willitsrealestate: Interest Rates Are Not The Same For Everyone
- 04/28/16 03:05 AM
Like every other mortgage lender, i get this typical phone call: "what is your interest rate?" What consumers do not understand, is that Interest Rates Are Not The Same For Everyone! There are like 30 data points that go into quoting an interest rate. In order for me to be able to configure a monthly payment, which is really what the consumer cares about, i must take a complete loan application and run a credit report and do an interview of the consumer. What they also don't understand is that "The lowest rate, isn't necessarily the best loan program for the consumer" That ought to get a … (2 comments)
willitsrealestate: USDA Rural Development is 100% Financing
- 03/31/16 12:57 AM
Looking for a way to get a borrower into housing that doesn't require a down payment? Other than VA financing, the only other loan program that doesnt require a down payment is USDA! For those who are not familiar with this lending program, the United States Department of Agriculture offers lending programs for those in rural areas to acquire real estate. This program is 100% financing! To be eligible for this loan program a borrower must meet income limits for the MSA and the property must be considered rural! In the area of the US that i work in, #Ukiah, California or … (0 comments)
willitsrealestate: Are You Pre-Qualified?
- 03/14/16 01:50 AM
Spring is almost here and it is one of the busiest times of the year in the real estate markets. As a potential home buyer, one of the first questions a good real estate agent will ask you is: "have you met with a lender? AND, what have you been pre-qualfied to purchase?" Showing property you cannot afford to purchase isnt going to be helpful in your agent helping you achieve your dream. It is easy to know what you can afford. There are many good lenders who can, in a matter of 20 minutes, review your credit and income and tell you … (0 comments)
willitsrealestate: Rents Continue To Rise
- 02/28/16 11:59 PM
If you look at the chart below, you will notice that rents continue to rise and isnt any reason this will stop! What can you do to lock in your housing cost? Become a home owner ! In many markets it has been cheaper to actually purchase a home than to rent a home. With home values continuing to rise, this is becoming less the norm, but still you can purchase, with your monthly payment not being much more than what you have been paying your landlord. When you factor in that mortgage interest and property taxes are a tax deduction, it may … (0 comments)
willitsrealestate: GSFA Grant Program for California
- 02/16/16 05:29 AM
Looking for a down payment assistance program that gives free money? The Golden State Finance Agency offers grants (it does not have to be paid back) for use for down payment. Grant amounts can range from 3%-5% of the sales price of the loan and interest rate will depend on the grant amount plus credit score. Today, February 16th, 2016, rates for a 4% grant with a 660+ credit score is 4.125% on an FHA loan. Assuming that FHA requires a 3.5% down payment, one could have their entire down payment requirement handled with the GSFA grant. In #Ukiah, California, it is very … (0 comments)
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