Harp 2 Refinance Program Archives - Sonoma County Mortgages https://sonomacountymortgages.com/tag/harp-2-refinance-program/ Sat, 02 Dec 2023 00:29:13 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://sonomacountymortgages.com/wp-content/uploads/2023/05/cropped-scm2-sonoma-cm-2-32x32.png Harp 2 Refinance Program Archives - Sonoma County Mortgages https://sonomacountymortgages.com/tag/harp-2-refinance-program/ 32 32 Here’s a strategy to buy a home and set up a future refinance https://sonomacountymortgages.com/2023/12/purchase-a-house-refinance/ Sun, 03 Dec 2023 18:28:59 +0000 https://sonomacountymortgages.com/?p=518079 Here's a strategy to buy a home and set up a future refinanceFor families looking to purchase a home, good news has arrived interest rates are slowly starting to descend. As time goes on purchasing power for family’s home searching will rise. So, the benefit of this is a lower monthly payment, potentially qualifying for a larger priced home by market forces. Here are some things to…

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]]> What happens with real estate prices when interest rates ultimately fall? https://sonomacountymortgages.com/2023/11/what-happens-with-real-estate-prices-when-interest-rates-ultimately-fall/ Sun, 19 Nov 2023 17:46:35 +0000 https://sonomacountymortgages.com/?p=518061 5 practical ways to increase your purchasing power when buying a homeIt’s no surprise that interest rates drive the housing market. If more people can buy a home, more demand is created and more demand drives housing prices up, which subsequently results in gaining home equity. Following are the dynamics that transpire in the market when interest rates come down… Homeowners stand to gain more equity…

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]]> How your financial experience might hinder your ability to get a mortgage loan https://sonomacountymortgages.com/2023/10/financial-experience-mortgage-loan/ Mon, 23 Oct 2023 15:00:37 +0000 https://sonomacountymortgages.com/?p=518033 How your financial experience might hinder your ability to get a mortgage loaGetting a loan to buy a home is a maze of questions, examinations, along with an array of emotions. Here are some things to consider that might hinder your ability to get a mortgage loan… You have a strong financial situation. Let’s say you’ve got strong income and or revenue within your business, excellent credit, cash…

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]]> How different mortgage loan types impact how much money you can get for seller credits https://sonomacountymortgages.com/2023/07/mortgage-loan-types-sellercredit/ Sun, 16 Jul 2023 17:05:50 +0000 https://sonomacountymortgages.com/?p=517855 How different mortgage loan types impact how much money you can get for seller creditsIf you’re thinking about buying a home and you’re short on cash, here are a few things you might want to consider as it relates to downpayment and closing costs... There are two main mortgage types; government-backed loans, and government-insured loans. Government-backed loans are Fannie Mae and Freddie Mac while government-insured loans are FHA &…

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]]> Why failing banks is good news for mortgage rates https://sonomacountymortgages.com/2023/05/why-failing-banks-mortgage-rates/ Mon, 22 May 2023 17:06:15 +0000 https://sonomacountymortgages.com/?p=517774 Why failing banks is good new for mortgage ratesIn the last few weeks, a handful of big banks have failed including Silicon Valley bank signature bank, and now First Republic Bank. While this is not a repeat of 2008, it does signal instability in the broader mortgage market which may be good news for long-term mortgage rates. Hear some things to consider… First…

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]]> New Mortgage Loan Limits for 2023 https://sonomacountymortgages.com/2022/12/loan-limits-for-2023/ Sun, 04 Dec 2022 18:00:43 +0000 https://sonomacountymortgages.com/?p=17512 How to avoid getting a jumbo loan due to CoronavirusThe Federal Housing Finance Agency announced on Tuesday, November 29th the new loan limits for 2023. The new conforming loan limit has increased and has been year over year 7 years in a row. If you’re thinking about purchasing or refinancing a home in 2023 here is what you need to know… The loan limit…

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]]> Should you buy a house with a homeowners association? https://sonomacountymortgages.com/2021/09/buy-a-house-hoa/ Sun, 12 Sep 2021 15:28:07 +0000 https://sonomacountymortgages.com/?p=16814 Why rising interest rates can be good news for some homebuyersHomeowners’ associations are legal governing bodies that determine the Aesthetics of the property, uniformity, and oftentimes cover things like maintenance of the property, garbage sometimes sewer, water, and various other things. A Homeowner’s association is a legal entity what that means is that they can enforce the rules and the regulations of the association. What…

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]]> Why your granny unit might ding your mortgage application https://sonomacountymortgages.com/2020/12/granny-unit-cost-mortgage/ Thu, 17 Dec 2020 18:00:01 +0000 https://sonomacountymortgages.com/?p=16441 Home with CalculatorPeople trying to refinance their mortgages to take advantage of favorable current market conditions might come to realize they have a problem with their house. A granny unit can be a wonderful opportunity to maintain a mortgage, drive affordability as part of the broader budget, however, if it’s not done in the right way, it…

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]]> How much does it cost to refinance your mortgage? https://sonomacountymortgages.com/2017/11/cost-to-refinance-mortgage/ Tue, 14 Nov 2017 20:35:49 +0000 https://sonomacountymortgages.com/?p=15385 bank statement program for getting a mortgageIf you’re trying to refinance your mortgage you should know what the costs are really are going to be and how they play into the mathematical equation of the total picture. Here’s what you need to know when it comes to refinancing your house and paying fees… When you refinance your house your closing costs…

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]]> Why this factor will not matter when refinancing https://sonomacountymortgages.com/2017/06/factor-when-refinancing/ Tue, 06 Jun 2017 19:36:59 +0000 https://sonomacountymortgages.com/?p=15273 15% down to buy a rentalIf it has been a few years since you took out a mortgage loan, be prepared for questions, and to thoroughly document everything. A critical characteristic of good character is payment history. Payment history is  indicator of good financial merit, however it does not hold any weight in the larger financial picture.  You must have…

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