Move-up home buyers are in a commanding situation. Tight inventory has left them in a great position to sell their current home. Despite concerns that home values could drop, they have actually increased and are on track for gains of around 5-10% this year. Of course, low inventory is a double-edged sword. As soon as …
The Smart Move: Buying a House Before Selling Yours in a Tight Inventory Market Read More »
For as long as I can remember, FHA loans have played second fiddle to Conventional loans. Conventional loans offer lower mortgage insurance rates, mortgage insurance that gets removed, looser work history and documentation requirements, no funding fee, and less strict property conditions. Clients with solid credit (740+) got a better loan both in the short-term …
What is it? The California Dream for All Down Payment Assistance Program is a state-funded program designed to help prospective homebuyers with low to moderate income levels purchase a home by assisting with their down payment and closing costs. The program aims to increase homeownership opportunities for individuals and families needing more financial resources to …
Are you considering taking advantage of a temporary rate buydown to get a lower interest rate on your home loan? Be aware that this strategy can be risky for low-down payment borrowers. We’ll explain why and offer alternatives. Keep reading to learn more! What is it? A temporary rate buydown is a financing tool used …
Buying a home is a big decision and can often be daunting, especially for first-time homebuyers. One of the biggest challenges facing first-time buyers is coming up with a down payment, typically 20% of the home’s purchase price. However, options are available that require a lower down payment, such as down payment assistance (DPA) programs. …