Hello Friends, The rate environment for the month of February was hot!
Rates fell slightly on 1/31/2020, back to the lowest levels last seen on 10/4/2019. As of halfway through the month of February, rates are still in that zone and this is the longest amount of time it has been here since rates started dropping on 6/5/2019. I don’t know how long this will last, but we are back in the thick of refinance madness and it may go for a while, maybe through 2020. All lenders are getting backed up, including me! With this increased volume, I am not able to be proactive and alert you about this opportunity. So, if you think your rate is high enough that you should check with me for a free consultation, please reach out.
With rates falling again and a lack of inventory in many regions in
California, especially the Bay Area, the home buying season is going to be a hectic one again in 2020. First-time home buyers are going to feel the pinch with many multiple offers to compete with. I will include a series of information for first-time home buyers over the next few months that may be of use to you or someone in your sphere of influence.
How to Get a Mortgage as a First-Time Homebuyer: “Mortgage 101” I start with an informational meeting I call “Mortgage 101.” This is my free
“What are the pros and cons of a 30- year fixed-rate mortgage?”
How to Build Your Credit the Easy Way!
• How to Seriously Tackle Your Credit Card Debt!
...And More Stuff Every Homeowner Should Know to herein are not available to persons located outside the state of California.
I analyze your individual situation and help you understand what you can purchase and what price range fits within your budget. At that point, if you are ready, I will collect your information and we can start the pre-approval process. If you have great credit, and easy access to a down payment for 20% or more of your desired home price, that’s fantastic! If not, I will work with you to explain your options, including giving you concrete steps for raising your credit score, and different types of financing and insurance that will make your dream possible! Next, we will shop our database of over 150 lenders for you to find the best loan at the lowest rate, that gives you the most bang for your hard-earned ratings and bucks.
There are different types of first-time home buyer programs; variations are impacted by your credit scores/ credit history, type of job, income level, available funds, and property location. The short answer is: No matter where you are in your life, your credit history, or accumulated savings, talk to us. Whether you have limited credit (shorter length of time), or limited breadth (lacking multiple types of credit), a lower credit score, less money for a down payment, or any combination of these, we have access to programs that will provide you with the funds to purchase your first home.
Please feel free to contact me directly for a free credit check and mortgage consultation.