For the past few years, inventory has been the big story in the San Francisco Bay Area real estate market. Or rather, a lack of inventory. Tight supply and strong demand have boosted home prices, while fueling fierce competition among buyers. But that appears to be changing. A new housing industry report showed that several […]
How Much Do You Need to Put Down on a Home in California?
Home buyers in California tend to have a lot of questions about down payments. And that’s understandable, since it’s one of the bigger hurdles along the path to homeownership. One of the most common questions is: How much do you need to put down on a home purchase in California? The answer to this question might […]
How the Average Mortgage Payment Has Risen in California Cities
An October 2018 housing report showed how the average or typical mortgage payment has increased in major cities across America. In California, rising home values have resulted in a higher average monthly mortgage payment in most cities. The biggest increase was seen in the San Jose metro area, where the typical monthly payment rose by […]
Outlook: Will 2019 Be a Good Time to Buy a Home in California?
The holiday season is fast approaching, with the end of the year right on its heels. That means a lot of home buyers in California are starting to look ahead to 2019. And many of them have the same kinds of questions: Will 2019 be a good year to buy a home in California? What’s […]
Typical Down Payment and Home-Buying Costs in the Bay Area, 2018
A recent report showed that the typical down payment among Bay Area home buyers was roughly $143,115 during summer 2018, for a median-priced home. But that’s based on a down payment of 15%. Your minimum required investment could be much lower than that, depending on the circumstances. Typical Down Payment & Closing Costs for Buyers […]
Report: Most California & U.S. Home Buyers Put Down Less Than 20%
According to a recent report based on consumer surveys, 52% of home buyers in California and nationwide make down payments less than 20% when buying a house. While some borrowers choose to put down 20% or more to avoid paying mortgage insurance, it’s not an industry requirement. These days, some of the major mortgage programs […]
How to Prepare for Closing Day: 4 Tips for California Home Buyers
California home buyers tend to have a lot of questions about the real estate closing process. This is especially true for first-time buyers who have never been through it before. In a previous article, we outlined the basic steps in the closing process for California home buyers. Today, we’ll talk about some of the things […]
California Conventional Home Loans Pull Further Ahead of FHA Program
Revised mortgage guidelines issued by Fannie Mae and Freddie Mac have made conventional loans more popular among California home buyers seeking a low down payment. A recent report shows that California conventional loans have widened the gap even more, during 2018. California FHA Loans Lag Further Behind Conventional A report published by ATTOM Data Solutions […]
Bill Would Simplify Mortgage Process for Self-Employed Borrowers in California
Summary: A bill introduced in the Senate recently would theoretically make it easier for self-employed home buyers in California to get mortgage loans. In August 2018, a pair of U.S. senators introduced a piece of legislation that could make it easier for self-employed borrowers in California to qualify for mortgage loans. It’s a significant development, because there […]
California Mortgage Rate Forecasts Into 2019: Experts Predict a Slight Increase
Mortgage rate forecasts for California and the rest of the nation suggest that borrowers could see higher rates in 2019, compared to where we are right now. Meanwhile, home prices in California continue to rise, giving buyers a sense of urgency. Here’s a look at current trends, followed by some new predictions for California mortgage […]