Anthony Flecha

Los costos de refinanciamiento generalmente oscilan entre el 2 % y el 6 % del monto del préstamo e incluyen cargos como tasación, seguro de título y costos de cierre. Factores como el tipo de préstamo, la ubicación y el puntaje de crédito pueden  afectar significativamente  estos gastos. Nuestro equipo puede ayudar a proporcionar estrategias  que  pueden ayudar a minimizar los costos.

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Para determinar cuánto puede pagar por su vivienda, le recomendamos que evalúe su situación financiera. Esto incluye sus ingresos, gastos y relación deuda-ingresos, para garantizar que su hipoteca se ajuste cómodamente a su presupuesto. Una pauta general es gastar no más del 28 % de sus ingresos brutos mensuales en costos de vivienda y el 36 % en deuda total.

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Un buen puntaje de crédito generalmente comienza en 620 para préstamos convencionales, mientras que los préstamos de la FHA y VA pueden aceptar puntajes tan bajos como 500, aunque los puntajes más altos ofrecen mejores términos. Un puntaje de crédito sólido puede ayudarle a asegurar tasas de interés más bajas, lo que le permite ahorrar dinero significativo durante la vigencia de un préstamo para vivienda.

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Una línea de crédito sobre el valor acumulado de la vivienda (HELOC) es una línea de crédito renovable que permite a los propietarios pedir prestado contra el valor acumulado de su vivienda. Las HELOC funcionan como una tarjeta de crédito, lo que brinda acceso a fondos hasta un límite establecido, que puede utilizarse para gastos como renovaciones o consolidación de deudas. Solo paga intereses sobre el monto que pide prestado, y los términos de pago generalmente incluyen un período de retiro seguido de un período de pago.

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Para calcular los pagos de su hipoteca, comience con el monto de su préstamo, la tasa de interés y el plazo del préstamo. Su pago dependerá del interés cobrado a lo largo del tiempo y del cronograma de pago. Puede usar una calculadora de pago hipotecario mensual o comunicarse con nosotros para obtener más información.

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Non-QM loans use expanded home financing criteria to give borrowers income and credit flexibility. From qualifying with bank statements or 1099 income to purchasing investment properties, Non-QM loans open doors to homeownership many don’t realize are available.

Also known as Investor Cash Flow loans, DSCR loans are designed to help real estate investors secure financing with their rental property’s cash flow. Instead of relying on personal income, DSCR loans use the debt service coverage ratio (DSCR) to qualify.

DSCR is calculated by dividing the monthly rental income by principle, interest, property taxes, homeowners insurance and association dues.

Since Non-QM loans don’t follow traditional guidelines, they’re considered riskier. That’s why lenders often require a higher down payment, interest rate and other terms.

But Non-QM loans are a safe financing option that benefits many homebuyers. Talk to a CCM loan officer to learn what’s right for you.

Bank Statement loans allow you to qualify for a mortgage using your bank statements instead of tax returns. These loans are designed for borrowers who have strong credit and finances but don’t have traditional income, like self-employed workers.

To qualify, you’ll use the average of your deposits over a 12- or 24-month period. If your work doesn’t provide a W-2, this may be the loan for you.

ITIN loans give you a way to qualify for home financing without a Social Security number. Instead, your Individual Tax Identification Number (ITIN) makes homeownership possible.

At CrossCountry Mortgage, we provide numerous ways to qualify using an ITIN. Bank statements, liquid assets, 1099 income and more can all be used to buy a home with our ITIN loan.

No. Conventional loans follow criteria established by the Consumer Financial Protection Bureau (CFPB). Non-QM loans use different standards that provide flexibility for borrowers who may not meet conventional requirements due to the type of home being purchased, financial circumstances or non-traditional income or employment.

1. Pre-qualify for a home loan

2. Check your credit report

3. Meet with a CCM loan officer

4. Establish your homebuying budget

5. Get pre-approved

6. Work with a real estate agent

7. Find your dream home

8. Submit your mortgage application

9. Make an offer

10. Get a home inspection

11. Close your loan

12. Move into your home!

It depends on the home loan. For example, conventional loans require a minimum credit score of 620. But VA and FHA loans may allow homebuyers to qualify with a credit score as low as 500. It’s important to note that lower credit scores often come with additional requirements or higher interest rates.

It typically takes a few months to buy a home. The exact length of the process will depend on the market, home and other financing factors.

At CrossCountry Mortgage, we’re dedicated to making the mortgage side of homebuying smooth and stress-free – offering full approvals quickly through our FastTrack program.

First, let’s see if you qualify for certain government-back loans. If you are a Veteran or Service Member, VA loans require 0% down. Same goes for rural homebuyers with USDA loans.

Second, talk to a CCM loan officer about local, state and national down payment assistance programs that may cover your down payment costs.

That is more about you than the market! You’ll want to consider if you are ready to take on the homebuying process and then calculate your purchasing power with a CCM loan officer. Once you know your homebuying budget, it’s time to house hunt and explore your desired community for the home of your dreams.

Before you find your dream home, it will help to have:

• Your credit score
• Proof of employment and income
• Cash or assistance for a down payment
• The right loan
• A homebuying budget
• An expert real estate agent
• Your dedicated CCM loan officer

Refinance costs vary, but typically range from 2% to 6% of your loan amount. For example, refinancing a $300,000 mortgage may cost $6,000–$18,000. Costs include appraisal, title and lender fees. A CCM loan officer can help calculate your break-even point and long-term savings.

A cash-out refinance lets you replace your current mortgage with a new one for more than you owe — taking the difference in cash. Use it for renovations, debt consolidation, tuition, or unexpected expenses by tapping into your home’s equity.

Refinancing makes sense when you can lower your interest rate, shorten your loan term, switch to a fixed rate or access equity for cash. If your current mortgage no longer fits your financial goals, it may be time to refinance.

To refinance, meet with a CCM loan officer, review your credit, apply for your new loan and submit required documents. After approval, you’ll schedule a closing and start fresh with your new mortgage terms and payment structure.

You can typically refinance after six months, but timing depends on loan type, lender and your financial situation. A CCM loan officer can help determine if now’s the right time based on your equity, credit and current interest rates.