Manny’s Monday Minute
Stop Cutting Price: Why a Seller Paid Buydown Sells the Payment
Homes in Southern California aren’t sitting because buyers stopped wanting them. They’re sitting because the monthly payment doesn’t work. When a listing goes quiet, most sellers reach for a price cut. In this week’s Monday Minute, Manny Solana shows why a seller paid buydown does far more with the same money. What a $25,000 price…
Read MoreVA Loans: The Powerful Advantage Most Veterans Never Hear About
A VA loan is one of the most valuable benefits a veteran or active service member can use, and most people only know half of what it can do. Here’s a clear look at the advantages, including one that could make your home far easier to sell years from now. You can finance up to…
Read MoreDenied for a HELOC? A Home Equity Investment Might Be the Answer.
If you’ve been turned down for a HELOC or home equity loan because of your income or your credit, you are not out of options. A home equity investment lets qualifying homeowners access cash from their home’s value with no monthly payment and no income requirement, and it considers credit scores far lower than traditional…
Read MoreGetting Cash Out of Your Home Without Refinancing Your 2% Rate
You locked in a mortgage at 2 or 3 percent. The thought of refinancing it to pull equity makes you want to throw up. Good instinct. Don’t do it. You don’t have to. There are actual ways to get cash out that leave your first mortgage sitting pretty and untouched. The bank If your credit’s…
Read MoreOpt Out of Prescreening Offers & Robocalls: Two Free Tools That Work
September 11th is a day that reminds us to give back. At California Home Solution, we’re focused on helping our community protect their financial health. If you’re like most Americans, you’re getting hit with constant prescreening offers and robocalls. These aren’t just annoying (while they are certainly that), they’re damaging your credit score and creating…
Read MoreReverse Second Mortgage in California: Tap Your Equity, Keep Your Low Rate
A reverse second mortgage lets California homeowners 55 and older borrow against their home equity while keeping their existing first mortgage in place, with no new monthly mortgage payment. California Home Solution is a Woodland Hills mortgage brokerage (NMLS #260091, DRE #01303675) that has helped homeowners match the right loan to their situation since 2000.…
Read MoreHow to Buy an Investment Property Using the Rent, Not Your Income
A DSCR loan lets you buy an investment property that qualifies on the rental income the property will produce, not on your personal income, tax returns, or job. If the rent covers the payment, the deal can work, and you can borrow up to 80 percent of the purchase price with an interest-only option available.…
Read MoreWhat Do You Need to Get Prequalified for a Home Loan? The 3 Cs, Explained
Knowing how to get prequalified for a home loan really comes down to three things: can you repay the loan, do you have the money to get in the door, and your credit. I’m Manny Solana, and I’ve been doing this for California homeowners for more than 25 years. Most people think qualifying is harder…
Read MoreHow Can I Improve My Credit Score Before Applying for a Mortgage?
To improve your credit score before a mortgage, focus on the two factors that matter most: pay every account on time and keep your card balances low. Payment history is about 35% of your FICO score and amounts owed are about 30%, per myFICO. Fix those two and most of the work is done. Here…
Read MoreBank Statement Loan for Self-Employed Borrowers: Your Tax Return Isn’t the Whole Story
Bank statement loans for self-employed borrowers solves a problem you probably know well. The business is doing fine, money is coming in, and then a lender pulls your tax returns and says you don’t earn enough for the house you can clearly afford. That’s this week’s Monday Minute, and it’s one of the most common…
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