The $500 Home Down Payment is BACK!

Wow! This was quite the week for Home Lending in California First the good news:  CalHFA (the California Housing Finance Agency) announced today that they are eliminating their requirement that borrowers need a 1% cash investment into the transaction – and the requirement that it be from the borrower’s own funds. What this means is [...]

By |2014-08-28T00:29:54-08:00March 3rd, 2012|First Time Home Buyer Assistance, Popular Topics|Comments Off on The $500 Home Down Payment is BACK!

What does getting “Prequalified” mean?

There is nothing worse than loosing out on a home because you could not provide a strong pre-approval letter. Listing agents are starting to demand not only strong pre-approval letters that specifically mention what steps the lender has taken, but proof of funds and even Fannie Mae approval printouts!

By |2010-05-27T12:33:49-08:00May 27th, 2010|Loan Talk|Comments Off on What does getting “Prequalified” mean?

So what’s left for the buyer who is short on cash?

You would have to be living in a cave to not notice that the mortgage industry is in turmoil.  At lease that’s what it seems if you read the papers or watch the news.  If you didn’t know better you would be under the impression that it’s almost impossible to get financing for a home, [...]

By |2010-01-07T11:06:18-08:00January 7th, 2010|First Time Home Buyer Assistance, Loan Talk|Comments Off on So what’s left for the buyer who is short on cash?

CHDAP’s BACK! Downpayment assistance in California

  WHAT IS IT? The California Homebuyer’s Downpayment Assistance Program (CHDAP) provides a deferred-payment junior loan – up to 3% of the purchase price, or appraised value, whichever is less – to qualified borrowers to be used for their down payment or closing costs.  Specifically qualified and eligible – you must meet a moderate income [...]

By |2010-01-07T09:56:44-08:00January 7th, 2010|First Time Home Buyer Assistance|Comments Off on CHDAP’s BACK! Downpayment assistance in California
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