How To Prepare Your Credit for a Home Purchase or

Cierra Taylor
06 April 2022

Your credit score determines what type of mortgage and interest rate you'll qualify for, so it's important to take these steps BEFORE you start shopping. Pay all your bills on time. These include your mortgage statements, car payments, credit cards, etc. Keep your credit cards lines open. As you build your credit, more opportunities will become available with new cards and benefits. If you open a new credit card with better benefits, keep your old line open. Even if you aren't using the card, having a long credit history helps keep your credit scores strong.Get copies of your credit reports and dispute any errors. If there are any discrepancies with your credit, the sooner you catch them, the better. Staying up to date with your usage and reporting is essential. Avoid applying for new credit. Unless it is absolutely necessary and you need to buy a new car, home, or open a new

What to Know: Mortgage Broker versus Bank

Cierra Taylor
07 February 2022

Introduction - What are my options when securing a new home loan? When it comes to securing a mortgage, you have a few options. You can go directly to your bank, although banks only offer their in-house products, or through a mortgage broker. Both of these options can help you achieve your mortgage goals, but there are a few things to consider. We've broken down some of the primary advantages and disadvantages of these choices. So, what's the distinction between mortgage brokers and a bank?As mentioned previously, banks only offer their in-house products. This can sometimes be very limiting and harder to qualify for due to stricter guidelines with fewer products. However, if you have a long-standing relationship with a particular bank, they are oftentimes able to offer you great rates and pricing since they already have an established relationship with you and are familiar with your financial standing (aka your ability

What Questions Should I Ask My Loan Officer?

Cierra Taylor
24 December 2021

When you are ready to refinance or purchase a new home, the first step is finding a knowledgeable professional to help guide you through securing your new mortgage. Turning to a mortgage broker is often the best option, as they have access to an abundance of lenders and loan options. Before you begin, you will likely have some questions in mind for your loan officer.What Loan Terms Are Best For Me?The best loan terms for you depend entirely on what your financial goals are when it comes to your mortgage. If you are buying a home, it is common to select longer loan terms such as 30 years. As you slowly pay off your loan, it will make sense to refinance at a lower interest rate because you will owe less on your mortgage and have more equity in your home. Selecting shorter terms will can increase your payments (not

Find The Best Mortgage Broker In Orange County

Cierra Taylor
10 November 2021

Many individuals are facing financial problems in their life, especially due to the unexpected pandemic. However, one positive thing that was brought about by this situation is low mortgage interest rates. Many people are turning to mortgage loan officers and mortgage brokers to refinance their home to save on their mortgage. The Vieira Mortgage team is the perfect team to lean on and look to for guidance on your mortgage. They take time to understand your needs and financial situation to help you reach your goals. Jason Vieira of Clear Mortgage Capital, a California-based Mortgage Broker, is an experienced loan officer who has helped clients reach financial freedom for 17 years. So why choose Jason as your loan officer? Complete knowledge about the industry after 17 strong years in the field, allowing him to find creative solutions to problems that may arise.Quick turn time due to a productive workflow. Has an intimate

5 Tips for a Successful Refinance

Cierra Taylor
26 October 2021

Refinancing presents a great opportunity for homeowners to benefit from the lower payment and save money. However, to refinance in the right way, you should consider a few things. This will guarantee you prepare well before contacting the right lender for refinancing. The best course of action is to seek a professional like a mortgage broker. Here are tips that will be helpful in securing the best mortgage rates. 1. Know your credit scoreHaving a clear idea about the credit score is highly essential as it determines the loans you qualify for and other factors such as interest rates Thus it is vital to focus on improving the credit score before applying for refinancing, especially when on the lower end of the spectrum.2. Understand your equityYou must understand the equity you have currently in your property and is built by making payments timely. Remember, equity determines rates available to you. The

In 2021, How Do You Get the Best Mortgage Rates?

Cierra Taylor
27 September 2021

Whether you are purchasing your first home, refinancing, or remodeling, a new mortgage can help you achieve your goals. However, it is important to prepare in order to secure the best mortgage rates and programs. Here are a couple of things to keep in mind that help you know how to get the best mortgage rates. Improve the credit score Your mortgage rates are contingent on your credit and other major factors. The better your scores, the lower rates you may secure at a lower cost. Even if your credit scores are on the lower side, there is still plenty of opportunities to secure great financing. Our loan officer, Jason Vieira, finds creative ways to increase your scores and open the possibility for better financing if need be. You can improve your credit score over time with timely bill payments and not missing any payments such as your mortgage, credit cards, and

What Are the Advantages and Disadvantages of Mortgage Broker?

Cierra Taylor
14 September 2021

Whether you're thinking of buying a new home or a car, a mortgage broker can undoubtedly assist you in accomplishing different tasks such as documentation or paperwork and availing the mortgage at the available rates. They are quite professional in their work and process residential and commercial mortgage loans on behalf of the client. But at the same time, while looking for a mortgage broker, you will find such professional services at different terms and rates. So, how would you recognize who is ideal to find you the right mortgage? There is a high chance that you end up with an experienced and competent mortgage broker. But do you know they both have advantages and disadvantages? So, before you start your hunt for the right mortgage broker, we suggest you go through this blog post, listing the pros and cons of hiring a mortgage broker. All these below-listed points will surely

6 Options for Refinancing Your Mortgage With Bad Credit

Cierra Taylor
25 August 2021

When looking for ideal ways to refinance with bad credit, you can face many hurdles and challenges. However, there are various opportunities that you can avail yourself of to have a smooth refinancing experience. But before you look for your refinancing options, it is better to consider if refinancing is the right choice for your finances. If you are satisfied, here are the top 6 ways to refinance your current mortgage with bad credit.1. Contact your current mortgage companyTo begin finding a good refinancing source, you should contact your current mortgage company. Generally, a mortgage company has various refinancing options available for present customers. Also, they may have streamlined and term finance that can help get low rates.2. Change the loan termYour current loan term on the mortgage can greatly affect the monthly payment. With a shorter loan term, you will have to clear out your loan amount in a

HMID 101: Home Mortgage Interest Deduction

Cierra Taylor
15 July 2021

If you are a homeowner, you probably know what Mortgage Interest Deduction is. Hopefully, you have taken advantage of it before. Mortgage interest deduction is an incentive for homeowners that allows itemized deduction on interest paid on homes. Home Mortgage interest deduction is one of many tax deductions the IRS offers to homeowners and helps lower the amount owed on taxes. This specific deduction applies to loans used for purchasing, building, and improving homes and can be applied to the purchase of a second home with limitations.The deduction limit can vary. Currently, the limit is $750,000, meaning homeowners can deduct interest up to $750,000 on a mortgage. This assumes the filer is single, joint filer, or head of household.The limit does change and homes purchased within the time of the previous limits are grandfathered in. Don’t worry. Even if you refinance your home, you are still eligible for the tax deduction

Comparing Adjustable Rate and Fixed Mortgages

Cierra Taylor
03 June 2021

Fixed-Rate and Adjustable Rate Mortgages are the two most common loan options. An adjustable-rate mortgage, also known as an ARM, is a mortgage loan option in which the interest rate adjusts throughout the life of the loan. The rate remains consistent for a specific period of time, then will increase or decrease depending on the market at a specified interval, usually 5-10 years. This means that your rate will change every 5-10 years for the life of the loan. A Fixed Rate Mortgage is set at one rate and remains the same throughout the life of the loan. Traditionally, fixed-rate loans have a life of 10, 15, and 30 years. Although, there are untraditional options in between depending on the lender. These two loan options are very different and it's important to know when each of these options makes the most sense for you. When the market is favorable, homeowners can take

It’s Purchase Season and a Highly Competitive Market. What Now

Cierra Taylor
26 April 2021

Although mortgage rates are at record lows, demand for homes creates a new challenge in 2021. This year has seen a large increase in demand for homes fueled by historic low rates. Now the average home buyer needs to offer ABOVE asking price, often by 10's of thousands of dollars. Inventory is dwindling while prices and competition climb. Buyers have to prepare for the highly competitive market. But how? In a world where offers above asking are turned down and a dozen offers are made on a single property, buyers must put their best foot forward at all times to stand a chance. That means making a strong first offer. Depending on the market where one is buying, there may not be a chance to counteroffer. Buyers should give a solid initial offer. Yes, that may mean above asking. Today, the average house sells above asking.Buyers should be prepared to offer

Why Invest in Real Estate?

Cierra Taylor
31 March 2021

Real estate investment is one of the greatest ways to build wealth today. Notice how I said build. It doesn't happen overnight, and it takes a lot of hard work, research, and experience to understand the difference between a good and bad real estate investment. However, when done correctly, it is a very lucrative way to diversify your portfolio and produce passive income. One of the major benefits of investing in real estate is freedom and flexibility. It is a source of income, it could be your only source, where you work for yourself. You get to pick and choose what areas and projects to focus your time and energy on. That is, of course, if there aren't other investors you've teamed up with. That being said, if you are going to find a partner or two, make sure they are like-minded individuals. Too often deals go south when partners

VA Loans 101:

Cierra Taylor
24 March 2021

There are many benefits to a VA loan. One of the greatest benefits is the option for no-down-payment when making a purchase. Borrowers have the option to finance 100% of the purchase versus traditionally putting down 20%. This is great news for service members and vets, as they don't have to spend years saving for their down payment. With no or a smaller down payment, borrowers typically have to pay for mortgage insurance due to the loan being high risk. VA Loans do not require mortgage insurance on top of not requiring a down payment. Fees and costs are limited by the VA, saving borrowers even more money. Additionally, VA loans have more forgiving credit requirements and income requirements are lenient. There are many different VA loan programs. The perfect fit is out there depending on one’s needs and goals. It’s also easier to qualify for a VA Loan than

Mortgages Loans For Self-Employed

Cierra Taylor
19 March 2021

It is common for self-employed borrowers to be denied income-based loans. The solution? Asset-based programs! Although income-based programs are common, that doesn't mean it's the right fit for everyone. It is very common for those who are self-employed to write off large portions of business expenses, affecting income. In turn, some may find it difficult to qualify for these programs. These are the borrowers that make ideal candidates for asset-based programs. Assets can include, more obviously, property and funds, but also includes 401ks, IRAs, Annuities, and more. Asset-based loan programs solve the aged issue of the self-employed being denied a loan based on income even though they are ideal candidates. Credit scores can also present issues for self-employed borrowers, which is why our largest and most utilized lender lowered their credit score minimum for self-employed borrowers from 780 to 700. This is great news for all those self-employed borrowers who were

REFERRAL PROGRAM

Cierra Taylor
11 March 2021

Know someone who needs a mortgage loan or broker? Refer family and friends and receive a $100 Visa Gift card per referral at the time of funding - No limitations! There are so many benefits to using the Vieira Mortgage Team. We have the lowest mortgage rates, quick closing times, countless loan programs, including no-cost loans, and more!

Why Get a Mortgage Loan From a Broker?

Cierra Taylor
09 March 2021

Broker vs Bank.... Broker: Offers access to a variety of lenders & loan products. Brokers have significantly more options than traditional banks and can provide a better, more specialized product. Banks: Only consider their in-house products.--- Broker: By-law are required to disclose the lowest possible rate as is bill of sale and cost to you. They present different available options and allow the borrower to make the final call. Banks: There is no way to tell if you are getting the best rate/loan. They don’t even have to disclose what their earnings are. --- Broker: Represents you and your interests rather than a lending institution. They are dedicated to finding borrowers the best program that suits their financial needs. Bank: Have a financial interest in themselves and their employer --- Broker: Because they have access to an abundance of lenders and programs, there is a higher chance of being approved. Banks: Strict rules and

3 Ways to Save Money on Your Mortgage Refinance

Cierra Taylor
05 March 2021

1 | Make sure your credit is in good standing. If you currently have a lot of debt that is lowering your credit score, consider paying some of it off. A low credit score means higher rates and fewer options. There are ways to find out which debt payoffs will increase your credit the greatest. 2 | Bank or broker. Sometimes, we are more drawn to partner with banks for our mortgages because we already use their services or we've never worked with a broker before. In reality, banks are very limited on their products. Brokers have significantly more options than traditional banks and are known for having the best rates and specialized products. 3 | Avoid the Appraisal or at least prepare for one. Depending on the circumstances, you may receive an appraisal waiver to opt-out of the appraisal. This can save you on average $500. If there’s no getting around

Vieira Mortgage

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30 December 2020

The Vieira Mortgage Team is a group of highly skilled professionals that have served over 7,000 clients ranging from first time home buyers to seasoned real estate investors. Our team delivers the most intimate mortgage experience one can find. Dedicated to giving a top-notch purchase or refinance experience, our approach focuses on cultivating meaningful, long-term relationships with our clients.

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