What Is an Escrow Impound Account and How Does It Work for San Diego Home Buyers?
What Is an Escrow Impound Account? A mortgage escrow impound account is a separate account maintained by your mortgage servicer that collects a portion of your property taxes and homeowner's insurance premiums each month as part of your total mortgage payment. The servicer then pays these bills on y
What Is a Mortgage Pre-Qualification vs. Pre-Approval vs. Full Underwriting?
Three Stages of Mortgage Approval The mortgage process involves three distinct levels of lender commitment, each providing more certainty and carrying more credibility with San Diego sellers. Understanding these stages helps you know where you stand and what level of preparation will make your offer
What Is Debt-to-Income Ratio and How Does It Affect My San Diego Home Purchase?
DTI: The Number Lenders Focus On Most While credit score gets a lot of attention, your debt-to-income ratio is arguably the most important single factor in mortgage qualification. Your DTI is the percentage of your gross monthly income that goes toward your total monthly debt obligations — including
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