San Jose, Bay Area and California Mortgage Blog

Mortgage and Lending - Arcus Lending - NMLS 8176
Federal Housing Administration (FHA), which insures lenders against losses on home mortgages, announced a series of changes that will have far-reaching impact on the housing market of San Jose, the entire San Francisco Bay Area and rest of the country. Background - The agency confirmed that, as ...
I have blogged about CalHFA 5% downpayment program & $8000 First Time Home Buyer Credit in my earlier posts. This post will help you  find all the details on 3% down payment assistance program. The California Homebuyer’s Downpayment Assistance Program (CHDAP) is a deferred payment, simple intere...
California Housing Finance Agency or CalHFA in short recently launched it's new program called Cal 30 - Conventional for First Time HomeBuyers in the San Francisco Bay Area and the rest of the state. This conventional first mortgage features a fixed interest rate, fully amortized loan over a 30-...
CNN Money reported that China's $200 billion sovereign wealth fund, which suffered big paper losses on stakes in Morgan Stanley andBlackstone, is set to invest up to $2 billion in U.S. mortgages as it eyes a property market recovery. Under the Public-Private Investment Plan (PPIP) launched earli...
A lot of surge in current Bay Area real estate market is being driven by First Time HomeBuyers. Some sources estimate that they now account for 50% of the market. A lot of First Time HomeBuyers end up buying condominiums since it fits into their budget. In this market of low property prices, you ...
Though FHA Lending now represents more than 30% of mortgages, there are still a lot of misconceptions that both real estate agents and the First Time Home Buyers have about this program. All the myths that I have listed below have been raised to me numerous times. I finally decided to post a blog...
If you are asking the question - FHA vs Conventional Loans, which one is better? You are not alone. I was speaking at an FHA seminar for real estate agents in Fremont, CA recently. The topic was "How FHA loans are playing a big part in qualifying more First Time Home Buyers". At the end of the pr...
This is not a good news for first time home buyers in Silicon Valley and rest of the state. CA state tax credit of $10,000 for First Time Home Buyers has reached the $100 million limit. Background - In April this year California government made the $10,000 tax credit (or 5% of the purchase price ...
Great news for homeowners and buyers in Contra Costa, San Mateo and San Francisco counties. Stated Income loans are now available for borrowers in these counties. This type of loan could specially be very useful for Self-Employed borrowers who find it difficult to document their "real" income via...

Shashank Shekhar

San Jose, CA Mortgage Broker/Lender
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