Bay Area Techies Get No-Money-Down Mortgages

Bay Area Techies Get No-Money-Down Mortgages

  After living expenses, student loans, credit cards, car payments, and all your other bills, it can be a challenge to put away any significant portion of your income for a down payment on a new home.  If you happen to work in Silicon Valley making a decent salary at a tech startup, however, you may be eligible for a no-money-down mortgage loan. Mortgage lenders are vying for those well-paid Bay area customers by offering tailored loans, guaranteed 24-hour approval, and financial-planning services along with no-money-down mortgages.  Lenders are banking on the success of the tech industry and the potential...Read more
Buy Your Home With Only 1% Down

Buy Your Home With Only 1% Down

  In an effort to provide as many options as possible to potential homeowners, Quicken Loans has collaborated with Freddie Mac to provide a purchase mortgage loan that only requires a 1% down payment.   Here is yet another example of why you should shop around to find the best mortgage loan to suit your financial situation.  Mega banks such as Bank of America and JPMorgan Chase have only recently been able to offer loans with a 3% down payment.  Quicken Loans’ 1% down mortgage is 66% lower.   The program was spawned out of the partnership between Quicken and Freddie...Read more
Crowd Fund Your Down Payment

Crowd Fund Your Down Payment

  Turn Wedding Gifts Into A Down Payment.   Have you heard of a crowd funding?  Of course you have, it’s everywhere, helping to produce new products and technologies, lend support to those in need, and get new businesses off the ground.  But did you know you can use crowd funding to help buy a home? More and more young couples are foregoing toasters and flatware and are requesting cash donations instead to help fund the wedding, honeymoon travels, and even the down payment on a new home!   Let’s be clear, you can’t just launch a Kickstarter campaign and try...Read more

How To Save A 20% Down Payment

  If you're looking to buy a home, it's never too soon to start saving.   Living in sunny California is going to cost you.  The west coast is home to some of the most expensive real estate in the nation.  Many are tempted to take advantage of loan programs with low down payment options to reduce the initial out-of-pocket investment.  Saving for a down payment of $50,000, let alone $100,000 or more seems insurmountable to many would-be homeowners.  But keep in mind, anything less than a 20% down payment will require private mortgage insurance (PMI), an added fee that...Read more
Down Payment Insurance?

Down Payment Insurance?

Down payment insurance is now offered to help homebuyers regain confidence in the security of their investment.   With the housing bubble burst still fresh in everyone’s mind, would-be homebuyers are understandably apprehensive about entering into the real estate market.  Foreclosures surged at an alarming rate at the height of the housing crisis, with almost 4 million foreclosures filed in 2009.  Even though the real estate market has recovered considerably, some homebuyers are still nervous about making a real estate investment. In an effort to alleviate some of those fears, a new type of insurance is being offered to protect...Read more