With so many homeowners underwater I hear daily about people “walking away” from their homes, as if it was such an easy decision to make. Maybe it is? With it becoming so commonplace these days maybe it is an easy decision to walk away from your home and mortgage when you owe more than [...]
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For some people it may get a little harder to get an FHA mortgage in the near future. Looking to shore up its weakened finances, the Federal Housing Administration has announced stricter standards. The FHA, who insured nearly a third of new mortgages in 2009, is going to increase the premium it charges for its [...] Mortgage giant and GSE (Government Sponsored Entity) Fannie Mae recently announced plans for a new program that will allow “regular” homebuyers to compete with all the cash investors out there currently buying a lot of the most affordable real estate in the Sacramento market. The new program, named “First Look”, makes it so that only [...] Doom and gloom no more Sacramento homeowners, for the first time in almost three years home prices in the Sacramento area (Sacramento & Placer Counties) are on the rise. Now, this isn’t to say things will get crazy again like earlier in the decade but it is giving us a really good idea that the [...] Why do we care in Roseville or Sacramento about FHA mortgages? The FHA (Federal Housing Administration) began in 1934 in an effort to encourage home ownership despite the difficult economic times of the era. This program enables consumers who may not qualify for a standard loan to obtain the financing they need to purchase a home [...] To achieve the $1,000,000 challenge I’ve put us up against, and help the community realize one million dollars in refundable tax credits, I’m looking for 5 Realtors each interested in working together to help 25 First Time Home Buyers become home owners and get that $8,000! Anyone interested please give me a call ASAP. We’ve [...] That’s right, starting today my goal is to raise ONE MILLION DOLLARS in tax credits for the community and have it done by November 30th! It’s a loft goal but one I’m going to reach for… How you ask? OK, I’ll tell you. My referral partners (Top Local Realtors, Financial Planners, CPAs, etc) and I [...] What do you think when I say “CHDAP”? Probably nothing and that’s totally normal if you’re not in the mortgage business (might even be normal if you are in the business but don’t pay attention). CHDAP used to be a way to get low and no down-payment loans… A super low rate simple interest second [...] Big news! As I mentioned last week this was a possibility and about the be a reality. The Federal Housing Administration (FHA) says first time home buyers can apply the new $8,000 tax credit toward the down payment of their home when obtaining the home with an FHA loan. For the median home price of homes [...] To measure the affordability of home-ownership the NAR uses their Affordability Index. This is the main source of this information in the industry. This index is calculated by dividing the lowest amount of income needed to make the monthly payments on a median U.S. home by the median income of an American household. As an [...] |
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