Credit scores increase gradually over time by borrowing money (e.g. by charging credit cards; by taking out loans such as student loans, home loans or car loans; and by making payments on time). It takes many years to establish good credit and reach a high FICO score (aka your credit score) and one 30-day late […]
Did you know that paying your mortgage every 4 weeks instead of once a month reduces a 30-year loan by almost 5 YEARS? Paying your mortgage every month for 1 year = 12 payments. Paying your mortgage every 28 days for 1 year = 13 payments. The trick to reducing a 30-year loan down to […]
Building wealth takes discipline and sacrifice, but sometimes a little creativity goes a long way. As a mortgage broker, I am frequently asked if I have any tricks up my sleeve to help bring down the cost of a mortgage. Here is one way to buy a condo (or house) for up to a $475,000 purchase price with […]
The Federal Housing Administration offers the infamous FHA loan. FHA loans are primarily known for allowing a low 3.5% down payment on 1-4 unit properties – even as properties up to a $660,000 purchase price (in Los Angeles and Orange County). FHA loan limits vary per county. FHA is also known as a first-home buyer […]
Residential solar is becoming more and more popular with peoples desires for independence from the grid and a greener lifestyle. Local and state governments are still offering incentives to install solar panels. Many new home construction builders include solar panels as an energy saving option. Solar may or may not become a major player in […]
Tax reform is a hot topic in 2017. Donald Trump has identified tax reform as one of his top priorities and it is expected that house republicans will begin to push legislation looking to create visible changes to the tax code. Is the end in sigh for tax deferred 1031 exchanges? Lawmakers are eyeing bills […]
The future is now. Driverless cars are not only coming soon they are already here! Tesla and Mercedes Benz Car offer some self-driving technology in models for sale right now. The state of California has licensed 27 companies to test driverless vehicles on public roads. Undoubtably, self-driving cars will have an major impact on world […]
Supplemental taxes are not an additional tax – good news. Supplemental taxes make up the difference between the property taxes that you should have been charged vs. the property taxes you were actually charged. In real estate, this commonly occurs when a property is first purchased. The tax assessor can take a little time to update the tax […]
Did you know there is an annual federal gift tax exclusion AND a lifetime gift exemption, which was raised to $5.49 million in 2017? Gift taxes are often a confusing topic. Fortunately, it is not that difficult to explain. Here are a few common questions and answers about the gift tax. What is the gift […]
Homeowners love to renovate and add on to their homes. However, occasionally homeowners will add square footage to their house without securing the proper permitting and paperwork. As a home buyer, you need to be aware of how to check for unpermitted square footage, and what it could mean about the property. Here are a few […]
