If you are not a US Citizen trying, it can be a long and difficult road to obtain a mortgage. Many lenders won’t makes mortgages to people who don’t have social security numbers or permanent work stability. For the purposes of getting a mortgage, US Citizens and Permanent Resident Aliens are the same, with one [...]
Noticed some insane data today from the California Association of Realtors. Bay Area median home prices have skyrocketed in the last year. And much of the gains came in the last month. Check out the median prices of existing single family home sales in Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, [...]
Consumers shopping for a mortgage typically concentrate on attaining lowest possible interest rate. Rates have risen slightly in recent weeks as a more exuberant stock market has taken shape. Current consensus points to more consumers entering the mortgage market, motivated to take action, as a result. Factors At Work The financial markets, jobs data, and [...]
With more home buyers entering the market, competition increasing, driving prices in most pocket areas up, consumers begin to place more emphasis on sustainable payment over time considering they could be paying more for the property than anticipated. Such real estate market conditions are also causing many buyers to switch mortgage loan programs during the [...]
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Reflecting the tight inventory, high demand, and a changing mix of homes for sale, the median price of a bay area home shot up 27% in January. DataQuick reports: A total of 5,501 new and resale houses and condos were sold in the nine-county Bay Area last month. That was down 28.4 percent from 7,688 [...]
Many of the mortgages being made today contain higher loan to values. These loans contain inherent “risk based pricing” which causes the rates to change. What is loan to value anyway? The loan to value (LTV) is defined as the amount of money you’re borrowing against the value of your the property expressed as a [...]
