As we round up the fiscal year 2012 and move into 2013, the next 12 months is showing compelling reasons why would-be home buyers are going to be buying more homes. In the beginning of 2012, the consensus was the real estate market was low, even flat in some parts. In summer 2012, purchase business…
Great question There are several different programs which would help you decide on purchase price, and monthly payment and certainly loan qualifying. The minimum down payment to purchase a house anywhere in Sonoma County’s 3.5% which would be on an FHA insured government loan program. If your income is $92,000 per year or lower, and…
Home Loans are made against your ability to repay. While the mortgage loan is secured against the house, it is really made against your income. That’s what mortgage lenders are look for, income to offset liabilities. Yes, a house payment is liability for a borrower. Oftentimes, there is a disparity between how much house you…
Any home buyer putting less than 20% down today has probably been offered or researched the possibility of using a government loan to buy a home. Government loans offer flexible financing alternatives to the standard 20% down conventional loan. Although government loans do contain monthly mortgage insurance, these options allow for a more complete story…
Not a week goes by when we are not asked “how soon can you buy a home or refinance a mortgage with a previous foreclosure, short sale or bankruptcy”. As the market continues to improve, many people are still seeking mortgage loans. Home buying opportunities have never been more affordable coupled with the low interest…
Buying a house is certainly a smart financial move given low mortgage rates and the most affordable home prices, ever. Each market is different so for our purposes we will be looking at the Sonoma County California housing market. Following is what you can expect if you plan to purchase a house in Sonoma County…
Thinking about purchasing or refinancing using the Sonoma County mortgage? If yes, the mortgage insurance premiums on FHA Home Loans are set to rise again on April 1. The Federal Housing Administration continues to keep a close eye on their capital reserves and as a result, have instituted higher costs on FHA Home Loans originated…
Getting your home loan request denied, is certainly not a fun thing to deal with. Lots of times certain mortgage companies have internal mortgage loan underwriting requirements which might be more constrictive than a competitor of theirs. Not every mortgage company has the same set of guidelines and standards. Fannie Mae and Freddie Mac and…