Benefits and Drawbacks of a short sale on a California Home

There are many benefits to a Short Sale versus a Foreclosure for a California homeowner, but there also many drawbacks to a short sale that need to be considered before deciding on the best course of action. A short sale is a great option for California┬áhome owners who need to sell their home and owe […]

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Looking for a reason to Refinance – How about the lowest rates in 40 years!!

CNBC and Bankrate.com just reported that home loan rates are at their all time lows. Yes, all time lows! This is great news for anyone who has yet to refinance to take advantage of the lowest rates ever recorded, or to purchase that new home or investment property more affordably than ever before. Both 30 […]

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Short Sale vs. Foreclosure – What you need to know to make an informed decision

Whether you should do a short sale or let the home go to foreclosure depends on several factors. While for some homeowners, it is easier to throw up your hands and let the bank take your home, that might not be the wisest thing to do. Short Sale Benefits Here are a few benefits for […]

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Fannie & Freddie make it difficult to qualify for ARM and Interest only loans

Fannie Mae and Freddie Mac are making the following changes to interest-only and 3/1 and 5/1 ARM Loan Programs. These changes go into effect immediately. Interest Only Product Changes Interest only transactions are no longer available for Cash-out refinances, Investment properties and 2 to 4 unit properties. Interest only loans are still eligible on following […]

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Resources for FHA Approval Process for San Jose Condominiums

FHA recently announced additional resources for condominium approval process for San Jose and rest of the country condos. All condominium inquiries, telephone and email, must be submitted to the FHA Resource Center at:(800) 225-5342 or by email at: info@fhaoutreach.com The FHA Resource Center will provide responses to general inquiries received from consumers and industry partners. […]

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FHA 203K Rehab loans for San Jose Homes

Have you found that almost perfect San Jose home in the right location that is selling at a reduced price because it needs a little rehab work? Unfortunately, most mortgage loan programs require homes “in need of work” to be complete before the financing can be secured for the purchase transaction. Whether the property needs […]

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What’s keeping San Jose Mortgage Rates REALLY low?

Last week mortgage rates for San Jose homes eased back to the lowest level of the year. According to Freddie Mac’s Primary Mortgage Market Survey 30-year fixed-rate mortgage (FRM) averaged 4.84 percent with an average 0.7 point for the week ending May 20, 2010, down from last week when it averaged 4.93 percent. The 5-year […]

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San Jose Mortgage Rate and Market Commentary

San Jose Mortgage Rate (30 Year Fixed and 5 Year ARM) and Market Commentary for the week of May 3rd, 2010. The week that was: Freddie Mac in its Primary Mortgage Market Survey reported that 30-year fixed-rate mortgage averaged 5.06 percent with an average 0.7 point for the week ending April 29, 2010, down slightly […]

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Who pays for what in a Santa Clara County Home Purchase

Whether you are buying or selling a home in Santa Clara County, you should be aware of what fees is paid by which party. Note that the fees I have listed below vary by county to county and is negotiable by contract. These are not an all inclusive list, but I have tried to include […]

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San Jose Mortgage Rate & Market Commentary

San Jose Mortgage Rate & Market commentary. Check out how the 30 year fixed mortgage rate and 5 year ARM rates did last week and how they are expected to fare this week. The week that was: Last week Freddie Mac in its Primary Mortgage Market Survey reported the 30-year fixed-rate mortgage averaged 5.07 percent […]

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