Buying your first home can be a challenging, costly experience, especially in California. Fortunately, the CalHFA or California Housing Finance Agency offers several first-time home buyer loan programs for those individuals who are eligible. CalHFA Advantages and Eligibility Requirements In order to be eligible for a CalHFA loan, the state of California requires that you […]
How Bank Statement Loans Work
Are you a self-employed house hunter searching for real estate in the San Francisco Bay area? For those interested in the East Bay, Concord, Pleasant Hill, and Richmond are all housing markets to consider; after seven years of rising home prices in the general area, in 2019 year-over-year prices are leveling out or dropping according […]
VA Mortgage Loan Limits for California Will Go Up in 2019
Are you in the military? Do you plan to buy a home in California in 2019? If so, you’ll be glad to know that the VA loan limits for California will be going up in 2019, in response to rising home values. This will allow military home buyers to borrow more money, without making a […]
Maximum Conforming Mortgage Amount in California Going up in 2019
In November, the Federal Housing Finance Agency (FHFA) announced that it was increasing conforming loan limits for most counties across the country. In 2019, California loan limits will range from $484,350 to $726,525, depending on the county. FHA and VA might go up as well. California Loan Limits Go Up for 2019 In California, the 2019 conforming […]
Access to California Jumbo Loans Increases as Home Prices Keep Rising
Home prices across California have risen steadily over the past few years. As a result, more and more home buyers are using jumbo loans in California, to finance their purchases. Fortunately, access to these mortgage products has improved. A recent industry report showed that jumbo loan availability in California and nationwide has improved over the […]
Report: Many California First-Time Buyers Prefer FHA Loan Program
A lot of first-time home buyers in California lack the funds needed to make a large down payment on a home purchase. So many of them turn to low-down-payment mortgage programs such as the Federal Housing Administration (FHA) loan program. In fact, an August 2018 report published by the Urban Institute showed that first-time home […]
Report: San Diego Is the #2 County in the Nation for VA Loan Usage
VA loans are popular in San Diego County, due to the large population of service members who are stationed there. According to a 2018 recent report by the U.S. Department of Veterans Affairs, San Diego was the #2 county in the nation for VA loan volume during fiscal year 2018. Only Maricopa County in Arizona did more […]
Minimum Down Payment for a Bay Area Home Purchase: Summer 2018 Update
It’s no secret that the Bay Area real estate market is expensive. Home prices here have risen steadily in recent years, largely due to a shortage of inventory. As a result of these trends, many home buyers have questions (and sometimes concerns) regarding the minimum down payment for a home in the Bay Area. This […]
Bank Statement Loans in California Are Ideal for the Self-Employed
Are you currently self-employed? Do you plan to buy or refinance a home in California sometime soon? If so, you should know about the benefits of bank statement loans in California. This is a unique financing option that could help a lot of self-employed borrowers in the state. The mortgage industry has become more flexible […]
How Much Are VA Loan Funding Fees in California?
Summary: VA funding fees in California can range from 1.25% to 3.3% of the loan amount. These required fees can be paid in cash or “rolled” into the loan. Some borrowers, including disabled vets, do not have to pay them. This article is part of an ongoing series that explains important aspects of the VA […]