Sunday, February 5, 2012
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California FHA Streamline Refinance Without Appraisal Guideline Update 2010

California FHA Streamline Refinance guidelines received a boost recently, a boost in the right direction… [more]

California FHA Streamline Refinance Without Appraisal Guideline Update 2010 California FHA Streamline Refinance Without Appraisal Guideline Update 2010

Allocation Update for California First Time Home Buyer Credit

Allocation for the First Time Home Buyer Tax Credit is being eaten up.

Allocation Update for California First Time Home Buyer Credit Allocation Update for California First Time Home Buyer Credit

Down Payment and Source of Funds for California FHA Home Buyers

Today, most California First-Time Home Buyers choose FHA Mortgages due to the low down payment (3.5%)… [more]

Down Payment and Source of Funds for California FHA Home Buyers Down Payment and Source of Funds for California FHA Home Buyers

Horse Property For Sale in Temecula

Horse Lovers Private Paradise! Amazing single story wine country home w/ top of the line horse facilities,… [more]

Horse Property For Sale in Temecula Horse Property For Sale in Temecula

How To Reserve Your California Tax Credit on a New Home

Reserving your tax credit on a new home in California has some specific criteria that you must follow… [more]

How To Reserve Your California Tax Credit on a New Home How To Reserve Your California Tax Credit on a New Home

Where Does My Earnest Money Go?

by Jonas Kruckeberg March 28, 2010

Hey, I gave my real estate agent a $5000 Earnest Money Deposit check… Where does that money go?
A basic and very obvious question that most First-Time home Buyers ask once their purchase contract gets accepted.
According to Wikipedia:

Earnest Money – an earnest payment (sometimes called earnest money or simply earnest, or alternatively a good-faith deposit) [...]

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Renting vs Buying A Home

by Jonas Kruckeberg March 28, 2010

Buying a home versus renting is a big decision that takes careful consideration.
While there are several biased sources that can make arguments for or against owning a home, we’ve found that most home buyers base their ultimate decision on emotion.
Yes, there are some tax advantages of owning real estate, as well as the potential to [...]

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What Does Title Insurance Protect Me From?

by Jonas Kruckeberg March 28, 2010

By including title insurance when purchasing property, your title insurer takes on accountability for legal expenses to defend your property title, should it ever be challenged.
Many different occurrences can come into play to warrant the need for title insurance.
The title company responsible will then take on the legal expenses to defend the property for as [...]

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Understanding the FHA Mortgage Insurance Premium (MIP)

by Jonas Kruckeberg March 28, 2010

The FHA Mortgage Insurance Premium is an important part of every FHA loan.
There are actually two types of Mortgage Insurance Premiums associated with FHA loans:
1.  Up Front Mortgage Insurance Premium (UFMIP) – financed into the total loan amount at the initial time of funding
2.  Monthly Mortgage Insurance Premium – paid monthly along with Principal, Interest, [...]

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First-Time Home Buyer Credit Checklist

by Jonas Kruckeberg March 28, 2010

Getting a new mortgage for a First-Time Home Buyer can be a little overwhelming with all of the important details, guidelines and potential speed bumps.
Since there are so many rules and steps to follow, here is a simple list of Do’s and Don’ts to keep in mind throughout the mortgage approval process:
DO:

Continue working at your [...]

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Should I Refinance or Get a HELOC For Home Improvements?

by Jonas Kruckeberg March 28, 2010

For homeowners interested in making some property improvements without tapping into their savings or investment accounts, the two main options are to either take out a Home Equity Line of Credit (HELOC), or do a cash-out refinance.
According To Wikipedia:

A home equity line of credit is a loan in which the lender agrees to lend a [...]

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Calculating The Net Benefit Of A Refinance Transaction

by Jonas Kruckeberg March 28, 2010

Calculating the net benefit of refinancing can be a challenging task if you do not understand what to calculate. We are going to focus on the net benefits of refinancing from the standpoint of lowering your interest rate.
Although there are several reasons to refinance, lowering your mortgage rate to save on interest payments over the [...]

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Understanding the Difference Between an Appraisal vs Neighborhood Listing Prices

by Jonas Kruckeberg March 28, 2010

Why is there such a difference between what my appraised value is and the price similar homes are selling for on my street?
It’s a great question, and you don’t have to be a mortgage professional or a real estate agent to understand the answer.
The distinction lies in the purpose of the two valuations and who [...]

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Making Sure Your Cash-To-Close Comes From The Proper Source

by Jonas Kruckeberg March 28, 2010

Providing proper asset documentation and the actual source of the funds is a critical element of the loan closing process.
There’s nothing worse in a real estate purchase than making it all the way through the hoops and hurdles just to have a loan denied after the final documents have been signed due to the borrower [...]

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Talk the Talk – Know the Mortgage Lingo at Closing

by Jonas Kruckeberg March 28, 2010

What the heck are they talking about?
Many borrowers go through the closing process in a haze, nodding, smiling, and signing through a bunch of noise that sounds like Greek.
Even though you may have put your trust in your real estate and mortgage team, it helps to understand some of the terminology so that you can [...]

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