When markets are normal, builders build. And that’s exactly what’s been going on lately. According to the California Building Industry Association, new housing starts are up year-to-date with 61,361 new single- and multi-family units. This uptick in building starts signifies a stabilized housing market. But is this as good as it gets? Is this the … [Read more...]
Is Your Mortgage Lender Qualified?
There are many people who go out hunting for the mortgage lender that implies the lowest costs when planning to purchase a home. The problem here is that they don’t ask the right questions, as they are more interested in hearing what the rate is instead of trying to determine if the lender is the right one for their needs. Here are a few tips that … [Read more...]
How To Shop For A Mortgage
Credit Check First, you should check your credit well before you begin hunting for a home, and work to increase your score if needed, or dispute errors on your report, since those can take time to rectify. You’re entitled to a free credit report from each of the three bureaus (Experian, Equifax and TransUnion) once a year. If there are errors, fix … [Read more...]
Home Buying Process in California
Patience and Preparation Buying a home in California can be an exciting, but intimidating process. If you are a first-time homebuyer, terms like mortgage insurance, counter offer and escrow can be enough to make you reconsider the upside of apartment living. However, with a little preparation you can glide through the steps of buying a home in … [Read more...]
FHA Expert Tips from Maureen Martin in San Diego, CA
You can obtain an FHA loan for the purchase of a multi-family unit, single-family residence, and condominiums. Restrictions vary by location, so ask your FHA-approved lender for additional information. To protect yourself from predatory lenders, work with FHA-approved lenders only. You can become a victim of loan fraud by giving your personal … [Read more...]
How to Qualify for an FHA Mortgage
The Federal Housing Administration (FHA) has a loan to help both low- and moderate-income families with purchasing housing. All FHA loans are federally backed, and FHA lenders have been approved by the federal government to service the loans. Requirements Make sure that you meet basic FHA loan requirements. You must be able to meet most, if not … [Read more...]
First Time Home Buyer in San Diego Tips & Advice
Check the selling prices of comparable homes in your area. Search Web sites to get a general idea of what you should expect to pay. You can also do a quick search of actual MLS listings in your area on a number of Web sites, including the site of the National Association of Realtors. What Can You Afford See what you can afford. Use a mortgage … [Read more...]
What Is the Best Mortgage Rate Available in San Diego?
You'll need to contact a lender to get your credit scores. You should share your credit scores with other lenders rather than letting each one you contact pull your credit history, because multiple inquiries could lower your scores. Be prepared to answer the following questions before a lender can provide an accurate mortgage rate quote: How … [Read more...]
5 Advantages of a Direct Lender
When you work with a direct mortgage lender, you apply with the same company who will be documenting, approving and funding your home loan. It’s a one-stop shop and it has some major advantages. Pros of Direct Lenders The benefits of working with a direct lender are many but two distinct advantages stand out: Competitive mortgage rates … [Read more...]
San Diego Hard Money Loans
Hard Money San Diego hard money loans are nonconforming loans, unlike the type of loans from conventional bank financing. They are funded by private individuals like us, and requirements vary from lender to lender, however most private hard money lenders are much more concerned with the collateral and equity protection, than credit scores. Rates … [Read more...]