Well, not exactly, but CalHFA’s Mortgage Credit Certificate income increased yesterday to $57,840 for a Sacramento family of one or two people, and to $72,300 for families of three or more effective yesterday! How is this under 3.25%? Well on a $200,000 loan at 4.5%, the government actually pays $150 of the mortgage payment via a tax credit! That’s the equivalent of lowering [...]
Windmills and Mortgage Tax Credits?? If you’ve ever driven into the Silicone Valley from I-5 south of Stockton, you’ve driven over the Altamont Pass. It’s an interesting place where the Rolling Stones played a concert and hired the Hell’s Angles to act as security. It didn’t work out to well. Then in the late 1970s [...]
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!
This is an excellent program for eligible and qualified 1st time buyers (or buyers buying in the target areas) of the City of Sacramento and the unincorporated County of Sacramento.
The 2010 allocation just came out, and they have enough funding for $20 million worth of mortgages.