New USDA Income Limits for Sonoma County: You May Now Qualify for 100% Home Financing If you’ve been thinking about buying a home but assumed your income was too high for a USDA loan, it’s time to take another look. The USDA has updated its income limits, and many Sonoma County homebuyers who didn’t qualify…
One of the most common questions we hear from homebuyers has nothing to do with interest rates, credit scores, or down payments. Instead, it sounds something like this: “If my parents or grandparents help me buy a house, am I going to have to pay gift taxes?” The good news is that, in almost every…
When mortgage rates fall, most people immediately assume buying a home becomes easier. At first glance, that logic makes perfect sense. Lower interest rates generally mean lower monthly payments. Lower monthly payments often increase purchasing power. More purchasing power should make housing more affordable. However, that is only part of the story. What many buyers…
If you’ve been thinking about buying a home in Sonoma County, you’re probably paying close attention to mortgage rates. Interest rates have been one of the biggest topics in real estate over the last few years, and many buyers are wondering whether now is the right time to purchase a home or if they should…
Picture this. You’re in contract on a home. The seller agrees to give you $15,000 in concessions. Now comes the real decision: Do you use that money to: Cover your closing costs? Buy down your interest rate? Or reduce the purchase price? All three options sound good. But they impact your finances very differently—both now…
For those that have been sitting on the sidelines, watching what’s happening in the market. Are you thinking to yourself “gosh I should have bought a house last year or a few years ago!” Remember, hindsight is 20-20 and you can’t regress you can only go forward. So, when are housing prices going to return…
If you’re looking to purchase or refinance a home, and you have not filed your 2021 tax return yet. And this goes for any year, here’s what you need to know as it relates to showing income. Let’s say you’re self-employed or you’re a W2 employee and you have additional income sources. Such as…
The Federal Reserve increased the Fed funds rate by 25 points to slow down the highest inflation seen in 30 years. As a result, here’s what this means for interest rates, credit cards, and home equity lines of credit. In short, everything is going up. Mortgage rates are also higher but not because of…