Introducing MyCommunity

This is a different kind of conventional loan. With a low down payment requirement that can include gift funds, seller contributions and community seconds, this loan may be the perfect choice to help you buy the home of your dreams! MyCommunity is a different kind of Conventional Loan With only a 3% down payment required, Up to 100% of the down payment can come …

What To Expect When You’re Buying Your First Home

Expect to look at more than a few houses. It can take a while to find the perfect one. Expect to provide documents. It may feel a little overwhelming, but we only ask for what we need. Expect it to take some time. There are moments when it seems like nothing is happening, but that’s when we are busy putting …

MyHome Down Payment Assistance

Have you heard about MyHome? MyHome is a downpayment assistance program through CalHFA Qualified first time buyers can get up to 5% in down payment and/or closing cost assistance With low interest rates and deferred payments, MyHome can be combined with any CalHFA 1st mortgage, including CalPLUS w/ ZIP Contact us to find out how MyHome can help you buy …

What’s the Difference Between Interest Rate and APR?

Interest Rate is the percentage used to calculate your payment Annual Percentage Rate (or APR) is the TOTAL cost of the loan expressed as a percentage It’s what the interest rate would be IF it included things like origination fees, mortgage insurance premiums, settlement fees and “points” Although it doesn’t affect your monthly payments, APR can be useful as a …

Title Insurance: Understand It and Save Money

When purchasing a home, many buyers expend considerable time and effort in lining up the most cost-effective mortgage financing plan. But they don’t take steps to minimize their closing costs particularly in one of the most expensive areas, being title insurance. In fact, title insurance is something of a mystery for many consumers. In most cases when buying a home, …

Predatory Mortgage Lending: Problem and Solution

An increasing number of complaints are coming from homeowners who have succumbed to pressure from mortgage brokers and lenders to refinance their property or take out large equity loans. Many of today’s refinancing transactions are definitely justified. In certain situations it can save the consumer a substantial sum of over the term of the loan. But in too many cases, …

InterestFirst Mortgage Loan

A new type of home mortgage loan makes it possible for more persons with “marginal” qualifications and income to finance a home purchase. It’s an interest-only loan, at least for the first 15 of its 30-year term. The loan, now approved by Fannie Mae (the nation’s largest buyer of existing mortgages), allows borrowers to pay interest-only for monthly payments for …

The Evolving Mortgage Market

A new era is dawning in the mortgage industry. First, the use of credit scores by lenders in determining whether or not to grant a loan to an applicant is now commonplace. It’s also used to structure the terms offered in the loan. Up to this point, those scores were kept as a secret to most consumers – the persons …

Controlling Energy Costs to Protect Home

This is a particularly appropriate time to take strategic steps to save energy costs in homes. Real estate brokers and mortgage lenders should advise clients on ways they can help control those cost. Energy sources are rising in cost dramatically in most areas this winter, and to maintain a family’s financial ability to keep making mortgage payments and handling other …

Youthful Home Buyers and Mortgage Borrowers Strong in Today’s Market

Surprisingly, young people with limited incomes continue to comprise the largest segment of entry-level homebuyers in the country. About 52 percent of these buyers are between the ages of 25 and 34, and an additional 11 percent are under the age of 25. Considering the continuing increase of home prices in most markets, this is an amazing statistic. It shows …