Good morning to Summer,
What I see cross my desk speaks to a busy buying Season – strong sales and higher prices. Good properties are selling with multiple offers.
Affordability: Quite insightful: Wage increases are keeping pace with rising home prices and rates. Excellent news for Springtime Buyers and Sellers. San Jose, San Mateo and San Francisco all ekked out slightly better affordability numbers 2016 compared to 2015. Santa Cruz MSA edged tighter.
Loan Changes: 5 % down payments to $ 636,000 – all gift allowed. 10 % down payments to over 1.5 M. Down payments should not be the issue with the market. Appraisals being behind is another story.
For Home-Buyers: Slight easing of qualifications is expected – lower down payment, lower credit scores. Yet, if you are one who may become a potential buyer, please shop informed. There is a “real” need for careful guidance, expertise, and preparation. We are here to keep you – and your referrals – safe, secure, and lender smart.
2017 is filled with new optimism. Give us a call.
Let’s see you how you and your friends, fit into this changing market.
Let’s prepare today, for your brighter tomorrow.
Our Lending Tools – Your Living Success:
No-money down up to $ 3,000,000. Used to buy the next home before selling the current home. Using both properties. Works buying up and buying down.
No money down to $ 636,000 for Veterans. Purchase price over $ 636,000, then the Veterans buyers pay only 25 % down payment for the overage. i.e. $ 736,000 purchase price for $ 25,000 down payment.
5% down payment up to purchase price of $ 1,575,000.
3.5% down payment to purchase price of $ 645,000.
10% down payment to 2.775 M purchase price.
No money down for 1st time Home-Buyers with Grant programs – limited to $ 424,000 first loan amounts.
A new version of Stated Income – using bank statements. Filling the gap for those who Miss the tight lending guidelines.
Every one of our success stories begins in first pinpointing what buyers are seeking, then putting together viable options. Ones fit to you and your future. With this in hand, you are in a strong position to win the property. We love success.
Tools protecting you and securing the Lender’s investement in you.
There are four primary tools used by our lending partners to protect you, as you secure a loan: 1) Ability-to-pay, 2) Willingness-to-pay, 3) Life-style of choice, and 4) value of the loan in comparison to the value of the subject property. Together these help sharpen our focus as to what one can safely buy, while respecting lender concerns and questions. These are key to the success you seek and deserve. It is what we do best.
In Closing:
We truly appreciate your trusting us with the people you know, whether for buying or to refinance. With interest rates continuing far below their historical average (8%), now remains an excellent time to enjoy the full benefit and value of home ownership. And for those who want to own rental income properties, they continue to perform admirably, given the location.
A confident buyer, with a qualified agent focusing on buyer needs,
plus a proven mortgage broker, is the equation of a true success.
Call me. Let’s discover the success calling out to you, today.
If you are ready for success, we are ready to help. Call today.