Sunday, August 1, 2010

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First Time Home Buyer

$10,000 California First Time Home Buyer and New Home Tax Credit Will Be Extended May 1, 2010

by Jonas Kruckeberg March 23, 2010

California Legislature has passed Governor Arnold Schwarzenegger’s proposal (AB 183) to extend the $10,000 first time home buyer tax credit starting May 1, 2010 until December 31, 2010. He is expected to sign the bill soon.
The previous California tax credit limited to a total of $100 million for new home purchases only was exhausted [...]

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Down Payment and Source of Funds for California FHA Home Buyers

by Jonas Kruckeberg October 30, 2009

Today, most California First-Time Home Buyers choose FHA Mortgages due to the low down payment (3.5%) that is required.
This can be a little confusing for borrowers looking at foreclosure properties that have a significant amount of perceived equity, but the FHA clearly defines that the minimum down payment on a purchase transaction is 3.5% of [...]

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Approval and Funding Process – CA Mortgage

by Jonas Kruckeberg October 26, 2009

While the approval and funding process of a new California purchase mortgage has several moving parts, this article should help you put the basic time line in perspective.
1.  Loan Application –
This is where the loan officer spends a little time over the phone or at the office with a potential borrower discussing their lending scenario, [...]

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California Mortgage – How Much Can I Borrow?

by Jonas Kruckeberg October 24, 2009

How Much Can You Borrow?
How do banks decide how much money to lend you in California? They base their decision on their estimate of your ability to repay the loan.
To make this estimate, they look at your income, your available cash, your debt, your credit history and your Loan To Value.
Riverside County’s updated lending limits [...]

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Getting Started with a California First Time Home Buyer Mortgage

by Jonas Kruckeberg October 20, 2009

As an FHA licensed California mortgage company, we are privileged to offer our First-Time Home Buyer community with FHA programs that  provide the American Dream of home ownership.
With flexible credit history guidelines, low down payment requirements, competitive mortgage interest rates, and common sense underwriting practices, FHA mortgage loans are designed to meet the needs of [...]

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