Jason Charles Perrot

Often times people will ask during a mortgage application what their interest rate is and how much down payment they need, money to come in with and things like that. I want to make sure that you understand EVERYTHING that could affect your loan payment. What does your mortgage payment consist of? Most likely, your mortgage payment will be impounded. What that means is that your payment will consist of your loan payment (Principal and interest or P and I), property taxes, ho

I have been getting this question A LOT lately! Everyone's circumstances are different, so I am just going to try to lay out the basic facts of what is happening in our market right now. I don't feel we need to go into detail of the mean old landlord or fighting over parking spots in the apartment complex, I'm sure you already know all about that. 1. The market is up right now. In southern California the market has bounced back since the "crash" of 2008. Typically what I have

My clients will not get approved for a loan for 3 main reasons: 1. credit score 2. Debt to Income ratio 3. Not enough money in the bank Let's talk about how we can get around or prepare for these three obstacles in ADVANCE so that these items don't slow you down or keep you from getting a home loan. 1. Credit: Some programs will let you get a mortgage all the way down to a 580 credit score, however, some specialized programs require a higher credit score- (such as down paymen

I'm self employed, can I get a home loan? You can absolutely use self employment income to qualify, BUT there are a few important things to know BEFORE starting the mortgage process or home shopping when you are self- employed. What determines being self employed? If you are either paid with 1099's instead of w2's, file a schedule C for your business or 1120 tax return forms for a corporation or 1065's for a partner ship: then a lender will probably consider you to be self- e

When getting a quote for a home loan, most people are familiar with the term closing costs. Rarely do lenders explain the impound account or "pre-paids" and how it will require you to bring in on average an additional couple of thousand dollars, depending on the property tax rate and your home insurance. What the heck is an impound account? An impound account is an account that sets aside money to pay your property taxes and insurance. Property taxes are due every six months