Housing Market Updates for Placer County
Housing Market Updates for Placer County Read More »
How’s the Market Steve O? A question we’re used to hearing and love to answer for our clients, friends, and family.
In past years, we saw a real estate market largely influenced by banks with the foreclosures (also know as a REO or REPO) and short sales. Now we’re seeing more homes with sellers that have equity in their home, and we talk today about how that is affecting our current market in 2014.
So listen in and see what’s happening. I promise you’ll be entertained and educated. We also have another fun update about myself and Steve O – you may or may not have noticed we’re a bit more fit. So click the play button below, and lets listen in …
See more informative posts at: www.RosevilleAndRocklin.com – Roseville and Rocklin Real Estate + Lifestyle
Author: Heather Ostrom, Real Estate Marketing – REALTOR
Steve Ostrom, Primary Listing Agent + REALTOR – 916-308-2446 – Homes@RosevilleAndRocklin.com – Coldwell Banker – Roseville, CA – CALBRE# 01344154 + 01899313 2200 Douglas Blvd B-200, Roseville, CA 95661
A “People Driven” Real Estate Market Read More »
What is mortgage insurance and what are your options?
Definition from Wikipedia: Mortgage Insurance (also known as mortgage guarantee and home-loan insurance) is an insurance policy which compensates lenders or investors for losses due to the default of a mortgage loan. Mortgage insurance can be either public or private depending upon the insurer. The policy is also known as a mortgage indemnity guarantee (MIG)
With the info overload in new real estate and numbers that are presented to buyers, it’s no wonder why there’s confusion regarding mortgage insurance. There are many misconceptions about mortgage insurance, so we asked Ryan Nordby of Princeton Capital – Roseville, CA – to go into a deeper discussion about the three flavors of mortgage insurance. In some cases if your credit score is high enough, the “one-time” buyout might be a better solution instead of putting 20% down on your next home.
Here is the example that Ryan uses:
For a $400,000 Purchase 10% down is $40,000.
The MI buyout for a client with 760 credit is 1.27 Points.
($360,000 Loan * .0127 = $4,572) vs. $40,000 more down.
Currently, since FHA financing has changed so much, we are seeing much more conventional loans. In the past, it seemed like anything with less than 10% down was FHA. Once FHA changed their mortgage insurance to being attached to the loan for the life of the loan, we are now seeing primarily conventional loan offers on our listings. Many of them are with as little as 5% down. It is important to go over all scenarios with your lender to know what is the right fit for your current situation, and also for planning down the road and your economic success.
Ryan Nordby, Senior Loan Consultant – www.RyanNordby.comCell: (916) 600-6480 – RyanNordby@princetoncap.com
NMLS# 260857 – CalBRE# 01405357
Property Questions or Showings? 916-308-2446 – Homes@RosevilleAndRocklin.com – REALTORs Steve + Heather Ostrom
See more informative posts at: www.RosevilleAndRocklin.com – Roseville and Rocklin Real Estate + Lifestyle
Author: Heather Ostrom, Real Estate Marketing – REALTOR
Steve Ostrom, Primary Listing Agent + REALTOR – 916-308-2446 – Homes@RosevilleAndRocklin.com – Coldwell Banker – Roseville, CA – CALBRE# 01344154 + 01899313 2200 Douglas Blvd B-200, Roseville, CA 95661
The Different Flavors of Mortgage Insurance Read More »
So maybe you had a short sale a few years back … or perhaps experienced a foreclosure, but time has passed and you’re ready to be a home owner again (or not). Nothing wrong with being a home owner or renter, it’s whatever you’re comfortable with, but we are seeing a surge of requests from folks that are ready to buy again, who have experienced a home loss or sold their home by short sale in the past. So we want to help you know what your options are … there are many folks in your position.
The Question: “So When Can I Buy Again, After my Short Sale or Foreclosure?”
We sat down with Dara Delgado, Senior Loan Officer and she provided some invaluable insight to buying after a short sale or foreclosure. Steve and Dara discuss what you should be looking out for, how to prepare yourself, and what the timelines are right now for when you can buy after a short sale or foreclosure. We also touch on checking your credit report to verify items have cleared.
To talk to Dara Delgado about your specific situation, whether about buying after a short sale or foreclosure, and/or to simply buy your next home or refinance … or to simply ask questions, post below or give her a call at (916) 224-3327 – www.DarasLoans.com (Pronounced DaaaRRR-ruh – so don’t panic on the pronouncing of her name, we have your back, we’re cool like that …)
Watch Dara’s Video on “Upside Down, Buy Moving Up”
** Before making any big decision regarding purchasing, executing a short sale, or allowing your home to foreclosure – always make sure to consult your tax person and/or attorney and research what is the best option for your specific situation. **
Dara Delgado, Sr. Loan Officer
NMLS# 249825
Direct: 916-224-3327
Fax: 866-488-8512 dara@darasloans.com
Visit Dara’s Website
Property Questions or Showings? 916-308-2446 – Homes@RosevilleAndRocklin.com – REALTORs Steve + Heather Ostrom
See more informative posts at: www.RosevilleAndRocklin.com – Roseville and Rocklin Real Estate + Lifestyle
Author: Heather Ostrom, Real Estate Marketing – REALTOR
Steve Ostrom, Primary Listing Agent + REALTOR – 916-308-2446 – Homes@RosevilleAndRocklin.com – Coldwell Banker – Roseville, CA – CALBRE# 01344154 + 01899313 2200 Douglas Blvd B-200, Roseville, CA 95661
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Equal Housing Opportunity
Buying a Home after a Short Sale or Foreclosure Read More »