A Step-by-Step Guide to the Mortgage Application Process Securing a mortgage involves multiple stages, from the initial application to closing on your new home. Here’s what to expect throughout the process: 1. Preparation & Pre-Qualification 2. Choosing a Lender & Getting Pre-Approved 3. Finding a Home & Making an Offer 4. Submitting a Mortgage Application […]
Mortgage Loans
Maximizing Tax Benefits of a California Mortgage Loan
Maximizing Tax Benefits of a California Mortgage Loan Owning a home comes with a range of financial benefits, and one of the most significant advantages is the potential to improve your tax situation. A mortgage can offer multiple tax deductions that help lower your taxable income, ultimately reducing your overall tax burden. Understanding these benefits […]
California Proposition 33 November 2024
California Proposition 33 November 2024 Proposition 33, on California’s November 2024 ballot, aims to expand the authority of local governments to impose rent control on residential properties. If passed, it would repeal the Costa-Hawkins Rental Housing Act, which currently limits rent control on certain types of housing, including single-family homes, condos, and buildings constructed after […]
Steps to Buying Your First Home
How to Prepare as a First-Time Homebuyer Buying a home for the first time is a significant milestone and requires careful planning and preparation. Treasury Funds Home Loans, Inc. is here to help homebuyers every step of the way. Here are key steps a first-time homebuyer should take to ensure a smooth and successful home […]
Financing Investment Property
Financing an investment property typically involves obtaining a mortgage loan or using alternative financing options specifically tailored for real estate investors. Here are some common methods for financing investment properties: Conventional Mortgage Conventional mortgages are widely available from banks, credit unions, and mortgage lenders.Investors typically need to make a higher down payment, often ranging from […]
How a Mortgage Can Improve Your Tax Situation
Maximizing Tax Benefits: How a Mortgage Can Improve Your Tax Situation A mortgage can have several implications for your tax situation, and it typically involves deductions that can lower your taxable income. Here’s how: Mortgage Interest Deduction One of the most significant tax benefits of having a mortgage is the ability to deduct the interest […]
Understanding Common Loan Terms
1. Principal The principal is the initial amount of money borrowed from a lender. It’s the baseline amount upon which interest accrues. For example, if you take out a loan for $10,000, the principal amount is $10,000. 2. Interest Interest is the cost of borrowing money, expressed as a percentage of the principal amount. It’s […]
Navigating Appraisal Exemptions
Navigating Appraisal ExemptionsAssessing Property Qualifications with Treasury Funds Home Loans, Inc. Some mortgage loans may not require an appraisal for several reasons: Loan Type Certain types of mortgage loans, such as FHA (Federal Housing Administration) loans or VA (Veterans Affairs) loans, have specific guidelines that may waive the requirement for a traditional appraisal under certain […]
The California Conventional & Jumbo Loans
The California Conventional & Jumbo Loans and Their Differences In California, as in many other regions in the United States, there are two main categories of loan limits: Conventional Loan Limits and High-Balance loan limits. These limits are set by government-sponsored enterprises (GSEs) such as Fannie Mae and Freddie Mac, and they determine the maximum […]
Mortgage Insurance PMI & MIP Explained
Mortgage Insurance PMI & MIP Explained Mortgage insurance is a financial product designed to protect lenders in case borrowers default on their mortgage payments. It is typically required when the borrower’s down payment is less than 20% of the home’s purchase price. There are two primary types of mortgage insurance: Private Mortgage Insurance (PMI) for […]