mortgages: Are 0% Down Mortgage Options Available
- 01/31/19 02:48 PM
Are 0% Down Mortgage Options Available? There are multiple mortgage programs that offer homebuyers the opportunity to purchase a home with 0% down. Not only do USDA programs offer this but so do VA, CalHFA, & Chenoa programs. A brief explanation of these programs follows: USDAThe USDA Guaranteed Loan program is a Federal program offered through the United States Department of Agriculture. Most people wouldn't think of the Cochaella Valley as rural but there are several areas in the valley that still fall within the guidelines. Thousand Palms, Mecca, Desert Hot Springs and some areas of Thermal are considered to be rural for this program. Benefits of this program … (2 comments)
mortgages: Which Down Payment Strategy is Right for You?
- 06/29/18 04:30 PM
Which Down Payment Strategy is Right for You? You’ve most likely heard the rule: Save for a 20-percent down payment before you buy a home. The logic behind saving 20 percent is solid, as it shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders. But there can actually be financial benefits to putting down a small down payment—as low as three percent—rather than parting with so much cash up front, even if you have the money available. THE DOWNSIDE The downsides of a small down payment are pretty well known. … (2 comments)
mortgages: 3 Ways to Lower your Mortgage Payment
- 08/22/17 02:17 PM
3 Ways to Lower your Mortgage Payment Have you been considering refinancing your mortgage? Or trying to figure out how you can lower your monthly mortgage payment? With interest rates remaining historically low and home values on an uphill swing, a perfect combination has been created for homeowners to refinance. Let me tell you why now more than ever before may be the best time to refinance your existing mortgage. Lower Your Private Mortgage Insurance First off, if you currently have a FHA mortgage loan, you are paying PMI every month. While PMI rates rarely change, it was last changed in 2015 when the Federal Housing Administration lowered the … (0 comments)
mortgages: 5 Traits of People with Excellent Credit Scores
- 09/12/16 10:41 AM
5 Traits of People with Excellent Credit Scores If you have a FICO score of 785 or higher, congratulations! You are among the small group of people who are dedicated to making sure their credit stays strong and healthy in order to maintain excellent credit status. If your not a 785, don't despair but before you finance a home do these 4 things. Here are a five recommendations to help keep you on track: Don't Miss Payments Avoiding late or missed payments will have a positive affect on your credit score. According to Experian, 96 percent of people with excellent credit have never missed a payment at all! If you do miss a … (3 comments)
mortgages: Why Are Reverse Mortgages Gaining Popularity?
- 04/11/16 04:47 AM
Why Are Reverse Mortgages Gaining Popularity?Most people refer to the state of California as the Golden State but is that really the reality? The truth is California's population increase has slowly been declining over the years to less than 1 percent growth per year. With the decline in growth, the number of people aged 65 or older will be substantial as fewer young people make up the population. Those 65 or older already account for a large percentage of California's population and this number is expected to double over the next 15 years according to the Public Policy Institue of California. Seniors will rise from 12 percent of the current population to … (3 comments)
mortgages: To Rent or Buy - And Which is Better?
- 03/25/16 06:59 AM
Rents in Indio and the entire Coachella Valley area are very high right now. Great for investors, not so great for tenants. Potential home buyers may not even realize they may be paying the same in rent (OR MORE) than if they were paying down their own mortgage. It's best to buy while home prices and interest rates are still on the lower end of the scale. Home prices and mortgage rates will not stay low forever. If you are on the fence, read this and then call us to get pre-approved. At some point in our lives we are faced with this … (2 comments)
mortgages: 30 Year Fixed Mortgage Rate Falls Below Previous 2014 Low
- 09/02/14 05:09 AM
30 Year Fixed Mortgage Rate Falls Below Previous 2014 Low Fixed mortgage rates dropped to the lowest point in 2014 last week. Mortgage rates fluctuate daily but overall have remained competively low for the majority of 2014. With a recovering real estate market, it's important the cost of financing remains low, especially for first time buyers. Freddie Mac released new mortgage rate figures based on its Primary Mortgage Market Survey. Mortgage rates are still extremely low which is essential for many home buyers in Indio, California. With home values rising, home affordability will again become a major issue for a lot of home buyers in the Coachella Valley. 30 Year Fixed-Rate Mortgage Averaged 4.10% for the week ending Aug. 21, 2014. Fell … (5 comments)
mortgages: What Happens When a Property Doesn't Appraise?
- 05/07/14 03:24 AM
What Happens When a Property Doesn't Appraise?With an upward moving market and sale prices rising, who determines the value of a home? Is it the seller? The buyer? The Realtor? If a buyer is willing to pay the price, the value must exist, right? Not always! With home prices on the rise, we had to take a recent home buyer outside of his desired boundaries in order to find him a home within his desired budget. By doing so we did find him a top of the line home with good square footage and a custom pool with its own heating and cooling system! The home is decked out to the nines. Unfortunately … (1 comments)
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Ron Saporito, Palm Desert, CA Real Estate & Mortgage Broker Since 2003
Are 0% Down Mortgage Options Available?
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