Have you decided to put off purchasing a home? If you’re worried you’re paying too much for a house- think again. Here’s why: Higher Home Prices Let’s take a pause and rewind to 2012, the unemployment rate exceeded 8%, short sales and foreclosures were rampant, consumer confidence was low, the prospectus of job growth was…
Mortgage rates are now the lowest level we’ve seen in the last 17 months ago. If you can save money by refinancing your mortgage or have been putting it off, you owe yourself to explore your options. Here’s the five setbacks to know before pulling the trigger… The 1% Rate Reduction Rule Most finance experts…
Many millions of consumers who either previously owned a home or have never owned a home before are all too familiar with the financial drain renting poses. Here’s four renting realities consumers face… Your Home Is Controlled By Your Landlord A legal right to occupy the property does not not include making changes to the…
Had a previous bad credit event? Don’t have two years in the same field? Income not three times your proposed payment? Fear not, when your financial picture doesn’t fit the box, here’s how you may still qualify some lenders… To get a mortgage, you must have the four pillars lenders use to frame together a…
The days of needing 20% down to buy a home are long gone. To compensate, lenders charge private mortgage insurance as means to offset risk, driving up would-be borrowers’ mortgage payments. Here’s how you can buy a home with less than 20% down and still avoid dreaded PMI… Quick PMI Nuts And Bolts Private mortgage…
Applying for a home loan? Omitting, hiding, manipulating or not showing income, may be a gray area with your mortgage company. What to know… When you apply for a home loan, there are specific income documentation requirements, all lenders will require to fund on a mortgage . This includes: Two most recent years income tax…
Looking to buy a home with a munchkin on the way? The details of your temporary leave may impact your ability to perform when you identify a home. Here’s what you need to know when taking a maternity leave of absence and how a home loan lender will view your income status… Current Income Or…
Unfortunately not, there is no specific Santa Rosa or Sonoma County first Time home buyer program available anymore. Down payment assistance options come in the form of pulling money out of retirement accounts such as stocks, bonds, IRA and 401(k) options. Another fantastic source for a down payment is gift funds. Many potential homebuyers are…