When a buyer hires the right agent that knows the area well, they can make well-informed decisions that may leave them sitting in a nice equity position. In this instance, the buyer had an equity position of about $95,000. This equity provides a hedge against a downward housing market. Not all 203k projects end with [...]
As of July 1 all California homeowners must now have a carbon monoxide detector installed in the house or they could be fined $200. You should also know that if you plan to buy a house, the detector should be installed before getting your appraisal done. Because when the appraiser comes out to do [...]
Debbie Rumsey, a REALTOR in Encinitas, CA commented that buyers with VA home loans face increased scrutiny from sellers and their agents, on an article I wrote about VA condo complex approvals: Thanks Brian! I have bookmarked this for a place to refer back to when using VA loans. The hardest part so far seems [...]
As a loan originator, I am constantly telling buyers and real estate agents that there is more to an FHA transaction than a conventional transaction and the lenders will look at the details of the file much closer. What does this mean exactly? Well the application is longer and has a separate set of disclosures [...]
How To Determine The Value For A Phoenix FHA 203k Mortgage This article will discuss the two values most commonly viewed when underwriting a 203k FHA home mortgage. When you’re purchasing a home in Phoenix and utilizing a 203k FHA loan, it’s important to understand the importance of “as-is” value and “as completed” value. Appraisal Requirements for the [...]
Any guesses on whether or not this home will meet the requirements for a FHA loan in Phoenix?? Below are some of the important guidelines most appraisers utilize when they appraise a home in Phoenix where a FHA home mortgage is used for financing. 1: Home Inspections: Borrowers are encouraged to obtain a detailed home inspection of the property. Borrowers should research home [...]
“… that would mean today’s house that costs $200,000 would be worth almost $331,000 by the end of 2014.”
Most people are surprised to learn what appraisers actually look at when determining the value of a real estate property. A common misconception homeowners generally have is that the value of their home is determined after the appraiser has completed their physical property inspection. However, the appraiser actually already has a good idea of the [...]
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 [...]
A few years ago, when home values were just going up, most homeowners did not question appraisals much. It was the best of times. Over the past two and a half years, home sellers and even listing agents quite often question and pick apart appraisals. It was the worst of times. A Tale of Two [...]
*This is not an offer to lend. 
Obama Refinance Plan For San Jose Homeowners AnnouncedHome Affordable Refinance Program Update Harp 2 Bay Area San Francisco California March 2012 Guidelines for Purchasing a 3 to 4 Unit Property with FHA Financing in Alameda, CA8 Year Fixed to 30 Year Fixed. You Can Choose Your Loan Term In San Jose
