Buying a Condo in Bay Area – It won’t be easy getting a mortgage!

A lot of surge in current real estate market in San Jose & rest of San Francisco Bay Area is being driven by First Time HomeBuyers. Some sources estimate that they now account for 50% of the market. A lot of First Time HomeBuyers end up buying condominiums since it fits into their budget. In this market of low property prices, you may be able to buy a condo for almost the same mortgage payment as the rent that you are paying. However, in last few months Fannie Mae & Freddie Mac have…
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