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Four Misconceptions About California Buyer Assistance Programs

The Truth is Out There There are so many misconceptions about buyer assistance programs, not only  among first time buyers but more often among lenders. Yes, you read that right.  Lenders large and small are confused about buyer assistance. In many cases,  there isn't enough money in it for them so they try to do what's called a "bait and  switch." This means they lure you in with the promise of help, but instead lead  you into a more lucrative loan. As a direct...

Make Your Dollar Travel Further This Summer

Summer Vacations Are perfect for hitting the road and having an adventure or staying closer to home and simply recharging. The slower pace and rest a vacation offers are priceless, but that doesn’t mean you should relax your financial vigilance. Here are some ideas to help you get the most for your money as you travel this summer. Consider off-season tropical destinations During the winter months, tropical hot spots command top dollar. But if you’re not averse to hot and humid weather, there are bargains...

Five Financial Lessons to Pass on to Your Children

ABC's of Money One of the greatest lessons you can pass on to your children is teaching them how to budget, save and spend wisely. After all, being financially astute is very important to navigating through life. Grounding your children in some basic money values concepts is a good place to start. Consider using these five points as the basis for your conversation: 1. Money isn’t free – you have to earn it Many of us grew up with the saying, “money doesn’t grow on trees,”...

Summer Heat Has Interest Rates Rising?

2015 Rates Trending Higher The likelihood of interest rates rising in 2015 is incredibly high.  And last week, we saw interest rates do more of a "jump" than a "rise". Today, I want to show you that even though rates are trending high, it is still incredibly affordable to purchase in today's market. Rates are on an upswing, as evidenced by the perspective of where rates were previous to today, but compared to similar cycles in the past, we're still in pretty good shape. If you're...

Top 3 Biggest Mistakes Homebuyers Make

Save Yourself Time, money and sometimes your dream home could be at risk if one of these mistakes goes out of control. It still surprises me how many homebuyers are convinced to make offers, and go into escrow without addressing these key components of your financing approval. The most common result of making one of these mistakes is that your close of escrow can be delayed by days, or even weeks. In the most extreme of cases, making one of these mistakes can be a ticking time...

Veteran Home Loan Benefits to Remember

VA Home Loan Eligibility Every day should be a day to remember the sacrifices our Veterans have made for this Country. It still surprises me how many Veterans are unaware of the benefits available to them through their VA Guarantee home loan benefit. A Veteran is eligible for VA home loan benefits if he or she served on active duty in the Army, Navy, Air Force, Marine Corps, or Coast Guard after September 15, 1940, and was discharged under conditions other than dishonorable...

California Homebuyers Expect More Competition

Multiple Factors In any given real estate market, you have many influences that will push and pull the advantage to either the buyer, or the seller in the transaction. In a buyer's market, there are many more homes for sale than there are buyers in the market.  High inventory, and low demand drives down prices as sellers attempt to attract more attention. Buyers have more options to choose from, and can take their time making a decision as to which home will be your next...

3 Ways to Simplify Your Financial Life

Simpler is Better When life gets busy it’s easy to become more passive about managing your bank accounts and credit cards by letting receipts, bills and statements pile up. Even if you regularly keep up with your finances, it can be beneficial to take a fresh look at them. Simplify your financial life with these three strategies. 1. Go paperless It’s easier than ever to access financial documents online. Choosing paperless convenience will not only make your life more efficient and clutter-free, it’s also...

California Boomerang Buyer Guide

California Dreaming Buying a home after a significant financial hardship can seem like a distant dream, but it's not as distant as you might think. California homeowners experienced many challenging years of economic hardship from 2007 until late 2012. Some would argue that we're still not out of the woods yet. If you're reading this, chances are, you are one of the many thousands of homeowners that lost your home through foreclosure, short sale, or deed in lieu of foreclosure. A large number of you also experienced...

How Lenders Calculate Income

How Much Counts? Assuming you have good credit and assets to buy a home, the most important factor in qualifying for a home loan is your debt to income ratio. Your debt to income ratio, or DTI, determines how much home you qualify for, and it all hinges on how the lender calculates your income. What you have to be aware of, is that not all of your income can be used to qualify you for a home mortgage. This can be quite frustrating because...

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