Anyone buying a home is all too familiar with the fact interest rates have risen sharply and dramatically in the last several weeks. Buyers and homeowners alike, should expect rates to be at these levels as long as positive economic data continues to surface in the financial markets. Unfortunately for many, due to current lending…
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An alternative to purchasing property on the open market is to purchase family-owned property. Buying a family-owned home allows the buyer and the seller to directly set the purchase price between themselves. How To Set Up The Transaction In a family purchase buy out, relationship between parties doesn’t matter (as long as clearly explained), more…
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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…
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You will want to speak with the local mortgage loan officer upfront. Ideally a loan officer who, as a Fannie Mae Freddie Mac lender and has access to various mortgage loan programs including FHA loans, conventional loans VA loans, USDA loans and home path loans. Put another way, the lender that has the full gamut…
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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…
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This real estate market is continuing to produce many fantastic opportunities including a very make sense approach to purchasing income property. Decide where to invest your your cash… 6 Reasons Income Buying Property Makes Sense 1. Low Mortgage Rates– even for investment properties, continue to remain low creating a favorable mortgage payment. It’s not uncommon…
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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…
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It’s a fact buying a house today has never been more affordable. Low house prices coupled with record low mortgage interest rates have made purchasing a primary residence, second home or investment property very appealing for many. Unfortunately, many purchase transactions fall out of escrow, some buyers are unable to qualify for mortgage loan financing…
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