There are many things to take into consideration when preparing to buy a home. Below, I have outlined 6 key issues that are important for you, a prospective homebuyer, to address. Each item is detailed below the outline. Review your credit Once you decide you may be in the market to buy a home, you’ll […]
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California’s Rising Rents
California’s Rising Rents California has been seeing rapidly risings rents since 2021. Not unlike the spike in costs for goods and services, rent is rising faster than worker incomes, especially here in California. A reason behind these rent increases is due to demand being greater than existing supply. Much construction has been delayed due to […]
Average Mortgage Rates Since 1972
Conventional, Conforming, 30 Year Fixed-Rate, 50 Year Mortgage History Year Average Interest Rate Average Points 1972 7.38 0.9 1973 8.04 1.0 1974 9.19 1.2 1975 9.05 1.1 1976 8.87 1.2 1977 8.85 1.1 1978 9.64 1.3 1979 11.20 1.6 1980 13.74 1.8 1981 16.63 2.1 1982 16.04 2.2 1983 13.24 2.1 1984 13.88 2.5 1985 […]
Is an Adjustable Rate Mortgage Right for You?
While the U.S. Federal Reserve is set to increase the federal funds rate by 0.50%, it is important to note that rates are still low, historically speaking. This is the first time, however, that rates will increase by 1/2 percentage point, at one time, since May of 2000. The purchase market is still strong and […]
Prop 19 Replaces Props 60, 90, and 110
As of April 1, 2021, Base Year Value Transfers for persons at least 55 and/or disabled have new guidelines as Prop 19 replaces Props 60/90/110. The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disasters Act Below you will see an outline of these updates. Prop 60/90/110 Prop 19 Type […]
No-Cost Appraisals
No-Cost Appraisals For loans submitted before June 30, 2022, we will reimburse buyer’s appraisal fee at closing. This no-cost appraisal applies to the purchase of a primary residence whether your financing is conventional, government, or a jumbo purchase loan. We know that every bit of savings is helpful when it comes to making an investment […]
No Mortgage Insurance up to 89.99% LTV
MI BUSTER – No MI up to 89.99% LTV Purchase OR Rate & Term Refinance up to 89.99% LTV without MI!! Minimum loan = $200,00. Maximum loan = conforming loan limit in your county. Primary OR 2nd Homes allowed. No longer is it necessary to carry MI when borrowing >80% if you qualify for this […]
Conventional Financing to 97% LTV
Conventional Financing to 97% LTV While we do offer Government/FHA financing to 96.5%, we also have a Conventional option as well. First time homebuyer, primary residence, with as little as 3% down payment. MI still applies but now there’s an option between FHA Funding Fee or Lender MI options. Call today to find out if […]