12 Days of Christmas for Homebuyers

12 Days of Christmas for Homebuyers

by Flipper Chicks: Lynn & Ari

On The First Day of Christmas we decided to buy a home. We thought we better talk to a Realtor and Lender instead of going on our own. On the Second Day of Christmas arose such a clatter – we found out about the newest flipper chicks certified, remodeled homes for sale and at affordable prices!

On the Third Day of Christmas we went to see these homes. With our Realtor time flew like a flash and after driving around we decided on that perfect home! On the Fourth Day of Christmas, with thoughts of stockings hung by our new chimney with care, our Realtor submitted our offer – there was fun in the air!

On the Fifth Day of Christmas our offer was accepted – our holiday wishes were coming true. On the Sixth Day of Christmas we ordered all inspections – the inspectors threw open the shutters and made such clatter, but in the end the reports on the home were great so it didn’t matter.

On the Seventh Day of Christmas with eyes all aglow our lender said “yes, you are approved” and it was a “go”! On the Eighth Day of Christmas the appraisal was due and with a wink of his eye and a twist of his head I knew I had nothing to dread.

On the Ninth Day of Christmas we had nothing to do but wait while our lender flew like a flash to get our loan documents ready with a dash. On the Tenth Day of Christmas all of us had papers to sign – our eyes how they twinkled with merry cheer and delight.

On the Eleventh Day of Christmas our first home was so near, with great anticipation we cheered and cheered and cheered! On the Twelfth Day of Christmas we picked up our keys and now own our home and thought “MERRY CHRISTMAS TO ALL AND TO ALL A GOOD-NIGHT.”

Lynn Tardibuono is a CA Realtor, co-owning Sun Pacific with her husband since 1988 here in Sonoma County and they have expertise in both real estate and lending. Her number is (707) 523-2099. See website @ sunpacmortgage.com.

Stopp Being Stopped – From Buying a Home

STOP BEING STOPPED

DECIDE TO NOT BE STOPPED FROM BUYING A HOME

By Broker: Forest Tardibuono

Click here to watch the video

 

This Article is addressed to all those who long to buy a home but have not done anything about it.

Let’s be clear on this question of “Buy a home – don’t buy a home?”

It’s obviously not the rates. 30 year fixed rate loans are at the lowest – ever! Did everyone see that headline in every news forum? Lowest ever!

It’s obviously not real estate prices, because the majority of the statistics show they have hit bottom and are projected to rise based on those statistics.

It’s obviously not the fact that there are major tax advantages to owning a home, because those have been preached for years.

So what is stopping you? Think about it for a minute, what is really stopping you?

Whatever you came up with – get over it ! OK that’s rather abrupt but look at the compelling facts above that demonstrate why you should get over whatever it is that has stopped you.

Did you decide to stop being stopped?

Good. So the starting point for becoming a home owner is being pre-approved for a home loan. This is the starting point. You do not want to shop for the home first. That is putting the cart before the horse. Most sellers in this current market will only look at offers from Buyers that have been pre-approved for the home loan.

You have a couple of ways you can go here: If you have a real estate agent already, have them set this up with their favorite lender, preferably a mortgage broker, since you probably have no idea what type of loan you may qualify for. If you don’t have a real estate agent, you could interview a few and decide on one and then have them steer you to their favorite lender. You could also go direct to a local mortgage broker or your favorite bank. You could look in the Yellow Pages (do people still do that?) or go on-line and search mortgage broker and the city you live in.

It does not cost anything to find out what you can buy based on your credit, income and down payment.

Touching on that briefly, you can be a Buyer whether you have perfect credit, good credit or “bad” credit. You can also be a Buyer if you have from easily verifiable income to difficult to prove income. You can be a Buyer with as little as 1/2 % down!

Regularly published are the 30 year fixed rates offered by FNMA, FHLMC, FHA, and VA as well as PERS and loans made by the California Housing Finance Agency. These are deemed “conforming” loans. They are offered through local Brokers and banks. You need good to perfect credit for these as well as verifiable income. You also need to be buying a home that is in pretty good shape. No fixer-uppers.

Finally, any time one of the above traditional lenders cannot approve your loan you need the services of a hard money lender. These are Brokers and companies that offer these non-traditional, that is non-conforming – programs. Some of the reasons conforming lenders say “no” are low FICO scores, a recent bankruptcy, inability to verify income, no tax returns, no bank statements, high debt to income ratios, odd or non-conforming types of properties such as mixed use, multiple units, apartments, land, etc. Hard money generally requires just 2 things: a good down payment and ability to repay the loan.

You’ve already decided to stop being stopped. What are you waiting for?

Don’t miss out! Now is the time to buy.

Forest Tardibuono is a CA DRE Broker with over 23 years experience in real estate and lending. His number is (707) 523-2099. See website @ www.sunpacmortgage.com.

DECIDE TO NOT BE STOPPED FROM BUYING A HOME

STOP BEING STOPPED

DECIDE TO NOT BE STOPPED FROM BUYING A HOME

This Article is addressed to all those who long to buy a home but have not done anything about it.

Let’s be clear on this question of “Buy a home – don’t buy a home?”

It’s obviously not the rates. 30 year fixed rate loans are at the lowest – ever! Did everyone see that headline in every news forum? Lowest ever!

It’s obviously not real estate prices, because the majority of the statistics show they have hit bottom and are projected to rise based on those statistics.

It’s obviously not the fact that there are major tax advantages to owning a home, because those have been preached for years.

So what is stopping you? Think about it for a minute, what is really stopping you?

Whatever you came up with – get over it ! OK that’s rather abrupt but look at the compelling facts above that demonstrate why you should get over whatever it is that has stopped you.

Did you decide to stop being stopped?

Good. So the starting point for becoming a home owner is being pre-approved for a home loan. This is the starting point. You do not want to shop for the home first. That is putting the cart before the horse. Most sellers in this current market will only look at offers from Buyers that have been pre-approved for the home loan.

You have a couple of ways you can go here: If you have a real estate agent already, have them set this up with their favorite lender, preferably a mortgage broker, since you probably have no idea what type of loan you may qualify for. If you don’t have a real estate agent, you could interview a few and decide on one and then have them steer you to their favorite lender. You could also go direct to a local mortgage broker or your favorite bank. You could look in the Yellow Pages (do people still do that?) or go on-line and search mortgage broker and the city you live in.

It does not cost anything to find out what you can buy based on your credit, income and down payment.

Touching on that briefly, you can be a Buyer whether you have perfect credit, good credit or “bad” credit. You can also be a Buyer if you have from easily verifiable income to difficult to prove income. You can be a Buyer with as little as 1/2 % down!

Regularly published are the 30 year fixed rates offered by FNMA, FHLMC, FHA, and VA as well as PERS and loans made by the California Housing Finance Agency. These are deemed “conforming” loans. They are offered through local Brokers and banks. You need good to perfect credit for these as well as verifiable income. You also need to be buying a home that is in pretty good shape. No fixer-uppers.

Finally, any time one of the above traditional lenders cannot approve your loan you need the services of a hard money lender. These are Brokers and companies that offer these non-traditional, that is non-conforming – programs. Some of the reasons conforming lenders say “no” are low FICO scores, a recent bankruptcy, inability to verify income, no tax returns, no bank statements, high debt to income ratios, odd or non-conforming types of properties such as mixed use, multiple units, apartments, land, etc. Hard money generally requires just 2 things: a good down payment and ability to repay the loan.

You’ve already decided to stop being stopped. What are you waiting for?

Don’t miss out! Now is the time to buy.

Forest Tardibuono is a CA DRE Broker with over 23 years experience in real estate and lending. His number is (707) 523-2099. See website @ www.sunpacmortgage.com.

All Roads Lead to Rome

 

 

This ancient adage simply means that the facts of a matter point to one conclusion. Since I write articles about lending and real estate, I’ll give you the facts and let’s see if “all roads lead to Rome”, that is we conclude the same thing.

• Interest rates on 30 year and 15 year fixed rate mortgages are at historic lows.

• Mortgage interest deduction is still intact.
• Property values are at or near the bottom of the market in many areas.
• Owning a home is as cheap as renting in many areas of the country.
• There are lots of homes being sold everywhere in the country.
• Loans are being made in all areas of the country.
• FHA ( Federal Housing Administration) still makes loans to Buyers with 3.5% down and there are still zero down programs!

Private money loans now account for 1% of all loans done in the USA. With a good down payment you can buy a home even if you just did a short sale, had a property foreclosed upon and/or did a bankruptcy or are in bankruptcy.

In the county I live in, the median price for a home has risen for the last 3 months.

America isn’t going to dry up and disappear. It will recover from the current mess.

What do you conclude from the above?

If you are considering buying a home – go and do it right now!

All roads lead to “Home”.

Guy In The White Hat Comes To Homebuyers’ Rescue!

 

Ever since we opened our doors in Sonoma County in 1988, we’ve given extra care to round up people who have been “Turned Down Elsewhere?” – because of credit, income, the property or a combinations of these.

We are the local Hard Money Lender who can help rescue your deal…and get your Buyer into That Home!

Here are Hard Money Buyers recently rescued…

Curtola Parkway, Vallejo, CA 94590

First Trust Deed for $48,750 @ 13% interest only for 36 months. Purchase price was $75,000. $30,000 down payment. 60% loan to value. This is a purchase of a 4 bedroom 2 bath home of 1,740 sq. ft. on a 3,267 sq. ft. lot. This house payment including taxes and insurance totals around $600 is about $200 less than they were paying for rent at $850.

1386 Donna Street, Novato, CA

First Trust Deed of $202,300 for 85 months @ 12.0% interest only. Loan to value is 70%. No prepayment penalty. Purchase price was $289,199.This is an owner-occupied purchase of a single family residence. It is 3 bedrooms and 2 baths at 1,163 sq. ft. on a 7,492 sq. ft. lot built in 1956.

Laurel Street, Santa Rosa, CA

First Trust Deed of $192,000 for 12 months @ 12.0% interest only. Purchase price was $240,000. Loan to value was 80%. Home is 3 bedroom, 2 bath and 1,250 sq. ft. 0n a 10,000+ sq. ft. lot. Buyer is an experienced Flipper.

Park Glen Drive, Windsor

First Trust Deed of $206,400 for 12 months @ 12.0% interest only. Purchase price was $258,000. Loan to value is 80%. 4 bedroom, 2 bath home of 1650 sq. ft. on a 8,276 sq. ft. lot built in 1973.

Loan approval based on just 2 criteria:

1. Good Down Payment

2. Ability to Repay

FAST Hard Money financing in Sonoma County and contiguous Counties

• FICO is not a factor
• Up to 75% loan-to-value – Case by Case Basis
• Loan amounts to $400,000 ($400,000 + on a Case by Case Basis)
• Investor and Owner Occupied financing

Don’t hesitate to CALL NOW @ 707/523-2099 so we can help rescue your Homebuyers today!

Lender’s Viewpoint: Consumer Confidence

Consumer Confidence: Courage and Happiness
By Forest Tardibuono

 

Who would have thunk that as a real estate and mortgage Broker, I would ever need to and actually have to write about courage, happiness and the like.

Lack of consumer confidence is all over the various media. It has been stated by numerous sources that it stems from uncertainty about the future. Uncertainty about gas prices, food prices, home prices, the financial markets, health care costs, taxes, unemployment, blah, blah, blah.

Aren’t you sick of it? Well you should be. And you should be especially if it has stopped you from doing something that will contribute to your future prosperity and happiness. The future is coming. It will likely be bright. No matter what it will actually be, it will get bad press. You should not be stopped by it. Of course, if you are out of work, your number 1 priority would be to get work. And there will be obstacles thrown at each of us individually. But that’s how life works.

Here comes the courage part.

I am currently doing a refinance for a very nice couple. They recently voluntarily dismissed a reorganizational bankruptcy (payment plan). Their home is scheduled for sale on the courthouse steps next week. They have a hefty state tax lien, a federal tax lien and an incorrect order for child support. Their home was in the middle of a remodel before they ran out of money to finish it and the permit for finishing it expired. They have lived there for over 14 years. To accomplish the refinance and save his home from being sold on the courthouse steps, this small business owner had to come up with more than $80,000.

It should be done on Tuesday and their home will be saved.

This is truly a demonstration of courage. In spite of all that occurred for this couple, they stuck it out and are going to come out the better for it. They could have taken the $80,000, let the house be foreclosed and gone and rented elsewhere. But this was their home. It was where they were raising their kids. It was where they were happiest and that made it worth jumping through every hoop thrown at them.

It’s funny how the simple decision to save their home increased the necessity level in this business owner to find the work and get the money needed to accomplish their goal of saving the family home. It was just a decision about their future and it put the certainty there.

The moral of the story is that you decide your future. Decide it will be bright and go for it.

Commercial Break: Buy real estate!

Statistics, Statistics, Statistics

LENDER’S VIEWPOINT
By Forest Tardibuono

 

I debated in high school and then went to Arizona State University on a tuition scholarship for debate. Not too long into my college debate team tenure, I discovered concurrently, the girls dormitory housing 1,500 suntanned beauties, 7 oz. beers 6 for a buck, and the pool life around Lemon Grove Terrace – among other things. So much for the debate team.

But from all those years of competition one thing did become clear and that was that statistics require scrutiny. They also need to be compared to other statistics to have any real meaning. Even more important is to look at who was giving forth the statistic and the source of the statistic. You probably innately know this, maybe you don’t. But in these trying economic times people the world over need to be reminded to think for themselves and not blindly trust what we are being told. Bad news and even worse headlines sell newspapers and draw us to news shows on television, radio and the internet. This is in spite of the fact there is good news buried under the headlines. It is commonly known that bad news sells newspapers.

This is really all that is holding down housing right now – the preponderance of bad news. It is really all that is hampering business expansion leading to the current unemployment rate. I have heard it called a lack of confidence. People are beat up about the bad news, the publishing of “bad” statistics. The real drag on the economy is that people get so beat up by bad news they feel like they can’t do anything about it – lack of confidence.

Can you have another viewpoint though? I mean can you subtly change your thinking just slightly?

America isn’t going to dry up and disappear. It will recover from the current mess. Don’t you truly believe that? I do. I mean I’m not done with supporting my family, I’m gonna go camping again and fishing and golfing, and buying clothes and going to church and paying taxes and eating right and eating badly and working my b___ off for all of this. That’s what I’m going to do. And I’m going to go about it confidently and with good cheer because it does not accomplish anything to be other than that. And I’m going to see headlines and statistics and hear news that I’m going to take with a grain of salt because I know their stated purpose is to put forth bad news. So I’m not going to let it affect me one little bit.

My initial purpose for writing this article was to motivate buyers to get out there and buy right now because the statistics I view as a mortgage broker and real estate broker all point to BUY NOW. Get your confidence back in America. That is simply your decision. And the next time you see a bad headline just know that they are probably all bad headlines with the worst statistics. It sells newspapers.

Forest Tardibuono is a CA DRE Broker with over 23 years experience in real estate and lending. His number is (707) 523-2099. See website @ sunpacmortgage.com.