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I get this questions all the time, “What Are Closing Costs?” When you buy a house you have the purchase price cost and you have closing costs. The costs combined make up the total amount you will spend for the house. You may also have additional costs such as hiring various inspectors to inspect the… Read More
Within the last 10 or more years, VA Loans have become more profitable and have facilitated the purchase homes by veterans. In some cases, without the VA loan certain veterans would still be renters and not homeowners. Since 2007 VA and FHA Loans have gone main stream and are providing the financing of or financial… Read More
The Shasta County Down Payment Assistance Program (D.A.P.)has increased the maximum allowable income limits for home buyers. The Shasta County DAP is very similar to the City of Redding DAP program with the exception of the income requirements and the maximum purchase price. Both of these programs are designed to assist low income first time… Read More
If you would have asked me this question a week ago, I would have said no. Most landlords and property managers do not report your rental history to the credit bureaus unless you do not pay and they have to evict you. Last week I was working with a first time home buyer that had… Read More
For the 10th time in the last 11 weeks Freddie Mac reported a decline in fixed rate mortgages. The average interest on a 30 year fixed was 4.32% down from last weeks 4.36%. Economists credit the week economy and high unemployment rates. As separate report from Bankrate, which is based on data provided by the… Read More
Mortgage interest rates have fallen to their lowest level of the year. Economists say homebuyers have the financial turmoil in Europe to thank for that, as overseas investors have put their dollars instead towards what they see as safer U.S. securities.
Fannie Mae will only consider offers from buyers using public funds during the First Look marketing period, typically the first 15 days a property is listed.
Yesterday the State Franchise Tax Board announced a tax credit for new home purchases and first time buyers. The new credit will start May 1, 2010. Here is some general information. Tax credits are available for taxpayers who purchase a qualified principal residence on or after May 1, 2010, and before January 1, 2011. Additionally,… Read More
According to what I read on Bloomberg’s web site, the Federal Reserve has decided to keep key interest rates near zero for an extended period. The Federal Reserve also confirmed that it will stop buying mortgage backed securities at the end of March. So, what does this mean if you’re thinking of buying a house… Read More
