9 Benefits of Home-Ownership

Home ownership is the greatest American Dream, is it not? Even in this era of record foreclosures, the percentage of U.S. households that now own, rather than rent, is an all time high. It’s not a surprise given several benefits of homeownership. Rent vs. Buy No Matter what you are currently paying for rent, your […]

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Fixed Rate vs Adjustable Rate Mortgage (ARM)

Whether you are buying a new home or planning to refinance, you may be asking the question – ARM vs Fixed mortgage rate – which one is better? When you are trying to make a decision on whether to take an Adjustable Rate Mortgage or a Fixed, you should consider two factors: How long you […]

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Documents needed for San Jose First-Time Home Buyer Mortgage Pre-Approval

As a San Jose First-Time Home Buyer you should get a mortgage pre-approval done before you start looking for a house. Pre-approval helps you in 3 ways: It lets you know how much mortgage you can qualify for. This will help you search for homes in the same price range It gives you an estimate […]

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San Jose Mortgage Rate Weekly Update

Weekly update on San Jose Mortgage Rates and economy news. The Week That Was: Freddie Mac in its Primary Mortgage Market Survey reported that 30-year fixed-rate mortgage averaged 4.97 percent with an average 0.7 point for the week ending March 4, 2010. Last year at this time, the 30-year FRM averaged 5.15 percent. The 5-year […]

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A Video on How Mortgage Interest Rates move?

If you watched the Mortgage Rates recently, it has been very volatile. Sometimes, going up and down several times a day. Have you ever wondered what makes mortgage rates go up and down? Watch this clip which explains the dynamic between bonds and mortgage rates – in simple terms. (Video created by Dustin Hughes and […]

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CalHFA Allocates $700 Million to Assist Homeowners

The California Housing Finance Agency (CalHFA) today announced that it will develop innovative initiatives to use nearly $700 million in new federal funding to help California’s neediest homeowners struggling with mortgages payments remain in their homes. In addition to California, the funds will support efforts in Arizona, Florida, Michigan and Nevada. All five states have […]

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San Jose Real Estate & Mortgage Rates Report 2/21/10

Your weekly dose of San Jose Mortgage Rates, Real Estate Trends and top Economy news. The week that was: Freddie Mac in its Primary Mortgage Market Survey reported that the 30-year fixed-rate mortgage (FRM) averaged 4.93 percent with an average 0.7 point for the week ending February 18, 2010. The 5-year adjustable-rate mortgage (ARM) averaged […]

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San Jose Mortgages Rates & Market Commentary 02/08/10

Your weekly dose of San Jose Mortgage Rates and Market Commentary. The Week That Was: Freddie Mac in its Primary Mortgage Market Survey reported that the 30-year fixed-rate mortgage averaged 5.01 percent with an average 0.7 point for the week ending February 4, 2010, up from last week when it averaged 4.98 percent. The 5-year […]

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Bay Area mortgage rates for 5 Year ARM sinks below 4%

The Mortgage Rates for a 5 Year adjustable rate mortgage (ARM) sank to 4% (and lower in some cases)* yesterday for Bay Area homes. Freddie Mac average rates released on yesterday reported 5 Year ARM at 4.27% at 0.6 points. But the rate improvements later in the day has opened up great opportunities for home […]

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New FHA Loan guidelines for San Jose Condominiums

Some major changes went into effect today for FHA loans on San Jose & rest of the Bay Area Condominiums. I. Elimination of Spot LoanĀ Approval Process If a condo project was not approved by FHA, a “spot approval” was allowed just for financing one unit. This process has been eliminated as of today. Now […]

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