November 5, 2017
Issuing a Pre-Approval letter involves correctly analyzing three different but critical components of the File: 1. Credit 2. Income 3. Debt Each of these areas is very complex. If questions arise when documents provided by Buyers are being reviewed, it’s in the best interests of the Buyer and the Agent representing them that we as a Lender get clear cut……
March 6, 2017
Buying a new home should be an exciting time in one’s life. Yet, many people are overwhelmed by the requirements for obtaining a mortgage. Fortunately, most stress-causing issues are totally avoidable! Over the years, I’ve witnessed many buyer actions that were ultimately harmful to their mortgage process. However, a little foresight and preparation can result in time saved, less paperwork,……
June 15, 2016
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USDA Guidelines & Rules / USDA Income Eligibility / USDA Property Eligibility / USDA Zero Down Loans
The USDA home loan (also known as the Rural Development mortgage) in Riverside County California and other areas is getting cheaper! Per a recent announcement, Effective October 1, 2016, both the upfront guarantee fee and the annual fee (paid monthly) will be reduced with USDA mortgages. This new fee structure will remain in place until September 30, 2017, the end……
February 5, 2016
Homebuyers in Temecula, Murrieta and other areas of California can now buy a home with a Downpayment Assistance Grant that does NOT need to be repaid. Yes who read that right. It’s a true grant, not a deferred loan like many other programs. With the Sapphire Downpayment Grant program, California homebuyers can choose to have either 3% or 5% of……
December 22, 2015
November 13, 2015
About time HUD loosened things up with regard to Condos so buyers can buy them with FHA financing. Thus far it’s been a fairly lengthy and tricky process that HOA’s have had to endure to get a Condo project approved and as a result, for many homebuyers, a Condo is not an option if they need FHA financing. Today’s announcement……
October 19, 2015
California Housing Finance Agency Launches New Mortgage Assistance Program Helps first-time homebuyers with down payment and closing costs SACRAMENTO, October 19, 2015 – The California Housing Finance Agency has launched the MyHome Assistance Program for first-time homebuyers who may need help with down payment or closing costs when purchasing a home. Buyers can receive up to 5% in assistance, low……
September 6, 2015
admin USDA Guidelines & Rules / USDA Income Eligibility / USDA Zero Down Loans
You can buy a home in Winchester CA and other areas with zero downpayment, 100% financing using a USDA loan. But getting a USDA loan for purchasing a home in California such as Winchester California can be fraught with difficulties if you don’t prepare well for underwriting. There are several important points you ought to address before applying: 1. List……
June 20, 2015
As a homebuyer looking to qualify for a VA home loan in California, you must secure a Certificate of Eligibility. The official VA website has the following, helpful chart breaking down the amount of required time in service to be eligible:
June 13, 2015
Realtors(R) and Homebuyers should be aware of new rules that go into effect August 1, 2015 that could add as much as 15 days or more to the Closing process. I have set up a very informative (free) webinar for Real Estate Professionals on the details. Click here to register and watch the free webinar on TRID rules
