first time home buyer tips: My life as a number: importance of Credit Score for 1st time buyers
- 03/28/12 09:15 AM
Your credit score or commonly known as FICO score (stands for Fair, Issac and Company) is a number that indicates the health of yours score. The higher the number, the healthier your credit and the more likely a lender is to approve a loan with good terms. Scores can range from 300 to over 900, with typical score
falling in the 600s to 700s.
Credit score take 5 different financial areas into account. The five C’s of credit that lenders will look at include: Capacity. Are you able to repay the debt? The lender verifies … (0 comments)
first time home buyer tips: My life as a number: importance of Credit for 1st time buyers
- 03/28/12 09:00 AM
Credit is an important part of buying a home. Lenders will scrutinize your credit history to determine if you're qualified to buy a home and what interest rates and fees to charge. The difference between having a just okay credit and good credit can cost you tens of thousands of dollars over the life of a loan. Here are some practical tips to establish good credit:
*Having a steady source of income and stable employment for 2-3 years
*Having a good record of paying your bills on time - the common myth is that paying off balance monthly gives … (2 comments)
first time home buyer tips: First Time Buyer San Jose CA FAQ Series: What are closing costs?
- 02/22/12 07:45 AM
Many first time home buyers in San Jose CA may or may not realize that there are closing costs associated with each real estate transaction. Closing costs vary by county and are generally dictated by the local customary rules. For instance, in Santa Clara County, it's generally a seller-paid county; whereas in Alameda County, it's a buyer-paid county. However, there are still some costs to buyers if you're buying in Santa Clara County. Generally speaking, the rule of thumb is to estimate for about 3% of the sales price to go toward closing costs. In another words, if you plan to … (0 comments)
first time home buyer tips: First Time Home Buyer FAQ Series: How do I Pick the Right Agent to Represent me?
- 02/15/12 07:08 AM
When I first started out in the business, I was primarily a buyer's agent, and in some ways, it was a default choice. It was the way to learn the business. Fast forward to today, I still enjoy working with buyers, except it is a conscious decision since early 2011 that I work primarily with first time home buyers in San Jose. There are number of reasons for this, but mainly, I just love the smiles when the first time buyers purchase their first home. I'm grateful and honored to be part of that process. In today's more competitive San Jose … (2 comments)
first time home buyer tips: Is it a good time to buy a home in San Jose, CA?
- 06/15/11 03:12 PM
"Is it a good time to buy a home in San Jose, CA"? This is the million dollar question that prospective buyers ask me few times a week. Surprisingly, there are still folks out there thinking the home prices will drop significantly more, alluding to the media's concept of the 'double dip recession'. To that end, I have few things to share that might get you off the fence about buying/selling homes in the San Jose/South Bay Area: 1. Housing market 'statistics': the local newspaper usually paints a grim pictures of how much the price has dropped. I continue to educate … (1 comments)
first time home buyer tips: Santa Clara County's Conforming Loan Limits Expiring Soon - It May Cost You!
- 06/08/11 09:58 AM
April's housing statistics shows that Santa Clara County's average home price is $794,823. In many people's mind, this may not spell 'affordability'; however, with the historical low interest rates and prices, you can get value if entering the housing market has been on your mind. This is especially true as Santa Clara County's Conforming Loan Limit is scheduled to expire soon. This means it may negatively affect your purchasing power.
Conforming loan is a home mortgage loan that conforms to GSE (Government Sponsored Enterprise) guidelines such as Fannie Mae and Freddie Mac. The limit was $417,000. The Housing and Economic … (0 comments)
first time home buyer tips: 1/2% down payment to buy home in San Jose CA
- 06/01/11 12:34 PM
Did you now that it is possible to put down as little as ½% as down payment to buy a home in San Jose, CA? In today’s market, with a historical low on both interest rates and home prices, many first time buyers are considering to enter the housing market to take advantage of this great opportunity. However, most buyers are not aware of the CHDAP program in California that may help them to qualify to buy with as little as ½% of the down payment to buy a home in San Jose, CA. CHDAP (California Homebuyer’s Down Payment Assistance Program) … (2 comments)
first time home buyer tips: 3 tips on "How Much to Offer on a Home" in San Jose, CA
- 04/27/11 10:32 AM
For many buyers, especially, the first time buyers, the decision to write an offer is a critical moment, and usually the question is "well, how much do we offer"? From a buyer's perspective, there can seem like tons of factors to consider ranging from interest rates, supply & demand of the housing market, and the economy so it is not uncommon for a buyer to get confused and feeling like she needs a run a spreadsheet to determine the best offer! To help with buyers, there are actually few simple steps to take that will help making the decision making process … (0 comments)
first time home buyer tips: What is the homebuying process in the SF Bay Area California?
- 01/27/11 10:01 AM
FAQ: What is the homebuying process in the SF Bay Area California? The benefit of working with a real estate professional is that she will be able to guide you through the entire home buying process, and provide guidance and consultation as needed. Here is an overview: Step 1: Initial Consultation, determining your needs and priorities This is an important step to provide valuable information to perspective first time home buyers. Typically, at this first session, I answer any questions/concerns the buyers may have, and additionally I go over the 'what is the market doing' information to help buyers to be … (0 comments)
first time home buyer tips: Who is a buyer's agent in California?
- 01/27/11 06:41 AM
FAQ's: Who is a buyer's agent and who pays for them? One of the 'pink elephant in the room' questions when I meet with prospective first time home buyers is "so we want to work with you, but, how much do you charge for your service?" In fact, I know this is one of their concerns while we're going over other topics of discussion, and I usually ask them if they know what is a buyer's agent and how she is compensated. 8 out of 10 times, perspective clients know some kind of answer to those questions. When real estate professionals … (3 comments)
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Chia Rodeski
Real Estate Agent San Jose, 1st time home buyer,...
Your credit score or commonly known as FICO score (stands for Fair, Issac and Company) is a number that indicates the health of yours score. The higher the number, the healthier your credit and the more likely a lender is to approve a loan with good terms. Scores can range from 300 to over 900, with typical score 
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