When I was much younger, my mother would always warn me to wear clean underwear in case I was in an accident. She didn’t want any son of hers to be taken to the hospital wearing dirty underwear.
First time homebuyers in Temecula, Murrieta and other areas of Riverside and San Diego County who are beginning their home search, would be advised to check their Jockeys, Fruit of the Looms and Hanes before they begin the search for their first home. (more…)
Posts Tagged ‘First Time Home Buyers’
Temecula Real Estate – First Time home buyers should wear clean underwear!
Sunday, July 18th, 2010
Temecula Real Estate – Do you know what lender looks for in a first time home buyer loan? Part 4
Wednesday, July 7th, 2010If you’re a first time home buyer, financing is one of the most important pieces of the first time home puzzle. For a lender to get a complete picture of your financial situation they will evaluate four areas in your financial picture.
Like the four legs of a chair, the four pillars of a loan application are mutually supportive, and require each to carry its own weight.
Previously we’ve discussed:
Credit History
Asset
Income
The fourth and final leg of the loan application chair is Reserves. The new catch phrase for Reserves, is your “skin in the game” and it refers to how much of your money you are bringing to the closing table.
First Time Home Buyer Loans
It’s been a long held tenant of loan underwriting, that the more “skin in the game” you have the less likely you will be to default on your mortgage payments.
Here are a few things you should know about Reserves: (more…)
Temecula Real Estate – Bargains for first time home buyers
Friday, July 2nd, 2010The real estate markets in Temecula, Murrieta, Riverside, San Diego, and other parts of Riverside and San Diego county are offering outstanding bargains for first time home buyers. That’s not really a “news flash” but Southern California historically has ranked among the least affordable markets in the country, but according to the NAR that’s changing but maybe not for long.
Temecula Real Estate Foreclosures are a bargain
According to the NAR (National Association of Realtors) affordability in Temecula, Murrieta and other portions of Riverside County actually exceeds the national average, which is a complete 180 degree turn from just three years ago. (more…)