Are you in a situation where you don’t have access to a W-2, pay stubs, or tax returns, but you want to buy a home? You know that you can afford it, but how do you get approved for a loan? In the past, you’d have to get a bad deal from a private lender, …
This New Loan Program Helps Groups Without Consistent Income Read More »
Today I want to share some news with you that hasn’t received a lot of national attention. If you don’t know, SBA loans can help you buy commercial property the same way FHA loans can help you purchase a home. Recently, refinancing rules with SBA loans have changed. You may be able to get a …
Today I want to talk about reverse mortgages. A reverse mortgage is when the lender pays you money each month, and anyone who’s 62 years or older can get one. They’re a great way to supplement your retirement income, but it can be hard to downsize if you have one in today’s market. That’s why …
There are three different pieces of legislation that will affect California property owners. Today we’re focusing on Senate Bill 9 (SB-9). This bill will allow property owners to split their lots and build each lot with an additional unit, but there are multiple caveats. For example, you have to occupy the property for at least …
You have a couple of options when your sales price differs from your appraised value. What happens when there’s a difference between your home’s sale price and the appraisal value? This conundrum comes up a lot when there are big increases in property values over a short period. Well, we have a couple of ways …
What If Your Appraisal Price Doesnt Match the Contract Price? Read More »
Real estate offers more leverage than stocks; 2020 is the proof. If you’ve done business with me or have been a follower of my blog, you know that I’ve always said real estate gives you leverage. In 2020, the real estate market has outperformed the stock market—one slice of “normal” we can be thankful for. …
Still Not Convinced Real Estate Is Better Than Stocks? Read More »
Today I’m sharing how first-time buyers can use ADUs to help pay down their mortgage. Welcome to part one of my new series on how to retire without savings through real estate. This information can benefit anyone, including millennials who have just purchased or are about to purchase their first homes. A quick note before …
How Homeowners Can Pay Down Their Mortgage Through ADUs Read More »
First-time homebuyers should take advantage of this little-known program. I discussed mortgage credit certificates a few years ago, but now we have so many millennial first-time homebuyers that I thought it was a good idea to remind you about them. Be sure to ask your lender if they’ve been approved by your state and local …
What to Know About the Mortgage Credit Certificate Read More »
Here’s some key info regarding changes to the lease-to-own program. When ‘lease to own’ was introduced in 2011, the program sponsor would agree to purchase a home for up to $600,000 and lease it out to a would-be buyer with bad or recovering credit but a qualifying income. It was designed for people who had …
Great News for Homebuyers With Recovering Credit Read More »
