Which Type of Mortgage is Right for you?

When you apply for mortgage to buy a home, the options can be confusing, even overwhelming. Figuring out which loan is right for you depends on several factors. How long do you plan to hold the loan? How much cash do you have? What is your monthly income and credit score? To make matters more … Read more

California Unveils Shared Loan Program for First-Time Buyers

My friend Ginny Richards, a senior loan officer at Kind Lending in Ukiah, was just telling me about a new loan program from the California Finance Housing Agency (CalFHA). It’s called the California Dream for All Shared Appreciation Loan, and if you’re a first-time home buyer, it could be worth looking into. What is the … Read more

Why Do Loans Cost So Much?

Recently, a fellow called me looking for a small, private-money loan of $14,000 to fund some home renovations. He had a credit score of 840, which is about as close to perfect as you’re likely to find. He had no outstanding debt to speak of, having just paid off his car loan a year after … Read more

How to Make Sure Your Offer Gets Chosen Above the Rest

Last week, I shared information about how to be the buyer whose offer is accepted. While I cannot provide a fail-safe way to guarantee your offer will be chosen, I can certainly give you good advice that will put your offer near the top of the list: get pre-approved for a loan. Remember, property owners … Read more

All Kinds of Loans – Part III

This is the third in a series describing the various types of real estate loans. Whether you have excellent credit or no credit, whether you’ve saved for a down payment or you can’t rub two nickels together, there’s a loan for you. Seller Carry Backs – For seller carry backs, the seller agrees to provide … Read more