VA Home Loans

Guaranteed by the U.S. Department of Veterans Affairs.

Reverse Mortgages

For homeowners to leverage the equity in their home.

Refinancing

Replace your current home loan with a new one.

Prime Jumbo and Super Jumbo Mortgages

For high-income earners who make $250,000+ a year.

Fixed-Rate Mortgages

Offers predictability for your budget.

FHA Home Loans

Popular for first-time homebuyers.

Conventional Mortgages/Conventional High Balance

A loan not guaranteed or insured by the federal government.

Self Employed Loan Programs

For 1099 recipients, P&L users or qualify using assets.

Bank Statement Programs

See how you can qualify without having to show tax returns.

Investor DSCR or Rental Income Loans

Perfect for investors who want tenant rent to cover mortgage.

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How Much Home Can I Qualify For?


California mortgage

Home buying calculators

Mortgage calculators can give you a starting point when launching your home search. However, not all mortgage calculators are created equal.

You want to find one that factors in your total home payment — not just the principal and interest. It should include taxes, homeowners insurance, and HOA dues. That’s how the lender will look at your payment, and so should you.

Loan calculators aren’t perfect, though. That’s because you don’t always know exact numbers the lender will come up with for income and debts. For instance, if you’re self-employed, the lender will only consider your income after write-offs. Side gigs, bonus income, overtime — they may not be counted toward qualifying income, depending on history.

That’s why, if you’re serious about home buying in California, it’s best to talk to a lender and see how they calculate your debts and income. With a pre-approval from a lender, you can be confident as you start looking for homes.

What is DTI?

DTI is an acronym you may hear a lot as you get qualified for your home. It means “debt-to-income ratio” and it’s a comparison between your qualifying income and monthly debt payments.

Example:

  1. Income

  2. $7,000 per month salary, pre-tax

  3. Debt payments

  4. $1,000 per month payments for student loans, car loans, and credit card minimum payments

  5. $2,000 future home payment including principal, interest, homeowners insurance, and taxes

You would have a DTI of 43% ($3,000 / $7,000).

Typically, the maximum DTI to qualify is around 45% if you have good credit.

Talking to a lender is best if you plan to shop for homes soon

It would be really disappointing to calculate your maximum mortgage only to discover that you can’t actually qualify for that amount. There are many variables that can be hard to determine, like credit score, variable income, or debt payments. If you plan to look at homes in California soon, give us a call at (833) 782-8369, or send us an email. We’d love to work with you!

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About

VA Home Loans
Reverse Mortgages
Refinancing
Prime Jumbo and Super Jumbo Mortgages
Fixed-Rate Mortgages
FHA Home Loans
Conventional Mortgages/Conventional High Balance
Self Employed Loan Programs
Bank Statement Programs
Investor DSCR or Rental Income Loans

Loan Options

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