Michael Pelayo

Mortgage Loan Originator

NMLS# 2301982 DRE# 02199038

Michael Pelayo Mortgage Loan Originator

Blog

How to Build Home Equity

While it is possible to get into homeownership with little upfront investment, there can be many benefits to building up equity in a property. Mortgage equity is the value of the homeowner’s sta Apr 24, 2019

How to Calculate Your Debt-to-Income Ratio

When you are ready to apply for a mortgage loan, your lender will ask you for all sorts of financial information. One of the things lenders do with this data is to calculate your debt-to-income (DTI) Apr 17, 2019

Can I Qualify for Down Payment Assistance?

One of the biggest obstacles to homeownership is coming up with enough cash for a down payment. When your own savings are not adding up quickly enough and you don’t have a rich uncle to tap for Apr 10, 2019

What is a 5/5 ARM?

If you are familiar with adjustable-rate mortgages (ARMs), you have probably heard of the 5/1 ARM or even the 10/1 or 1/1 ARM. There is a newer ARM loan available that is growing in popularity: the 5/ Apr 03, 2019

5 Ways to Save Money on Your Mortgage

Mortgage interest rates have been near rock-bottom lows for many years but are likely to increase over the next few years. Even though you can no longer count on record low interest rates, there are p Mar 27, 2019

Best Time of the Year to Buy a Home

Whether you have been saving up for your first home or you are ready to upgrade to a bigger place, you may be wondering if there is a “best” time to buy a home. While it depends on your pr Mar 20, 2019