For a lot of parents or grandparents, watching a family member struggle to buy their first home right now is hard. That's because you saw firsthand how homeownership gave your life more stability and ...
Published October 7, 2019
New Loan Products Mean New Homeownership Opportunities
Homeownership still remains a dream for many. Even with near-historic low interest rates, home prices in Southern California as well as down payment and income requirements make it impossible for many individuals and families to enjoy a home of their own.
The current federal conventional loan limitations turn many properties into jumbo loans. That can mean a ten percent or more down payment requirement, depending on the bank backing the jumbo loan.
Soaring home prices also make it challenging for active military and veterans. A down payment amount kicks in once the home price reaches a cap amount. And, they may not often have enough to cover that amount.
And, if you are a small business owner, then you know handling income verification can already be challenging. But, now imagine what a legal cannabis business owner goes through. Their income may be legal in California but not by federal loan standards.
What if there was a jumbo loan with a smaller down payment, no cap on VA loans, and loans that make it possible for legal cannabis business owners to declare their income?
Brian Sciutto is a trusted mortgage professional with Fairway Independent Mortgage Corp. Check out all the opportunities he says are waiting for you to own a home in the video below:
