Are you dreaming of becoming a homeowner but struggling to save up for a down payment? Don’t worry, you’re not alone. Many aspiring homeowners in California face this hurdle on […]
Embarking on the journey to homeownership can be both exciting and overwhelming, especially when it comes to figuring out the financial details. One of the most frequently asked questions by […]
Welcome to your comprehensive guide to first responder home loans! As a first responder, you dedicate your life to serving others. Now, it’s time for us to serve you. Whether […]
51 OFFERS ON ONE PROPERTY! (HOUSING MARKET MUST BE CRASHING) One of our pre-approved buyers was one of 51 offers yesterday. When CNBC’s Diana Olick (the loudest housing doomsday voice […]
We are getting questions about Assumable Loans again, as there are a lot of sellers with very low-rate mortgages selling homes in our current high-rate environment. If those sellers could […]
This is a short blog, but it is a great reminder for every agent working with or catering to newlyweds! Cash received for a wedding gift can be used towards […]
All too many homebuyers mistakenly believe that they need to put down as much as humanly possible for several reasons: (1) they want to minimize their housing payment; (2) they […]
Many buyers take advantage of owner-occupied financing, even if they plan on renting out the properties later on, because the rates and down payment requirements are so much lower. These buyers do need to be careful and here are some of the considerations.
We have received a ton of questions recently regarding the California Housing Finance Agency's (CalHFA) new program that offers a 10%, forgivable, interest-free loan to first-time homebuyers. So, we want to clarify the program's guidelines and touch on some serious tradeoffs buyers should consider.
This is a quick reminder that renters can use “rent credits” towards their down payment. The entire down payment can be in the form of a rent credit in fact. […]
Gift Of Equity This is a reminder that sellers can “Gift Equity” as all or a portion of a down payment. If the entire down payment is a “Gift of […]
Most agents and buyers know that Private Mortgage Insurance (PMI) is usually necessary when a buyer puts less than 20% down. What most people don’t know is that almost every lender offers a “10% down loan with NO PMI,” even though loan officers often market these products as “unique offerings.”
I blogged Thursday about Down Payment Assistant Programs and about the Chenoa program in particular. We received a lot of positive responses but I still sensed some confusion in regard […]
We recently had a borrower with ample income and about $70,000 of liquid assets try to squeeze into a $600,000 home with 10% down. She wanted to put as much […]
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