first time buyers: Sacramento home buyers - Getting a good interest rate locked in. - 09/10/10 01:59 AM
This is part 2 of the series for Sacramento home buyers, called, Loan Application -What do I need and how long will it take.
Knowing when the best time to lock in the interest rate is not an easy task. While there are indicators that affect interest rates, we cannot always be certain which way they will go from day to day.
As a general rule, a good economy will tend to drive interest rates up. A declining economy with increased unemployment and poor consumer confidence will bring lower interest rates.
Rates can change daily and even go … (0 comments)
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first time buyers: Loan Application - What do I need and how long will it take? - 09/05/10 06:43 PM
Buying your first home in Sacramento can be exciting and frustrating. But it doesn't have to be frustrating if we work together. Where do you begin?
When it's time to talk to a lender about getting a home loan, many first time home buyers are not sure where to begin. If you know what to expect, you can be well prepared, and save yourself from a lot of headaches along the way.
What documents are needed?
During the initial interview and loan application, I'll ask questions to see if there are any potential challenges that may need to be addressed during … (0 comments)
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first time buyers: Three habits that will help you buy your first home. - 09/05/10 01:17 AM
Here are three important tips to help you prepare for buying your first home.
When applying for a mortgage, lenders not only look at your credit score, but will also consider how you use your available credit.
Keep your credit card balances low. Try not to owe more than 30% of your allowable credit limit. For example, if your credit limit is $1000 then don't owe more than $300 on that card. Always pay more than the minimum payment and make payments on time. Act like you already own your home. Another tip to help you on your way to … (5 comments)
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first time buyers: Sacramento - buy or rent? - 08/31/10 06:09 PM
How do you decide if you want to buy or rent?
When you rent you can move around easily. There are no taxes or insurance costs or maintenace that go along with keeping a roof over your head. If you live in an area that is more expensive you may be able to afford to rent rather than purchase. It is also a great way to get a feel for the area. The greater Sacramento area is wide spread with many distinctive neighborhoods for a variety of tastes.
You might want to try out some of the surrounding towns like … (0 comments)
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first time buyers: Does it make more sense to rent? - 09/23/09 01:50 PM
Renting vs owning. Renting works fine for some people. In some areas rent prices have begun to come down. How does that effect the difference between the cost of home ownership over the cost of renting? I don't think there is one right or wrong answer when it comes to the question, "Is it better to rent or own a home?" There are pros and cons to both sides.
Owning a home is no longer a get rich quick type of investment. Home ownership allows a set price for a house payment. While the interest rates are lower than they … (4 comments)
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first time buyers: Don't put the house before the LOAN. - 04/29/08 09:26 PM
Does it really make a difference?
When an agent writes a purchase contract, one of the most important things included will be how much cash the buyer is going to put down, the type of financing and the terms of the loan. Is it going to be a 20% down payment with a 30 year fixed loan at 6% or is it going to be a 0% down (100% financing) VA loan? Do these loan terms make a difference to a seller? Is being pre-approved going to give you a better position than if you are pre-qualified? You betcha!
So, you want to … (0 comments)
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