to bowling balls, you won't believe what some of these people collect. We suggest collecting something of value that will appreciate over time. But to each their own. The question is, can you use the funds from a reverse mortgage for collectibles? The answer: YES Join us for some laughs, some food, and some advice, on Lunch with the Loan Guys. Follow us on: Instagram: www.instagram.com/reversemortgagegroup Facebook: www.facebook.com/Thereversemortgageexperts Website: www.reversemortgagegroup.org #collectibles #collection #bowlingballs #haunted #haunteddolls #bras #rooster #clocks #strange #weird #bizarre #reversemortgage #lunchwiththeloanguys #reversemortgagegroup #homeloans #fha #homeequity #DIY #yorbalinda #brea #anaheim #fails #funny #mortgage #collecting #laugh #dolls #pizza #pizzabox #lunch #sphagetti #meatballs #freaky #freakymusic

One of the biggest misconceptions for renters is the amount of down payment needed. Only 11% realize that a home could be purchased with just 5% down (actually only 3% as a first time homebuyer with decent credit), and about 45% believe that a down payment of around 20% is needed. This is according to the latest survey from the National Association of Realtors. Two-thirds of millennial renters say they don’t have enough saved for a down payment, but that's because many felt they needed to save 20%. This is the biggest misconception out there. Truth is, you only need 3% down to purchase a home. If you are renting, you are getting left behind. The average homeowner has a net worth 40 times higher than that of a renter. A recent study said that the median priced home gained $190,000 in appreciation over the past 10 years. Many millennials are already seeing this. For the first time ever, 50% of millennials are now homeowners. Rents will likely continue to rise! Don’t miss your chance to start building wealth through homeownership. Reach out to me and get started today. #firsttimehomebuyer #homebuyingtips #mortgage #mortgagetips #downpayment #howtobuyahome #millenialhomebuyer #millenialhomeowner #loan #loanofficer #interestrates #homeloans #FHA #conventional #fannie #freddie #tipstobuyahome #homeowner #realestate #housing #renting #owning

A legitimate way to become wealthy and have financial freedom is by owning properties. Everyone starts with one, with the goal of buying additional properties through the years. You can buy these as your primary residence with very little down payment, live in them for at least one year, and then turn it into a rental property. At that point you’re ready to buy your next primary residence, again with a small down payment, and repeat the process. Don’t worry if you are only getting small cash flow from the rentals. The main goal is just having the rent cover the monthly mortgage payment. Now the tenant is paying down your debt for you and you’re getting a small income, plus the tax benefits, and your properties will appreciate over time. Eventually this will lead to great wealth and financial freedom. #firsttimehomebuyer #homeloans #howtobuyahome #fha #VA #conventional #creditscore #millenialhomebuyer #millenialhomeowner #mortgage #mortgagerates #interestrates #downpaymentassistance #mortgagetips #realestate #howtobuyahome #loanofficer #investmentproperty #rentalproperty #rentvsbuy #financialfreedom #buildwealth

Should you buy a home or rent? This is a big question and it’s on a lot of people's minds these days. With all the uncertainties about the economy and interest rates, many are stuck on the sideline trying to decide if it makes sense to buy a home. Answering these 3 questions will help determine whether or not you should even consider buying. Number 1. Are you planning on being in the same area for the next few years? Buying a home makes more sense as a long-term investment. Remember also, that your first home doesn’t have to be your forever home. It can be a stepping stone towards your future goals. Number 2. Do you have a stable income? You will need to show at least a two year work history and have a current job that provides a steady income. This will determine how much of a home you can afford. Keep in mind, you can also be self-employed, but again, need a two year history with the business. There are several ways to document income for self-employed people, like tax returns or even bank statements. Number 3. Do you have savings? You should have enough money set aside to cover a small down payment (as low as 3%) and for closing costs. Family gifts can be used for this as well. If you answered YES to all 3 of these questions, then you should call me. We can determine how much home you can afford and plan a path towards home ownership for you. It all starts with a conversation. #firsttimehomebuyer #homebuyingtips #mortgage #mortgagetips #downpayment #howtobuyahome #millenialhomebuyer #millenialhomeowner #loan #loanofficer #interestrates #homeloans #FHA #conventional #fannie #freddie #tipstobuyahome #homeowner #realestate #housing #renting #owning #housingmarket #homeprices #renter #buyvsrent #rentvsbuy

This is a little known HACK to buy rental properties. Most banks will never tell you about this loan because most of them don’t even have this product, But SMART INVESTORS use it all the time. It’s called a DSCR Loan, and it stands for Debt Service Coverage Ratio. The BEST thing about this loan is there is NO EMPLOYMENT and NO INCOME Verification needed for it. Which means NO TAX RETURNS NO PAYSTUBS NO W2’S It’s super simple, here’s how it works. If the rental income covers the monthly mortgage payment Then the deal qualifies. It’s that SIMPLE!

Your car payment is drastically affecting how much home you can afford. Eliminating a $700/month car payment could boost your buying power by about $100,000. That’s the difference between a home with a pool and one without. Or a home in a safer neighborhood with better schools vs a less desirable neighborhood. Or a home that’s been fully remodeled vs one still stuck in 1970. Work with a loan officer to strategize your financial scenario and find the best path forward.

In some cases, putting LESS money down on a home allows you to QUALIFY FOR MORE. Yes, it sounds counterintuitive, but let me explain. Understanding the Debt to Income Ratio is key! When you apply for a mortgage, the lender will add your total household monthly INCOME and your total household monthly DEBT payments. Typically, a lender will not qualify a borrower who’s monthly debt total is more than 45% of their monthly income. Let’s say your total monthly income is $7000. The lender will make sure your combined monthly debt payments are 45% or less of that amount, which in this case would be $3150. To determine your max monthly mortgage payment, the lender will subtract any non-housing expenses, such as student loan payments, credit card balances, car loan payments. In this case, if you had a $650 car payment, your max mortgage payment allowance would be $2500 ($3150-$650=$2500). If you’ve got a substantial down payment saved, it might be worth considering paying off the car loan balance and eliminate the $650 monthly payment, which increases your max mortgage payment to $3150. With today’s rates, this could increase your overall buying power by roughly $100,000. **These are estimates. Work with a trusted Loan Officer to determine your best strategy based on your personal scenario.

Why the rich love real estate. * Cash Flow * Tax Breaks * Leverage * Build Wealth * Appreciation

Huge opportunity right now in today’s housing market…don’t miss it! Interest rates have spiked because of the high inflation numbers. These rates will come back down once inflation cools off. Here’s the OPPORTUNITY. This spike caused stocks to tank and homebuyers got scared. That means right now you can buy a property for tens of thousands of $$$ cheaper than you would have paid just a few months ago.

Tour a 1.1 Million dollar home in Corona, CA. DW Home Loans CA/WA/ID NMLS: 2075624

It's important to be pre-approved. You never know when you'll stumble on the perfect house! DW Home Loans CA/WA/ID NMLS: 2075624

Here's what $679,900. gets you in lovely Corona, California. It's important to be pre-approved. You never know when you'll stumble across the perfect house! DW Home Loans CA/WA/ID NMLS: 2075624

Three biggest home buying myths: Myth #1. You need the perfect credit score. -->There are programs available for buyers with average--even less than average credit scores. Myth #2. You need to put 20% down. --> Today, most first time buyers put between 3-5% down. Myth #3. You need to buy the perfect home in the best neighborhood. --> A better investment can actually be a smaller home in a more affordable neighborhood. DW Home Loans CA/WA/ID NMLS: 2075624

There are some that worry this current recession is going to bring home values crashing down. Here are some things to consider: * 2008 was the only recession tied to housing. Historically, home values remain stable during recessions. * Household formations, or those that are now in the market to buy a home, far outnumber the available housing inventory. This tight supply will help support home prices. * Real estate is still a solid long-term investment, so if you’re buying a home to live in for a while, don’t worry about trying to time the market. We all know that renting is no picnic!! So it’s more important to find something you can afford and begin building your own wealth. DW Home Loans CA/WA/ID NMLS: 2075624