Housing inventory remains very low in the Bay Area. Even though interest rates remain high due to inflationary fears from the Fed’s, the higher cost of financing isn’t slowing the market down.
In Santa Clara County, there are approximately 930 properties for sale (consisting of homes, town house and condos (as of July 2023)) with a median days on the
Mortgage / Real Estate Financing
What’s New in Real Estate?
It’s been an interesting last few weeks with Real Estate, the Stock Market and Interest Rates!
First…
With the debt ceiling deal in place (thank god), what’s in store for us a country? See what AP News wrote. Glad this got put into place as interest rates in just 2 weeks rose .5% and since last month Monday have…
Don’t Qualify for Conventional Loan or a Reverse Mortgage…Check out the New EQUITYAVAIL
Are your Mortgage Payments too High? Are your Debt’s Eating Away at Your Savings? Has the Stock Market Hurt your Portfolio?
Check out our New Reverse Hybrid Program…EQUITYAVAIL!
We have a new product that focuses on homeowners in CA, that are 55 years of age and above. If the homeowner is having financial challenges in affording their current home or lifestyle…
New Loan Program – 10% Down up to $2.2m in Price with No MI!
Yes…You heard right!
We now have a program that will allow a buyer with a mid fico score of 740 or higher to purchase a home up at $2.2m in price at just 10% down with no MI. In addition, we can underwrite these loans in-house at our office with a complete credit package to fully preapprove a client before…
California Housing Finance Agency (CalHFA): Zero Down Financing
Last week on Tuesday, California Housing Finance Agency (CalHFA) announced that they now have $300m to loan out to Home Buyers throughout California!
Why is this Important?
It’s Important for 3 Reasons:
- Zero Down Financing…Yes Zero Down!
- Loan Limits for high balance conforming are up to $1,089,000 or $1,361,250 in Price in CA!
- Income Limits in some areas like Santa
…
CalHFA Financing – Zero Down Financing
Last week on Tuesday, CalHFA announced that they now have $300m to loan out to Home Buyers throughout California!
Why is this Important?
It’s Important for 3 Reasons:
- Zero Down Financing…Yes Zero Down!
- Loan Limits for high balance conforming are up to $1,089,000 or $1,361,250 in Price in CA!
- Income Limits in some areas like Santa Clara County are up
…
Market Update – New Opportunities
Good Afternoon,
Last week, Mark Jamison, Senior Wealth Director of BNY Mellon in Menlo Park invited me to his office to listen to ACG present on the economy and what they believe will occur over the next 12 months. (To view the actual presentation, click here.)
In the panel, consisting of Senior Analyst from BNY, a VC, a…
The New Jumbo 2 to 1 Buydown…
I have a new loan product that helps developers sell more property in today’s high-rate market. It’s called 2 to 1 Jumbo Loan and no retail bank offers it.
The concept of this program works like this… Current jumbo rates are approximately 6%. The buydown (which is priced a tad higher than current market), allows the borrower or seller (builder…
Lower Interest Rates & Payments in this Market?
This is something relevant to the market that could help buyers and sellers in this competitive real estate space…
Lower Rates and Payments in this Market? How?
By Rob McCarthy – 101 Loan LLC dtd 10/26/2022
I recently wrote this article (https://101loan.com/blog/2-1-buy-down-to-lower-rate-and-payment/) on 2 to 1 buy downs (or 3 to 2 to 1 buy downs) where a…
Lower Interest Rates & Payments in this Market? How?
This is something relevant to the market that could help buyers and sellers in this competitive real estate space…
Lower Rates and Payments in this Market? How?
By Rob McCarthy – 101 Loan LLC dtd 10/26/2022
I recently wrote this article (https://101loan.com/blog/2-1-buy-down-to-lower-rate-and-payment/) on 2 to 1 buy downs (or 3 to 2 to 1 buy downs) where a…