Santa Rosa mortgages Archives - Sonoma County Mortgages

FHA Loan Update: Easier Process for Family Gift Funds

Scott Sheldon — Thu, 23 May 2024 19:03:50 +0000

If you’ve been thinking about buying a home with an FHA loan, there’s some exciting news that could make the process smoother, especially if you’re relying on family for financial help. The Federal Housing Administration (FHA) just announced a significant change to its guidelines that could make it much easier for homebuyers… What Changed? Since…

The post FHA Loan Update: Easier Process for Family Gift Funds appeared first on Sonoma County Mortgages.

Do future Fed cuts mean lower mortgage rates?

Scott Sheldon — Thu, 11 Jan 2024 18:02:36 +0000

When the Federal Reserve Bank increases or cuts the Fed funds rate, many people believe that it automatically makes mortgage rates go up or down. However, it’s not that simple. The relationship between the Fed’s actions on monetary policy and mortgage rates is a little more complex than that. When the Fed is increasing interest…

The post Do future Fed cuts mean lower mortgage rates? appeared first on Sonoma County Mortgages.

Here’s a strategy to buy a home and set up a future refinance

Scott Sheldon — Sun, 03 Dec 2023 18:28:59 +0000

For 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…

The post Here’s a strategy to buy a home and set up a future refinance appeared first on Sonoma County Mortgages.

Why being choosy as home buyer could be problematic

Scott Sheldon — Sun, 29 Oct 2023 16:40:48 +0000

You’ve decided to buy a home, you’ve gotten preapproved with a lender, your file has even been pre-underwritten. Here are some things you might want to give some consideration to- what you want versus what the market might support… Here’s to considerations to think about.. Consideration one- Let’s say you’re pre-approved to $700,000, the house…

The post Why being choosy as home buyer could be problematic appeared first on Sonoma County Mortgages.

Are USDA loans worth the hype?

Scott Sheldon — Sun, 24 Sep 2023 16:43:48 +0000

The US Department of Agriculture guarantees loans for certain families in certain geographic locations. These loans can be potentially an affordable loan program to help a family who doesn’t have a down payment buy a home in an area considered to be less industrialized a.k.a. agricultural. If you’re looking to get a USDA loan, here…

The post Are USDA loans worth the hype? appeared first on Sonoma County Mortgages.

Here’s how your homebuying options change when interest rates fall

Scott Sheldon — Sun, 27 Aug 2023 17:21:58 +0000

You and your family are thinking about buying a home, but the prospect of a 6.5-7.0% mortgage doesn’t sound all that appealing right? Do you want interest rates to come down so you can have a more affordable mortgage? This makes sense, but it’s a deeper problem and here are some things you should be…

The post Here’s how your homebuying options change when interest rates fall appeared first on Sonoma County Mortgages.

How to set realistic expectation for yourself when deciding to buy a home

Scott Sheldon — Sun, 30 Jul 2023 18:37:04 +0000

If you’re looking to purchase a house you need to be all in. That means you need to surrender to the expectations your realtor and lender have laid out for you so you can be successful. If you’re thinking about buying a house here are some things to consider… Your realtor and your lender are…

The post How to set realistic expectation for yourself when deciding to buy a home appeared first on Sonoma County Mortgages.

How different mortgage loan types impact how much money you can get for seller credits

Scott Sheldon — Sun, 16 Jul 2023 17:05:50 +0000

If 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 &…

The post How different mortgage loan types impact how much money you can get for seller credits appeared first on Sonoma County Mortgages.

5 signs you should wait to buy a house

Scott Sheldon — Sun, 25 Jun 2023 17:40:47 +0000

If you’re thinking about buying a home, but you’re just not sure. You’re probably better off listening to your gut. That looming credit card debt, or personal loan, that you just can’t seem to kick whatever the case may be here are five reasons you might want to think about waiting to purchase a home…

The post 5 signs you should wait to buy a house appeared first on Sonoma County Mortgages.

Here is a smart mortgage strategy for buying a home in 2023

Scott Sheldon — Sun, 11 Jun 2023 17:24:10 +0000

If you’ve been on the fence about buying a home and you’re thinking about potentially getting prequalified. Here are some things you should give some consideration to… You might be telling yourself “I don’t want to buy a home right now because interest rates are kind of high.” The question becomes in relation to what?…

The post Here is a smart mortgage strategy for buying a home in 2023 appeared first on Sonoma County Mortgages.