A closed-end second mortgage can be a great option for homeowners looking to remodel for several reasons: Fixed Loan Amount A closed-end second mortgage provides a lump sum of money at the start of the loan, which is especially beneficial for remodeling projects with a defined budget. For example, if you have a clear estimate […]
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California Proposition 33 November 2024
California Proposition 33 November 2024 Proposition 33, on California’s November 2024 ballot, aims to expand the authority of local governments to impose rent control on residential properties. If passed, it would repeal the Costa-Hawkins Rental Housing Act, which currently limits rent control on certain types of housing, including single-family homes, condos, and buildings constructed after […]
The Federal Reserve’s Messaging Signals Possible Rate Cuts
The Federal Reserve’s Messaging Signals Possible Rate CutsOriginal Article By Arnie Aurellano, Scotsman Guide Inc. For those closely watching the Federal Reserve, Chair Jerome Powell’s recent statements provided a rare glimpse into potential policy changes. Speaking at an economic symposium hosted by the Federal Reserve Bank of Kansas City in Jackson Hole, Wyoming, Powell remarked, […]
How the Federal Reserve’s Decisions Impact the Housing Market
The Federal Reserve recently lowered interest rates in response to several economic factors. The primary reasons include the following: Economic Slowdown: The Fed observed signs of a slowing economy, including softer job market data and weaker consumer spending. By lowering interest rates, the Fed aims to stimulate economic activity by making borrowing cheaper for consumers […]
HELOC vs. Cash-Out Refinance: Making the Right Choice
HELOC vs. Cash-Out Refinance: Making the Right Choice for Your Financial Needs Taking out a home equity line of credit (HELOC) and a cash-out refinance are two ways to tap into your home’s equity, but they differ significantly in structure, costs, and usage. Here’s a detailed comparison of the two: Structure Home Equity Line of […]
Refinancing a Home in California
When do you know it’s time to refinance? Here are several reasons one might decide it’s time: Lower Interest Rates: Benefit: Reducing the interest rate on a mortgage can lower monthly payments and save thousands of dollars over the life of the loan.Example: If a homeowner originally took out a mortgage with a 7% interest […]
Home Improvement VS Capital Improvement
The distinction between regular home improvement and capital improvements is important for homeowners to understand, especially for financial planning, tax purposes, and property valueassessment. Here’s an explanation of each term and their differences: Regular Home Improvement Regular home improvements are repairs or upgrades that maintain or enhance the current condition and functionality of a home. […]
Steps to Buying Your First Home
How to Prepare as a First-Time Homebuyer Buying a home for the first time is a significant milestone and requires careful planning and preparation. Treasury Funds Home Loans, Inc. is here to help homebuyers every step of the way. Here are key steps a first-time homebuyer should take to ensure a smooth and successful home […]
Understanding VA Non Allowable Loan Fees
When you’re in the process of purchasing a home, closing costs can quickly accumulate. However, if you’re utilizing a VA loan for your home purchase, specific rules dictate which fees lenders can charge you. Fortunately, VA loans come with a list of non-allowable fees, helping you manage your closing costs effectively. Here’s a breakdown of […]
California Wages and Home Prices
Over the past two decades, wages and home prices in California have experienced notable shifts, leading to significant changes in affordability and housing market dynamics. Wage Growth Over the last two decades, California has seen some wage growth, but it hasn’t kept pace with the rapidly rising cost of living. While certain sectors, such as […]