Christie Mitsumura Blue Seas Team » loan products

You’ve been lied to about down payments—and it’s costing you big

jsavusa2018@gmail.com — Thu, 24 Apr 2025 01:01:55 +0000

Let’s bust a myth that’s holding way too many people back from buying a home.

You’ve probably heard it:
“You need 20% down to buy a house.”

And while it sounds responsible and smart on the surface, it’s not always the winning strategy people think it is.

In fact, waiting until you have 20% saved up can cost you a whole lot more than just time—it could mean missing out on hundreds of thousands of dollars in equity and home value growth.

Let’s unpack why.

The Truth About the 20% Down Rule

The idea of putting 20% down comes from the desire to avoid private mortgage insurance (PMI), a monthly fee tacked onto your mortgage if you put down less than 20%.

And sure—no one loves the idea of paying PMI. It might feel like throwing away money.

But what if that small monthly fee could actually save you big in the long run?

Let’s run some numbers.

Example: Buying Today vs. Waiting 6 Years

Let’s say you’re eyeing a $500,000 home, but you only have 5% saved up.

That’s $25,000 down. Add PMI of about $193/month. That’s manageable, right?

But maybe you’ve been told to wait—save more, avoid PMI, and come in strong with that full 20% down.

So you hit pause and keep saving…

Fast forward 6 years. You finally have $100,000 saved.
But wait—that home? It’s no longer $500,000. It’s $609,000.

Oof.

Now, even with your $100K, you’re only putting down 16%—and you still owe PMI.

Even worse? You’ve just missed out on six years of equity, appreciation, and growth. That’s money future-you could’ve had in your pocket.

Why Time in the Market > Timing the Market

The longer you wait, the more likely prices will rise—especially here in [City] where the market continues to appreciate year after year.

That $193/month in mortgage insurance?
It might feel like a hit now, but it’s far less painful than watching prices rise $100K+ while you’re sitting on the sidelines trying to “save enough.”

Here’s the real cost of waiting:

Lost equity
Higher purchase price later
Potentially higher interest rates
More competition as prices rise

Meanwhile, homeowners who got in earlier are building wealth every month simply by living in their homes.

The Smarter Strategy? Get In When You’re Ready

The truth is, most first-time buyers don’t put down 20%. Many put 5%, 3%, or even as little as 0% down (hello, VA and USDA loans!). And that’s okay.

It’s not about putting down the perfect amount.
It’s about buying when you’re ready—financially, emotionally, and realistically.

If you’ve got enough saved for a small down payment, stable income, and a plan, you’re in a good spot to buy.

From there, let appreciation do its thing.

Bottom Line: Stop Letting PMI Be the Dealbreaker

Private mortgage insurance is a short-term cost, but it helps you make a long-term move.

Yes, it adds a bit to your monthly payment.
But in exchange, you’re building equity, locking in your housing cost, and getting ahead of future price jumps.

And once your home value increases—or you pay down enough of your loan—you can request to remove PMI. It’s not forever.

So, What Should You Do?

✅ Stop waiting for the “perfect” 20% down
✅ Start where you are
✅ Explore low-down-payment loan options
✅ Understand how appreciation builds wealth over time

If you’re ready to make a move, or even just curious what buying now might look like—let’s chat. Because that house you’re dreaming about? It might be more within reach than you think.

The post You’ve been lied to about down payments—and it’s costing you big appeared first on Christie Mitsumura Blue Seas Team.

No W-2? No Problem! Who told you you need a W-2 to buy a home?

jsavusa2018@gmail.com — Wed, 09 Apr 2025 23:47:23 +0000

Let’s get one thing straight: just because you don’t have a traditional 9-to-5 job with a W-2 doesn’t mean homeownership is out of reach.

That outdated idea? Toss it out.

In today’s world, the workforce is shifting. More people are building businesses, freelancing, creating content, driving rideshare, and working gigs on their own terms. You’re not following the old script—and that’s not a disadvantage. It’s just different.

And that’s where 1099 loans come in.

Your Hustle Counts

If you’re a contractor, creative, gig worker, or self-employed boss, your income may not come with a neat little W-2 at the end of the year. But let’s be real—you’re working just as hard (maybe even harder), and your income should count when it comes to buying a home.

I talk to people all the time who’ve been told they “don’t qualify” simply because their income doesn’t fit into the traditional lending box. They’re frustrated. They’ve been turned away by lenders who don’t understand how self-employed income works.

But here’s the good news: That’s not the end of the story.

What Is a 1099 Loan?

A 1099 loan is a type of home loan designed specifically for self-employed individuals, freelancers, and independent contractors—aka, people who get 1099 forms instead of W-2s.

Instead of relying on pay stubs and employer letters, these loans look at alternative forms of income documentation, like:

Your 1099s from the past one or two years
Bank statements showing consistent deposits
Profit & loss statements
Business income summaries

These documents help paint a more complete and realistic picture of what you actually earn—because your income is real, even if it doesn’t look “typical” on paper.

Let’s Be Honest—Your Income Isn’t Unusual

It’s just not typical. And that’s okay.

The truth is, traditional lending hasn’t kept up with how people make money today. But I have. I work with people just like you—content creators, Uber drivers, hairstylists, consultants, real estate agents, online sellers, and more. Your work might not fit inside a cubicle, but that doesn’t mean you shouldn’t have a place to call your own.

And if you’ve been ghosted by lenders who didn’t bother to learn your story or understand your grind, it’s time for a different approach.

It’s All About Strategy

Qualifying for a home as a 1099 worker isn’t impossible—it just takes the right strategy.

It’s about looking at your income differently. It’s about finding the right loan programs. It’s about working with someone who doesn’t make assumptions based on outdated standards.

That’s what I do.

I help self-employed homebuyers navigate the process in a way that makes sense for them. No shame. No confusion. Just a real plan based on your real income.

More People Qualify Than They Think

Seriously. I can’t tell you how many people I’ve talked to who were convinced they didn’t qualify—until we actually sat down and looked at their financials.

If you’re consistently bringing in income—even if it’s from multiple sources or varies from month to month—there’s a good chance you do qualify.

So let’s talk about it.

Ready to Make a Move?

If you’ve been thinking about buying a home but assumed you couldn’t because you don’t have a W-2—think again. You’ve got options, and you’ve got support.

Let’s connect. We’ll take a look at your unique situation and map out a plan that fits your hustle, your income, and your future.

Because your dream of homeownership? It’s still very much alive.

The post No W-2? No Problem! Who told you you need a W-2 to buy a home? appeared first on Christie Mitsumura Blue Seas Team.

If You’re Buying a Home in 2025, You NEED These 4 Accounts in Place!

jsavusa2018@gmail.com — Thu, 13 Feb 2025 00:14:16 +0000

If-Youre-Buying-a-Home-in-2025

Buying a home is one of the biggest financial moves you’ll ever make. And if you’re planning to buy in 2025, setting up the right financial accounts now can make all the difference between a smooth homebuying experience and unnecessary stress.

As a mortgage broker, I’ve helped countless buyers navigate the process, and I can tell you firsthand—financial preparation is key! So, let’s break down the four essential accounts you should have before you buy a home.

Checking Account – The Hub for Your Finances

Your checking account is where your financial transactions happen—paying bills, covering daily expenses, and managing cash flow. But here’s the mistake many homebuyers make: keeping too much money in their checking account.

Your checking account should only hold enough money to cover three months of expenses at any given time. Why? Because idle money sitting in a checking account isn’t working for you. Interest rates on checking accounts are typically very low, meaning your money isn’t growing. Instead, use this account strictly for expenses and keep your excess funds in high-yield savings accounts where they can earn interest.

High-Yield Savings Account (HYSA) – Your House Fund

If you’re planning to buy a home, you’ll need funds for your down payment, closing costs, and initial home expenses—and this money needs to be in a safe place where it can grow. That’s where a high-yield savings account (HYSA) comes in.

Unlike regular savings accounts, HYSAs offer higher interest rates, typically around 3.75% or more. This means your money grows while you’re saving, helping you reach your homeownership goal faster. Look for an HYSA with no fees and easy access, so you can withdraw your funds when it’s time to close on your home.

Emergency Fund – Your Safety Net

Life happens. Unexpected car repairs, medical bills, or job changes can throw a curveball at your finances. The last thing you want is to be financially stretched right before (or after) buying a home.

A good rule of thumb? Keep 3-6 months’ worth of expenses in a separate HYSA dedicated to emergencies. Some banks allow you to create sub-accounts within your HYSA, making it easy to separate your emergency fund from your house fund while still earning interest.

An emergency fund provides peace of mind, ensuring that you can handle surprises without dipping into your home savings or disrupting your mortgage payments.

Retirement Accounts – Thinking Long-Term

While buying a home is a major financial milestone, it’s not your only financial goal. Retirement planning should still be a priority, even when saving for a house.

If your employer offers a 401(k) with a match, contribute enough to get the full match—it’s free money! After that, consider opening an Individual Retirement Account (IRA) to further grow your retirement savings.

Not sure if you’re on track? Tools like Vanguard’s retirement calculator can help you estimate your future savings and adjust your contributions as needed. While your home is an investment, you don’t want to neglect the bigger picture of long-term financial security.

Final Thoughts: Build Your Financial Foundation Now

Buying a home is exciting, but it requires smart financial planning. Setting up these four accounts will put you in the best position to purchase a home without unnecessary stress or setbacks.

As a mortgage broker, my goal is to help you navigate the homebuying process with confidence. If you’re preparing to buy in 2025, let’s talk about your financial goals and mortgage options. Send me a message, and let’s get you on the right path to homeownership!

The post If You’re Buying a Home in 2025, You NEED These 4 Accounts in Place! appeared first on Christie Mitsumura Blue Seas Team.

Graduated Payment Mortgage Program

jsavusa2018@gmail.com — Fri, 01 Dec 2023 21:23:55 +0000

Calling all Realtors, I am hosting a Zoominar for you!

Are current interest rates keeping your clients from their real estate goals?

Sign up for my upcoming Zoominar on 12/15/2023 or schedule a 121 call with me today! If you prefer coffee talks let’s do it (808)276-6855!

Let me help you achieve your real estate dreams in this current market.

CLICK here to schedule a 121 with me

CLICK here to reserve your spot for the December 15th Zoominar, space is limited.

The post Graduated Payment Mortgage Program appeared first on Christie Mitsumura Blue Seas Team.

Homebuying Success Series

cmitsumura@masonmac.com — Sat, 15 Apr 2023 01:15:23 +0000

Joining this series will give you priceless information you need to reach your goal of homeownership. I will be sharing with you from start to finish of the homebuying process, to ensure you will know what to expect, and help you prepare to secure the best future for you and your family.

There are 6 quick zooms that are part of this series:

Part 1: The homebuying process before getting a real estate agent- knowing where you stand and how much home you can buy is KEY to success

Part 2: Building and understanding credit- Learn do’s and don’t to have a strong credit profile

Part 3: Understanding closing cost- Know what to expect in addition to down payment, avoid surprises

Part 4: Understanding title and escrow- Guest speaker- What do they do…

Part 5: Renters to Owners- This zoom will teach you about special programs and products for first time homebuyers – A MUST if you are a first time homebuyer

Part 6: Get a certified pre-approval and find a trusted real estate agent- CONGRATULATIONS, you are half way there.

Can’t make it to all? No problem, there will be other offering of this series, stay tuned.

I strive to provide you the knowledge to move you through this process with ease.

Please REGISTER to attend. SEE YOU THERE!

The post Homebuying Success Series appeared first on Christie Mitsumura Blue Seas Team.

Land and Construction – Mar 2023

jsavusa@masonmac.com — Wed, 08 Mar 2023 20:31:13 +0000

ALOHA!

Featuring our Land & Construction Zoominar on Wednesday, March 22, 2022 @ 6:30pm (registration required)

Attending will give you the “What you need to know” about:

Land Loans
Construction Loans
Timeline
Preparation
Seats are limited, SECURE YOUR SPOT TODAY ←click to register

Is this ZOOMINAR for you?

Dreams of building your DREAM HOME?
Plans to expand or upgrade?
Interested in learning how these loans work?

We look forward to seeing you there!

The post Land and Construction – Mar 2023 appeared first on Christie Mitsumura Blue Seas Team.

March Renters to Owners Zoominar

jsavusa@masonmac.com — Wed, 22 Feb 2023 22:55:02 +0000

Click Image to enlarge

Who should attend?

Anyone who…

is tired of RENTING…
has thought of purchasing a home in Hawaii
would like to learn homebuying preparations
would like to learn about down payment assistance & our EXCLUSIVE buyer advantage programs

Join me as I share information about the process and programs with First Time Homebuyers.

I provide more than an “Approval”, “Denial”, or “Button” service. I work with you to SUCCESS. Taking you from Renters to Owners!

Servicing all of Hawaii for over 23 years, “Making a difference in the lives of others”

TAKE THE FIRST STEP – REGISTER HERE TODAY⇐

The post March Renters to Owners Zoominar appeared first on Christie Mitsumura Blue Seas Team.

Renters to Owners Zoominar

jsavusa@masonmac.com — Wed, 01 Feb 2023 20:12:31 +0000

Click Image to enlarge

Who should attend?

Anyone who…

is tired of RENTING…
has thought of purchasing a home in Hawaii
would like to learn homebuying preparations
would like to learn about down payment assistance & our EXCLUSIVE buyer advantage programs

Join me as I share information about the process and programs with First Time Homebuyers.

I provide more than an “Approval”, “Denial”, or “Button” service. I work with you to SUCCESS. Taking you from Renters to Owners!

Servicing all of Hawaii for over 23 years, “Making a difference in the lives of others”

TAKE THE FIRST STEP – REGISTER HERE TODAY⇐

The post Renters to Owners Zoominar appeared first on Christie Mitsumura Blue Seas Team.

Renters to Owners Zoominar – Jan 2023

jsavusa@masonmac.com — Wed, 04 Jan 2023 19:09:44 +0000

Click on image to enlarge

Who should attend?

Anyone who…

is tired of RENTING…
has thought of purchasing a home in Hawaii
would like to learn homebuying preparations
would like to learn about down payment assistance & our EXCLUSIVE buyer advantage programs

Join me as I share information about the process and programs with First Time Homebuyers.

I provide more than an “Approval”, “Denial”, or “Button” service. I work with you to SUCCESS. Taking you from Renters to Owners!

Servicing all of Hawaii for over 23 years, “Making a difference in the lives of others”

TAKE THE FIRST STEP – REGISTER HERE TODAY⇐

The post Renters to Owners Zoominar – Jan 2023 appeared first on Christie Mitsumura Blue Seas Team.

2023 Conventional Loan Limits

jsavusa@masonmac.com — Fri, 02 Dec 2022 01:31:09 +0000

The Federal Housing Finance Agency (FHFA) has released the loan limits for 2023. With this announcement, FHFA has effectively raised the limit on how many dollars can be borrowed using Fannie Mae & Freddie Mac Conventional loan products. The loan limits increased across the nation, with variances in the increases for “high cost areas”, and also for multi-unit properties. That is, the loan limits are higher for high cost areas, and also higher for multi-unit properties.

Here is the chart showing the loan limit updates for the year 2023:

What does this mean for borrowers?

Borrowers can benefit from the increases in loan limits mostly due to the fact that conventional lending guidelines are more forgiving than jumbo loan guidelines. Any loan above the conventional loan limit falls into jumbo loan territory, and may be more difficult to qualify for. For example, many jumbo loan products require at least 10% down payment and good to great credit scores. Conventional loans require 3-5% down payment, and are far more forgiving in terms of FICO score.

These increases also mean that more cash is available to home owners who want to use conventional cash out refinance mortgages, and investors who want to purchase more expensive investment properties using conventional guidelines.

With home prices rising drastically year over year since 2020, these loan limits should help more borrowers access competitive financing terms , and help those in higher priced markets buy a home without an immense down payment.

1st Time Over $1 Million

2023 marks the first year FHFA will allow Fannie Mae & Freddie Mac backed conventional mortgage loans exceeding $1 million dollars in high cost markets for single family homes. This will help buyers obtain loans to help buy homes in expensive metro areas or areas where median home values have exceeded the million dollar mark, without the need for an intimidating down payment. To fully understand the benefit, take a competitive jumbo loan product and compare the down payment requirement on a $1.1M home. With a competitive jumbo product requiring a 20% down payment, that’s a $220,000 investment (before closing costs!) to get into a home. With a conventional loan product requiring just 5% down, the initial investment shrinks to $55,000, helping to make it easier to achieve the dream of home ownership in higher cost communities.

For more information, or to see what the loan limits are in your community, reach out to me today!

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