When San Francisco home buying doesn’t go as smoothly as you had hoped, it is easy to let your emotions take over. For your own sake and for the sake of that beautiful Noe Valley condo you are about to buy, don’t! Always ask yourself, “What is my option?” because there are always options. Let’s pretend the lender takes longer than agreed upon to get your loan approved. He keeps asking you for more and more documentation until it feels like he also needs to … [Read more...]
6 Ways to Beat the Stress of San Francisco Home Buying Part 5: What is Your Option?
Filed Under: Home Buying, San Francisco Real Estate
6 Ways to Beat the Stress of San Francisco Home Buying Part 4: Get Knowledge
There is no doubt that you are likely to feel out of control during some parts of the home buying process. In a city like San Francisco, where demand is high and good property is scarce, buying a home is going to test your limits. It may feel like everyone else has taken over your life. The seller, your lender, the appraiser, the inspectors… They all have the power to say “yes” or “no” to your moving plans. A good real estate consultant will do their best to let … [Read more...]
Filed Under: Home Buying, San Francisco Real Estate
February 14, 2008 by the collective
Lower mortgage rates available under new economic stimulus law
Hot off the press from one of our preferred mortgage consultants, Monica Di Perna: The recently approved economic stimulus law allows people with mortgages over $417,000 and under $729,000 to take advantage of temporarily lower interest rates. Normally, a loan amount of $417,000 or under gets the lowest rates. However, as a way to stimulate the economy, the government is raising the limit to $729,000. This means that you may qualify for a better interest rate! However, in exchange … [Read more...]
Lower mortgage rates available under new economic stimulus law
Hot off the press from one of our preferred mortgage consultants, Monica Di Perna: The recently approved economic stimulus law allows people with mortgages over $417,000 and under $729,000 to take advantage of temporarily lower interest rates. Normally, a loan amount of $417,000 or under gets the lowest rates. However, as a way to stimulate the economy, the government is raising the limit to $729,000. This means that you may qualify for a better interest … [Read more...]
Fun Facts about California Home Ownership
Did you know…? Over the long-run, the median home price of an existing single-family home in California has increased about 9 percent a year since 1969, according to the CALIFORNIA ASSOCIATION OF REALTORS®. The Mortgage Bankers Association in Washington said Wednesday that its index of total mortgage applications rose 3 percent last week to its highest level since March 2004, and applications were up 73 percent from a year earlier. This could be a sign that potential buyers … [Read more...]
TIC loan record:Spotless
Concerned about the risks involved with TIC financing? Not to fear! Apparently, the record is excellent. I’d say this is because the fractional TIC loan lenders have always maintained strict lending guidelines, i.e. great credit, solid savings, and a stable job! No, sub prime here! Of course, you pay more for these loans but for a TIC buyer, they can offer safety & security as you are no longer tied to another person through the group loan. If you own a multi-unit building, … [Read more...]
What Fed cuts really mean for mortgages
Brought to you by Inman News… Commentary: Average rates on mortgages unchanged in recent surveys By Lou Barnes Inman News Contrary to the conviction of deeply confused civilians and reports by lazy news media, mortgage rates are unchanged, about 5.75 percent for the lowest-fee 30-year paper. If you don’t believe me, visit www.freddiemac.com and its weekly survey. It is unbiased by sales jive, although it suffers from “survey lag” (early-week data released on … [Read more...]
