Posts tagged as:

Down payment

Competitive Advantage: 21 Day Escrow Will Appeal to Sellers of Foreclosures

Can a 21 day escrow on your purchase offer give you a competitive advantage over other offers?
You Betcha! Sellers want to sell as soon as possible. You want a competitive advantage. This is the best of both worlds.
Typical escrow period listed on a purchase offer is 30 days from accepted contract. Most lenders will need [...]

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10 Things to Know About Getting a Mortgage in 2010

by Scott Schang December 21, 2009 Market Updates

Luke Mullins of US News & World Report wrote a really good article last week that I wanted to share with you.

Getting a Mortgage in 2010: 10 Things to Know
1. Still tight: The steep run-up in home prices during the first half of the decade was fueled in large part by breezy lending standards. Some [...]

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Are tightening FHA Underwriting Guidelines going to make it harder to buy?

by Scott Schang December 2, 2009 Loan Programs

FHA is experiencing a whole new set of challenges as the number of Governement Insured loans rises from only 3% in 2006 to almost 30% of purchases and 20% of refinances in today’s market.
It’s been reported for a couple of months now that FHA’s reserves have dipped below the two percent level, to 0.53 percent [...]

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CalPERS Pension Mismanagement and Fraud – Will it affect Home Buyers?

by Scott Schang December 1, 2009 Loan Programs

CalPERS has been in the news quite a bit lately, and not much of it is flattering. They say all news is good news? Not if your your pension fund management is corrupt and wrought with fraudulent activity.
Some of the more recent headlines talk about these challenges:
CalPERS investigates oversight of two outside hedge fund advisors [...]

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Slide Show: UPDATED – A Complete Guide to the CalPERS Home Loan Benefit

by Scott Schang November 16, 2009 Down Payment Help

The California Public Employees Retirement System offers a special home purchase loan benefit to it’s members.
This presentation outlines the benefits and details of this special benefit that features a down payment assistance program that allows up to 102% total financing.
The CalPERS loan can also be used with the CalHFA CHDAP closing cost and down payment [...]

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City of South San Francisco First Time Home Buyer Program

by Scott Schang October 28, 2009 Down Payment Help

First Time Homebuyer Program
The City of South San Francisco has a first time homebuyer program open to individuals and households who live or work in the City of South San Francisco. The program will provide qualified buyers a low-interest loan of up to $100,000 to purchase a BMR Home. Please note that funds for this program are [...]