Buying a house can be an overwhelming process. After all, it's perhaps the biggest investment of your life and you want to make sure that you will find a home you will love and at a price you can afford. Here's what to look for when buying a house.
Along with the priceless sentimental value of owning a home, there are substantial financial benefits.
If you’ve ever heard the term “first mortgage,” and been confused about what it means – and what a “second mortgage” would be, you’ve come to the right place.
If you’re a first-time home buyer and looking to get a mortgage and explore your options for a home in your market, there are a few things you may want to know before getting started.
At CSMC Mortgage, we’re dedicated to protecting our customers, and ensuring that they do not become victims of identity theft due to common mortgage scams.
Applying for a loan is notoriously full of massive amounts of paperwork. And it’s not just any paperwork, either. You’re providing the lender with your most sensitive personal information, including your social security number, bank account information, and tax documents.
Summer is in full swing now, and it’s getting hot outside. There are some ways you can upgrade your house so it not only stays cool, but is more energy efficient.
In many parts of the country, chances are you’ve recently gained some equity in your home. In some parts of the country, you might have gained a whole lot of equity (hello, west coast). But unfortunately, that equity is usually unavailable to you until you sell the home and cash in on it.
Buying a house is expensive these days, and many people need a little help to come up with an adequate down payment. If you do, you may have heard something about an important document called a mortgage gift letter. Here’s everything you need to know if you’re being given funds to go toward your new home’s down payment.
APR, or annual percentage rate, is a term you are certain to come across when you’re in the process of getting a mortgage. It’s really important to know what it means and how it affects your mortgage because it can greatly impact which loan you choose and how much you end up spending throughout the life of your new loan.
If you’re a senior who is 62 years or older, have you heard about how a reverse mortgage might be able to help you during retirement? A reverse mortgage can convert your home’s current equity into cash.
If you’re thinking about buying a home in the next few years, there are a few things you should know about how different types of debt can affect your credit score. Some savvy financial planning can put you lightyears ahead when you’re applying for a mortgage down the road.
Spring has sprung, so you might be ready to do some inexpensive home upgrades. If so, here are 11 things that will make your home look a whole lot better and add value.
Closing costs can be an expensive part of buying a home. In addition to saving for your down payment, you need to save for closing costs, too. They can vary depending on where you live, but they’re generally between 2 and 5% of the total loan. On a $250,000 loan, that could be between $5,000 and $12,500, so it’s something you definitely need to plan for in addition to your down payment.
Have you known someone who has bought a multi-family unit and then lived in part of it while renting out the rest? It’s pretty cool to have someone else paying part of your mortgage.
Thinking about buying a home? Congratulations! Buying a home is an exciting time in a person’s life, but if you aren’t prepared, setbacks may dampen your mood. Spending time preparing now can save you time and headaches after you’ve turned your application into the bank.
If you’ve got extra cash, you might consider investing that money in a rental property. Rentals can help diversify your investment portfolio and build financial stability. If you haven’t purchased a rental before, there are a few things you need to know about the down payment.
You may have seen headlines about the housing market slowing down, but what does that mean for you? Knowing what’s happening will ensure that you don’t miss the opportunity of your dreams.
Buying a new home is one of the most exciting events in your life, but the enormity of it all can be daunting. You’ve got to set your price range. Then you need to research your new neighborhood. And before you move, all your belongings will have to be packed into boxes.
The new year is a time of both reflections and resolutions. It’s a chance to evaluate your life and think about what you hope to accomplish in 2019. If you haven’t settled on a resolution, or you want to take on another one, there are a few smart financial moves you should think about.
Paying off your mortgage early is a hot topic in the financial world, but is it always a good idea? The truth is that even though on the surface it sounds like a smart financial decision, there are plenty of instances when it’s not a good choice to pay off your mortgage early (and there are some circumstances where it is a good choice).
How much of a down payment do you really need to buy a home? Saving up a down payment is one of the biggest obstacles for most people when buying a home. You may have heard the old rule that you need to save 20% down to buy a home.
If you’re having a difficult time qualifying for a loan, a cosigner may be just the ticket that will get you into a home of your own. Adding a cosigner doesn’t make a mortgage possible in every situation, but it can often help.
I’m going to let you in on a secret—really, most people don’t know about it. Did you know that FHA loans (these loans are backed by the federal government) are assumable?
If you’re getting ready to sell your home, you might be hearing some common myths from family and friends (or even strangers). I’m here to bust some of these common myths with accurate information about what you can expect when you sell your home.
The fair boasted something for everyone throughout all twelve days. We hope our winners enjoyed the fair food, carnival rides, grandstand entertainment, motorsports, animal exhibits and shows.
We are honored to be recognized by local residents as one of the best mortgage companies in Ventura County in 2018.
It’s still sweltering for most of us, but cooler temps will be here before you know it. So much can go wrong with a house during the winter, but just a little babying will go a long way to make sure your home stays in tip-top shape all the way through spring (and beyond, with any luck). These are all quick, easy things any homeowner can do right now to prevent a disaster.
All too often, homeowners 62 and older are faced with the difficult reality that most of their cash reserves are held up in the equity of their home. Selling the property at market value, especially if the home is in good condition and has increased in value since it was purchased, is one way to free up the equity in the home, but it is not the only way.
Are you considering a Reverse Mortgage Loan to gain extra cash every month? Reverse Mortgage Loans are popular options for homeowners 62 and older looking for opportunities to supplement their retirement income.
You’re ready to get a mortgage and suddenly you start hearing and seeing all of these terms you’ve never heard before—APR, DTI, due diligence. What do they all mean, and most important, what do they all mean for your mortgage?
Most people buy a home with someone else, though there are more single homebuyers than ever before, especially women. Often, it’s a married couple buying a home, but there are also many unmarried couples and partners who aren’t romantically involved who are taking the homebuying plunge together.
One of the biggest unknowns for many homeowners and potential homeowners is the real cost of maintaining a home. There are all kinds of expenses when you own a home, and it’s wise to plan for them in advance so that you’re not scrambling for money when something comes up.
One of the most important things you should do as you go through the process of buying a home is hire a home inspector to make sure it’s in great shape. Even though this is technically an optional expense, it’s not something you should ever go without.
Sometimes people are confused about the differences between FHA and conventional loans. In some cases, an FHA loan can help you buy a home sooner than you’d be able to buy with a conventional loan. Paperwork and processing times for both loan types are roughly the same, so it just comes down to what you qualify for and what makes the most financial sense for you.
There are few things in life as murky as tax law. There’s a lot of misinformation floating around about how you’re taxed on the profit (capital gains in IRS-speak) you make when you sell your home.
“With this being my first home purchase, my loan officer was very good at explaining everything to me and helping me with all my needs. Thank you for having such great people in the right place!”
- Cathleen H.
“Faye helped me purchase my first home last year. She was very professional and worked very quickly to help me procure financing. She made herself available around my schedule and took the time to explain my options for financing to help me get the lowest rate possible. Would highly recommend her to anyone looking for someone that is professional, highly knowledgeable, polite, and responsive.”
- James Z.
“This review is about Mark and Darci Richardson from CSMC Mortage in Simi Valley. This team is the BEST! For the past 12 years our home was "underwater" due to the "crash" in 2007, and unable to do anything with the mortgage except pay it. These two kept on top of things and finally the house qualified to REFI. We just completed everything and it closed last week... and they saved us over $900 a month!! That's a huge savings for a couple of senior citizens! We are SO happy now and finally can breathe. Thanks to Mark and Darci and CSMC Mortgage for following through, jumping through all the hoops necessary and helping us out! I can't recommend them more... they are the BEST!!!”
- Shari S.
“David Honda and his team rocked!! They had great technology that took so much of the pain of home buying away. They were attentive to our specific needs and were on top of our loan process! David was always available, even when he was in Hawaii, and super responsive! Thanks David, Melissa and the team for an easy and great home buying experience.”
- Raymond F.
“These folks are conscience and easy to work with. The “calm” as the “storm” of home loans rolls through! I would not use anyone else. They make sure ALL your questions are answered, be that what competitors may have offered, or ads you may have heard or seen. What a pleasure to do business with. Thank you team CSMC.”
- Michael G.
“CSMC Mortgage took great care of us and our home buying needs. Tony was more than we could have ever asked for, he went above and beyond for us and we couldn’t have been more grateful for all his hard work. CSMC Mortgage has a great and friendly staff, I would highly recommend them to anyone looking into buying a home.”
- Jannet A.
“I had the best experience with CSMC Mortgage. Buying a home is very stressful with all of the paperwork that has to be filled out. Faye was amazing! I have given several people her contact info, who are scared to take the step to homeownership. She took ALL of the stress away for me. I honestly, didn’t have to do much. She accommodated my crazy work schedule and help me get things done in a timely manner. She made me feel so comfortable and at ease. There were no surprises when it was time to sign and pay. I highly recommend her to anyone in need of her services and guidance. I can’t thank her enough.”
- Lisa M.
“Baret Grigorian was amazing!! From start to finish Baret was there to help in every way. I never felt like I had to call him to follow up on my loan transaction and he always kept me informed. He was able to get me great financing rates, a lower payment AND money back! Thank you Baret!! I look forward to working with you again in the future!!”
- Kenny D.