Friday, July 12, 2013

100 Mortgage Financing A Way To Avoid Private Mortgage Insurance

100 Mortgage Financing A Way To Avoid Private Mortgage Insurance
Ideally, traditional mortgage lenders want new homebuyers to have a 20% down payment when purchasing a new home. Thus, if purchasing a $200,000 home, you should be prepared to have $40,000 as a down payment.

Unfortunately, many people do not have this kind of money lying around. For this matter, private mortgage insurance (PMI) was created as a way for mortgage companies to recoup their money if a homeowner defaults on the loan. There are various loans available to assist people with down payments. In some instances, homeowners can obtain 100% financing, and avoid PMI

What is Private Mortgage Insurance?

Because Americans are earning less money, and home prices are steadily increasing, the majority of the population is unable to save the recommended down payment of 20%. In order to make owning a home possible, mortgage companies created a particular mortgage insurance, (PMI), for people with less than 20% to put down on a home. This insurance protects the lender if you default on the mortgage.

How to Avoid Paying Private Mortgage Insurance

On average, PMI may increase your mortgage payment by $100 – sometimes less, sometimes more. However, there are ways to avoid paying this additional insurance. The obvious involves having at least 20% as a down payment. If this is not an option, homeowner may agree to a higher interest rate. Another tactic entails getting approved for 100% financing.

How Does 100% Mortgage Financing Work?

100% mortgage financing makes it possible to buy a home with no money down. Also referred to as a piggyback loan or 80/20 mortgage loan, 100% mortgage financing involves obtaining a first mortgage for 80% of the home cost, and a second mortgage, or home equity loan, for 20% of the home cost. Together, the first and second mortgage allows a home purchase with no money down, and no private mortgage insurance.

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California Mortgage Associates

Since 1987, California Mortgage Associates, the Central Valley's leading home loan lender, has built a strong reputation as an outstanding mortgage firm serving the lending needs of homebuyers, real estate professionals, and builders throughout California. 

We're a full service mortgage broker with an experienced staff offering expertise in every area of mortgage lending... including purchase, refinance, construction, commercial, home equity, FHA, VA, jumbo, and credit. We have access to a full range of mortgage sources and all of our lending specialists are dedicated to finding the right loan - with the best rates, terms and costs - to meet our clients' unique needs. 

We offer a unique lending experience; we combine the old time values of integrity, ethics and perseverance with 21st century technology and experience.  We have a long standing commitment to our communities.  We support the following charities and organizations: Habitat for Humanity Stanislaus, American Cancer Society, Rotary International, United Cerebral Palsy, Chamber of Commerce, and Lions Club.

Member of the Better Business Bureau.

California Department of Real Estate License #01160500

NMLS #2450

Thursday, July 11, 2013

Family,Health and Law

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Thursday, July 4, 2013

Sell Annuity Payment

{Sell|Promote} My Annuity {Payments|Funds}

{Sell|Promote} My Annuity {Payments|Funds}
What are annuity {payments|funds}?
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The {payment|cost|fee} {for your|on your|in your|to your} annuity {should|ought to} {always|all the time|at all times} be {the same|the identical} {amount|quantity} {during|throughout} {each|every} {period|interval} and it {should|ought to} {occur|happen} at even intervals. {Payments|Funds} {should also|also needs to|must also} be made {exactly|precisely} {at the start|initially|firstly|at the beginning|at first|in the beginning} or {at the|on the} {end|finish} {of each|of every} period. It {should|ought to} {include|embrace|embody} all {inflow|influx} {as well as|in addition to} outflow and {represent|symbolize|characterize|signify} the {payment|cost|fee} {during the|through the|in the course of the|throughout the} compounding period.
{How to|The way to|Tips on how to|Methods to|Easy methods to|The right way to|How you can|Find out how to|How one can|The best way to|Learn how to} {receive|obtain} annuity {payments|funds}
{When you|Whenever you|If you|Once you|While you} {decide|determine|resolve} {to purchase|to buy} annuity, an {important|essential|necessary|vital} {factor|issue} {you need to|you should|you have to|you’ll want to|you might want to|you must|it is advisable to|that you must|you could|it’s essential to|it’s essential|it is advisable|you want to|it’s worthwhile to|it’s good to} {consider|think about|contemplate|take into account} is {the method|the tactic|the strategy} on {how you|the way you} {want to|need to|wish to} be paid. {You have|You’ve|You could have|You’ve got|You might have|You will have|You’ve gotten|You have got|You may have} {the option|the choice} {to select|to pick|to pick out} payouts for a set {period|interval} or {it can be|it may be} continued {throughout|all through} your lifetime. There are {also|additionally} {options|choices} {wherein|whereby} the beneficiary can {choose|select} to {receive|obtain} the annuity {payment|cost|fee} upon your death.
There are {several|a number of} {choices|decisions|selections} {namely|specifically|particularly} the straight life {option|choice|possibility}, the joint or survivor {option|choice|possibility}, and the refund annuity. The straight life annuity {enables you to|lets you|allows you to} derive {income|revenue|earnings} {throughout|all through} your lifetime even after {the money|the cash|the money} you had put into annuity has already been used up. {However|Nevertheless|Nonetheless}, {if you|should you|when you|in the event you|in case you|for those who|if you happen to} die even {before|earlier than} the account has been used up, {nobody|no one|no person} can {collect|gather|acquire|accumulate} the payouts. The straight life annuity {is perfect|is ideal} {for someone|for somebody} who {don’t have any|have no|haven’t any} dependents or for {a person|an individual} who {needs|wants} {to maximize|to maximise} his income.
{Options|Choices} in {selling|promoting} annuity {payments|funds}
{Many people|Many individuals} {want to|need to|wish to} {sell|promote} their annuity {payments|funds} {because|as a result of|as a result of} they {want to|need to|wish to} get their {money|cash} now {instead|as an alternative|as a substitute} of {waiting|ready} for years. So {it is a|it’s a} welcome {development|improvement|growth} that {there are many|there are lots of|there are numerous|there are various|there are a lot of} annuity {buyers|consumers|patrons} who legally {buy|purchase} your annuity {payments|funds} so {you can|you’ll be able to|you possibly can|you may} {take advantage of|benefit from|reap the benefits of|make the most of} lump sum {payments|funds} today. {However|Nevertheless|Nonetheless}, {you should|you must|you need to|it is best to|it’s best to} {choose|select} the annuity {buyer|purchaser} {you will|you’ll} do {business|enterprise} with {carefully|rigorously|fastidiously} {because you|since you} {certainly|definitely|actually} {don’t|do not} {want to|need to|wish to} {get involved|become involved|get entangled} with {a company|an organization} {that is not|that isn’t|that’s not} {really|actually} trustworthy. {In addition|As well as}, some {buyers|consumers|patrons} {offer|supply|provide} {greater|higher|larger|better} {amount|quantity} {compared to|in comparison with} others.
You {should also|also needs to|must also} take {note|notice|observe|word|be aware} {that most|that the majority|that almost all} annuity {buyers|consumers|patrons} {also|additionally} {offer you|give you} {flexible|versatile} deferred {payment|cost|fee} schemes {wherein|whereby} {you can|you’ll be able to|you possibly can|you may} {choose|select} {a comfortable|a cushty|a snug} {size|measurement|dimension} of {payments|funds} {that is|that’s} {perfect|good|excellent} for you. {Most of the time|More often than not}, {people|individuals|folks} {just|simply} {want to|need to|wish to} {become|turn out to be|turn into|develop into|grow to be|change into} {free of|freed from} the restrictions that has been imposed upon them by the settlement. {Another option|An alternative choice|Another choice} is to {sell|promote} {just a|only a} small portion of your annuity {payments|funds} {so that|in order that} {you will have|you’ll have|you should have} the {comfort|consolation} of {knowing|understanding|figuring out|realizing} {you will|you’ll} {still|nonetheless} have annuity {payments|funds} {in the|within the} future.
As {you can|you’ll be able to|you possibly can|you may} see, {the advantages of|some great benefits of|the benefits of} {selling|promoting} annuity {payments|funds} are undeniable. {You will get|You’ll get|You’re going to get} {the money|the cash|the money} you {need|want} in case of an emergency or {if you|should you|when you|in the event you|in case you|for those who|if you happen to} {need|want} {a significant|a big|a major} {amount of cash|amount of money} as capitalization {for your|on your|in your|to your} business. {Meanwhile|In the meantime}, some {people|individuals|folks} {decide|determine|resolve} to {sell|promote} their annuities to fund their {children|youngsters|kids}’s {education|schooling|training} {or even|and even} {to help|to assist} a relative who {needs|wants} money.
{But|However} {whatever the|regardless of the} case {may be|could also be}, {it is a|it’s a} good {thing|factor} that there are annuity {buyers|consumers|patrons} {in the market|out there|available in the market} so {you will be able|it is possible for you to} to {sell|promote} annuity {payments|funds} {when you|whenever you|if you|once you|while you} {want|need} to. And {knowing|understanding|figuring out|realizing} {that you have|that you’ve|that you’ve got} {something|one thing} to fall {back|again} on {during|throughout} {extreme|excessive} circumstances is {enough|sufficient} {comfort|consolation} {for a lot|for lots} of people.