100 financing: California First Time Buyer Grants - Part II
- 03/06/08 01:43 AM
This is part two of yesterday's post. I didn't announce that yesterday was Part I. I just thought I'd let it happen. Nothing gets by the watchful eye of Super Sharp Real Estate Agent, Susan Goulding! She called me on why the list stopped at M. Could that be because she works in Tracy? Susan who really knows Tracy, passed along this tip: "FYI - Tracy has a $75,000 downpayment assistance program for low to moderate income earners. Property must be in the City's Redevelopment Zone -- 3% simple interest for 30 years as long as … (1 comments)
100 financing: California First Time Buyer Grants
- 03/05/08 10:39 AM
California First Time Buyer Grants I'm not sure if these are accurate or currently available but one of my loan officer friend sent this list and I thought I would pass it along. Some of these might be grants, some might be loans, and some might be old and obsolete. I know, if I am working on a loan for a first time buyer, as a loan officer I always check and see if there are applicable programs available and if so what factors that program has. Sometimes it works out well - other times my clients are glad I … (1 comments)
100 financing: Is your neighborhood in Decline?
- 01/02/08 05:33 AM
Chances are that if it's in CA or FL, Fannie Mae has deemed your entire county as being in a Declining Market. On December 5th. the large GSE sent a memo to all it's Lenders suggesting that they reduce the maximum loan amounts for the counties mentioned by 5%. This new policy was slowly adopted by almost every lender. One by one they all fell in line. The bad news is that Fannie looked at the state of CA in a county by county basis. This is a gross macro view. Within each county there are areas that are harder … (5 comments)
100 financing: Granny Dumping 2.0
- 11/05/07 03:48 AM
This isn't about Social Security. It isn't about Medicare. It isn't about the Graying of America. It's about a torpedo that's coming towards us. It's silent, it's fully armed, and it's not on the radar. But it will be very soon. This is not a single family home. It's an Assisted Care Facility cleverly disguised as a single family home. You've seen them in your neighborhood too. You won't find a sign out front. It's a "stealth operation". These homes are staffed by professionals and regulated by health officials. They are owned by local "Investors" and not by large corporations. For the residents it offers … (39 comments)
100 financing: The Best Down Payment Assistance Program in California?
- 09/10/07 04:33 AM
I recently wrote about perhaps"The Best First Time Buyer Program in California". It's just one of the 100% financing options I have in the toolbox. Amazingly this was the first that many agents had heard of it. I received calls from Agents and Buyers, and even other Loan Officers inquiring about the program. In that article I briefly touched on a particular Down Payment Assistance Program. Surprisingly, this too garnered a bit of attention, so I thought I'd devote a similar post on what might be "The Best Down Payment Assistance Program in California". With 100% programs disappearing off the Lender's shelves … (4 comments)
100 financing: The Best First Time Buyer Program in California - for Short Sales?
- 09/05/07 11:47 AM
Here's an interesting twist. Yesterday I wrote about what might very well be the very best First Time Buyers Program in California. I got a call almost immediately from a reader who was a first time buyer and was looking at buying a short sale property in bay area. Buying a short sale is an exercise in patience. From the Listing Agent's perspective it's often an exercise in frustration. Once the offer is made, the numbers are submitted to the Lender and everyone waits for them to accept or deny. This often takes a considerable amount of time. The buyer … (20 comments)
100 financing: The Best First Time Buyer Program in California?
- 09/04/07 11:31 AM
The Best First Time Buyer Program in California How would you like to buy a $670,000 home here in California as a First Time Homebuyer? Low Credit Score? Nothing Down? Not much in the bank account? At a Great Rate? Is that too much to ask for? Impossible you say? I don't think so. This program is just for you. How does 100% financing sound? Can we cover all your closing costs too? How about if this was also backed by a secure government agency? That sounds contradictory to everything you are hearing in the news doesn't it? … (13 comments)
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