Adjustments Ease FHA Home Loan Requirements

Here’s a piece of good news for a segment of the real estate market! Many potential buyers in this area, especially first-time buyers, will benefit from these relaxed requirements.

This is great news for anyone looking to buy or sell a home. We have had a number of buyers contact us over the last few months that were just on the cusp of qualifying for an FHA mortgage, but because of the tighter mortgage regulations, were unable to qualify.

According to this article from Inman, FHA lenders Wells Fargo and Quicken Loans have confirmed that they will now lend to applicants with 580 FICOs and 3.5% down payments.

FICOs and FHA: 2 big lenders loosen up

If you're looking to take advantage of the fantastic mortgage qualificatons, give Team Patereau a call at 408-981-2799 and we'll help you get started and get a great deal on a home.

Realty Times - About That Real Estate Sales Tax

Realty Times - About That Real Estate Sales Tax

At my regular Gilroy Rotary meeting yesterday, I sat next to Bill, an avid real estate investor. He reminded me about the "Real Estate Sales Tax." While this does affect Bill and his investment property sales, it is not an across-the-board sales tax on real estate. Realty Times did a good job of explaining this when the Health Care Bill first passed. And, contrary to Bill's information, this tax does not go into effect untio 2013. Bill thought it went into effect on January 1st of this year. It's worth another look to get all the details, especially if you, like Bill, think this is a "Real Estate Sales Tax."

Clearing Your Credit History - It's a Long Road

 

Should You Move or Remodel?

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  Should You Move or Remodel?

  When your house no longer suits you, you can move or remodel. Find out which big change is the right investment of your housing dollars. Read

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