Mortgage FAQ’s

At its most basic a mortgage is a loan used to purchase a house but there is so much more that you need to know before you make such an important financial decision. This is where I answer the most commonly asked questions from my clients. Feel free to browse this knowledge base and please don’t hesitate to ask me anything you don’t already see an answer to.

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Craig Brock - Mortgage Tips - Non-Purchasing Spouses and FHA Loans
For an FHA loan, the non-borrowing and even non-purchasing spouse will have to have their credit score pulled. Their debts will also be included in your debt-to-income (DTI) qualifying ratios in a community property state such as California. However if they have a low credit score it will not adversely affect your loan or even your interest rate. Another great mortgage tip from Craig Brock of Skyline Home Loans.
Craig Brock - Mortgage Tips - What Is A Reverse Mortgage Purchase?
Seniors, did you know you can use a reverse mortgage to purchase a new home? A lot of people are aware that a reverse mortgage can help to pay expenses but are unaware that you can actually use a reverse mortgage to purchase a new home. Watch to find out more. Another great mortgage tip from Craig Brock of Skyline Home Loans.
Craig Brock - Mortgage Tips - What Is A Manufactured Home?
A manufactured home isn't something you tow behind your SUV. Many of these dwellings look like ordinary homes these days and offer all the comforts of an ordinary site built home. Some of the manufactured home guidelines are that the unit must be a double wide (12 feet) with at least 600 square foot interior space and a permanent foundation. The lot can even be up to 10 acres. Watch to learn more about buying or refinancing a manufactured home. Another great mortgage tip from Craig Brock of Skyline Home Loans.
Craig Brock - Mortgage Tips - California Home Grants
Did you know the state of California has given away over $60 million in non-repayable grants to over 10,000 people so they can buy a home? Watch this video for more guidelines and to learn how you can become one of them. Another great mortgage tip from Craig Brock of Skyline Home Loans.
Craig Brock - Mortgage Tips - Basic FHA Guidelines
Craig Brock dives right into the need-to-know basics of FHA loans. Key guidelines: In California the maximum loan amount is $625,500. You will need a 3.5% down payment minimum. The down payment and closing cost can be a gift. You will need two years tax returns, two years W-2’s, paystubs for 30 days and two months of bank statements. Watch Craig Brock of Skyline Home Loans' video for more California FHA requirements.
Craig Brock - Mortgage Tips - Condos and FHA Loans
Did you know that not all condos have to be FHA approved to be eligible for an FHA loan? Watch this video to learn more about FHA financing when it comes to condominiums and hear some of the guidelines. Another great mortgage tip from Craig Brock of Skyline Home Loans.
Craig Brock - Mortgage Tips - How To Save A Broken Deal.
Find out how to proceed if you've been turned down for an FHA loan. These FHA loans are usually run through an automated underwriting system and you must receive an eligible ranking in order to qualify. This rejection could happen for a lot of reasons but most generally, it's poor credit. Certain loans can be manually underwritten. Watch to learn the features and requirements of some of the other programs you could qualify for. Another great mortgage tip from Craig Brock of Skyline Home Loans.
Craig Brock - Mortgage Tips - What Is Private Money Lending?
Learn more about private money lending, also known as a Non QM loan. This money comes from an institution or private investor and is not a bank. Another great mortgage tip from Craig Brock of Skyline Home Loans.
Craig Brock - Mortgage Tips - What Is the Cost of Renting?
How much is renting costing you? Watch this video from California home loan expert Craig Brock to get your answer. If you're tired of paying 30% of your income or more to your landlord it may be time for you to look into buying your own home. Owning a home may be less expensive than you think, especially when you consider the historically low mortgage interest rates and the tax advantages for homeowners.Make sure to ask your mortgage professional for a complete rent vs. own total cost analysis and watch this video for more tips.
Craig Brock - Mortgage Tips - What Is A Manufactured Home?
A manufactured home isn't something you tow behind your SUV. Many of these dwellings look like ordinary homes these days and offer all the comforts of an ordinary site built home. Some of the manufactured home guidelines are that the unit must be a double wide (12 feet) with at least 600 square foot interior space and a permanent foundation. The lot can even be up to 10 acres. Watch to learn more about buying or refinancing a manufactured home. Another great mortgage tip from Craig Brock of Skyline Home Loans.
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8blocks has a business relationship with Skyline Financial Corp. (“Skyline”). 8blocks creates co-branded websites for Skyline and Jane Agent. Skyline and Jane Agent compensate 8blocks for this service. You are not required to use Skyline or Jane Agent’s services as a condition to the purchase or sale of a home or other property. There are other mortgage lenders that may be able to offer you a mortgage loan. You are free to shop around to determine that you are receiving the mortgage rates and terms that fit your needs. Your choice of a mortgage lender or realtor will not affect current or future services and products provided to you by these unaffiliated entities.

Skyline Financial Corp. is not affiliated with Jane Agent or their brokerage. Each is solely responsible for the products and services it offers.

Skyline Financial Corp. dba Skyline Home Loans, Nationwide Mortgage Licensing System (NMLS) Company ID# 12072. Arizona Mortgage Banker License #927740, Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act File No: 4130296, Georgia Residential Mortgage Licensee, Illinois Residential Mortgage Licensee, Licensed by the New Hampshire Banking Department License #19536-MB, Ohio Broker/Banker Registration #MBMB-850231-000, Oregon Mortgage Lender License ML-2797, Washington Consumer Loan Company License CL-12072. Refer to www.nmlsconsumer.org and input NMLS#12072 to see where Skyline Financial Corp. is a licensed lender.