Are you financially ready to buy a home loan?

Taking home loan for the first time home buyers like you can be a challenging task as there are many things that will cloud your mind. Doubts like whether it is the right time, which bank or lender to seek a loan from, which property to choose, etc will strike your mind. Some first home buyers are almost careless when finalizing a home loan deal and end up realizing their mistake of not doing the homework or research work properly. So when you are choosing a home loan, make sure you know the details of different options available and your capacity to make repayments.

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Before choosing any home loans in San Jose, evaluate your monthly cash flow and find out ways to save as much as you want. You should get your basic calculation right. You should access your income as well as expenditure details regularly so that you can find out what expenses you can cut down, how much money you can save and how much repayment installments you can afford. Once you are convinced you are saving enough and to the best of your potential, you should move ahead for short listing the best home loans in San Jose. Once you have a fair understanding of your buying capacity, analyze what you can afford and do not be in a hurry while selecting a home loan. Never select a property that will put more financial burden on you.

To get the best deal, you should get in touch with a professional with good knowledge and experience in home loans and commercial loans in San Jose. A mortgage broker who can assist you in best possible way is Cynthia Trinh. Contact Cynthia Trinh to know more about commercial and home loans in San Jose.

 

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What will a mortgage broker do for you?

Many home buyers exactly do not know what a mortgage broker in San Jose, CA can do and they can’t. And why it is a good decision to pay for their services? Mortgage advice from an expert can be an invaluable service. A professional with vast knowledge and experience of the mortgage market in San Jose are qualified to give you advice on best mortgage rates. They will help you choose lowest interest rates.

Mortgage brokers in San Jose CA

The mortgage criteria have tightened extremely over the last few years. The mortgage rules available with the lenders and the loan interests keep on changing. So it is important to stay in the loop, and have one of the most professional mortgage brokers on your side who understands everything that is important. A broker deals with a lot of lenders on a daily basis. So, they know how to fill in the application form with the lenders, and can tell you which lender can process your application within minimal days.

You are also protected when you choose a mortgage expert to help you choose the best option. When you receive mortgage advice, it is the duty of your advisor to take care of you. They will guide you at every step and recommend you tips to get the best deal. An experienced mortgage broker in San Jose CA is Cynthia Jose. She has helped many home buyers and business owners in getting the best deal for their mortgage requirement. You can also get in touch with her if you are looking for lowest interest rates.

What are FHA Loans? Are FHA Loans For You?

An FHA loan is a home loan insured by the FHA, Federal Housing Administration. If you are a first time home buyer and have a credit score of 580 or more, then with an FHA loan, you just need to make a down payment as small as 3.5%. However, you need to pay a monthly mortgage insurance premium against the loan, which shields the lender in case borrower defaults.

Unlike conventional mortgages, FHA loans are secured by a government that safeguards the lenders, allowing them to offer potential borrowers more competitive interest rates on traditionally more precarious loans.Since FHA loans are government-backed; they come with easier qualifying criteria, relatively low closing costs and down payment requirements.

FHA home loans in san jose

You can browse the Internet to get in touch with a reliable FHA-Approved lender if you are looking to secure an FHA loan in San Jose.

Are FHA Loans the Right Choice For You?

While an FHA loan may sound really good, it is not for everybody. Usually, people having a credit score of less than 500 are not qualified for an FHA loan.

Also, borrowers who can pay for a large down payment may better off go with a conformist mortgage solution. This way they can save more money in the long run by way of lower interest rates and mortgage premiums that conventional lenders offer.

In case your requirements are specific or you are looking for an online mortgage in Bay Area, you can check out the different websites and the interest rates they are offering. Also, talking to an FHA advisor can help you better determine whether this type of mortgage is right for you or not.

Getting a mortgage loan online offers many benefits

Today, when it comes to financing their homes, individuals are taking advantage of sweeping advances in mobile technology and electronic banking. The reason for this is more convenience and flexibility. Home buyers choosing the option of online mortgage in San Jose find browsing, researching, comparing interest rates and applying for home loans easier than ever before.

The biggest benefit of choosing online mortgage in Bay Area is the wealth of choices. Rather than flipping through portfolios of the mortgage options banks offer, online mortgage loan buyers have the flexibility to research, refer and compare before making the final decision.

mortgage rates san jose

Secondly, you have access to tools like mortgage calculators. Shopping online for the mortgage in San Jose offers a more interactive experience.  You can calculate your monthly payment rate projected over a period of 10, 15 or 20 or 30 years to fit your financial plans. The mortgage calculators are specialized for different situations. You can also get real-time updates from the mortgage experts as many online mortgage lenders in Bay Area provide real-time client chat within the website. They are always ready to provide exceptional services to their clients. So you stay connected at all time and keep getting latest updates related to mortgage loan market.

The service of online mortgage in San Jose involves less hassle. You can browse, and select the right mortgage on your own time rather than having to visit a mortgage broker during regular business hours. 5 Star Lending offers you the facility to apply online for mortgage loans. You can get in touch with Cynthia Trinh for more information.

Higher credits score gives you more power to negotiate for better mortgage loan

When you buy a home, you are making a big decision. You have to shell out a large sum of money to buy your dream home. And definitely you will take a mortgage loan for a tenure of 15, 20 or 30 years. So it is smart to shop around to find the best mortgage lenders in Bay Area. To get a jump-start on the mortgage loan process, you should make a checklist of things you should consider. Though the list is huge, there are few things that are utmost important.

According to professional mortgage brokers in San Jose CA, the first thing you should do is to bring your credit score in shape.  Not everyone can qualify for a mortgage loan. You have to meet certain credit and income criteria to assure mortgage lenders you can repay your loan. A low credit score signifies that lending to you is risky. It also means you will have to pay higher interest rate on your home loan. Higher your credit score rating and more on-time payments you make, the more power you will have to negotiate for better rates with potential mortgage lenders in Bay Area.

You need to make sure your credit score reports are accurate and free of errors. Obtain your report from major credit bureaus for accurate results. Also, try to pay off high-interest debts. If you do so, your overall debt will get lowered. You will get success in improving your debt-to-income ratio. It is also a good idea to pay off your credit cards and recurring loans before you buy your dream home. It will free up more money for the down payment.

How to do research on mortgage rates?

In this fast paced life, the best way to do any kind of research is the Internet. You can search for just about anything and you will have surplus information available on your screen. So, if you wish to do a research about mortgage rates, then the Internet is one of the best choices. But, before you randomly head there, here a few tips to help you navigate easily so that you can find the best of the information.

Learn about different types of mortgage loans – Understanding the types of mortgage loans is a crucial step. In order to get the best rate that suits your requirement and financial need, you need to know exactly which loan you are choosing and what will be the terms.

Mortgage Rates

Know your credit score – Try to know and maintain a good credit score. Every mortgage loan takes consideration of your credit score. If you have a good credit rating then you can easily acquire good mortgage rates.

Know the rate details – There are a number of mortgage rates chart but you need to know what these rates are comprised of. Most of the credible sites showcase a note regarding the total number of points used to calculate the given rate. Higher the points lower the rates.

Remember, there are many websites which will showcase lower rates to lure you, so choose wisely. Also, if you cannot determine the rate details online then try to consult a mortgage broker. A reliable mortgage broker can help you get lower interest rates. Also, it will provide you complete information on San Jose mortgage rates and will help you choose the best loan.

To know more mortgage rates talk to Cynthia Trinh.

How to get value from your mortgage broker?

With future homeowners facing a bewildering choice of home loans, it is not surprising that many turn up to mortgage brokers in San Jose CA for help. If the advertisements placed by these professionals are to be believed, then they are the best guide for anyone who is looking for lower interest rates.

Cynthia Trinh

Use the following tips to ensure you are choosing one of the best mortgage brokers in San Jose CA and you are getting value from them.

Research well – You should research the market well. This will help you in assessing the recommended loans and quality of advice.

Prepare a questionnaire for the brokers – It is important to prepare a questionnaire for the broker. Then you should call them to compare what they have to offer.

Check the lender panel – You should check which lender panels are on the broker’s list and ask whether any are usually preferred, and why.

Explain your needs properly – Make sure the broker clearly understands your financial situations and your borrowing needs.

Ask about the discounts and offers – Many mortgage brokers in San Jose CA offer discounts and offers in order to build good customer relations. Sometimes, they refund a part of their commission.

Contact Cynthia Trinh to know more about mortgage brokers.

Seek professional help for getting best deals on commercial loans in San Jose

It may take a little time to understand the San Jose mortgage market and figure out which loan type is the best fit for your situation.  You should have an idea which type of loan you want and why you want.

There are many types of loans available in the San Jose market including 30 Year Fixed, 15 Year Fixed, and ARMs. Understanding these loan types is a little bit daunting. For example, here are a few questions that will crop up in your mind.

Commercial Loans in San Jose

  • What will be the tenure of the loan?
  • What installment you need to pay?
  • What are the risks?
  • What are the advantages?

You can take professional help to get answers to your questions. A professional with good experience of mortgage and commercial loans in San Jose will help you in the process of getting a loan. Many loan seekers in San Jose take help of Cynthia Trinh. Cynthia Trinh has good knowledge and experience of San Jose mortgage market. She provides right guidance, fast service, and professional client service.

So if you need help in getting the best deals on home loans or commercial loans in San Jose, contact Cynthia Trinh.

To know more about Cynthia Trinh visit her website: www.5starlending.net

Why now is the best time to sell your Silicon Valley home?

According to real estate market trends, the best time to sell your home is early March through June. There are two main reasons for this: it is when parents are seeking to relocate their families in time for their kids to start fresh at a new school, and it is also the time when buyers have their tax refunds checks in hand.

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Zillow, the real estate database, carried a study that showed the homes listed between May 1 and May 15 sold an average of 18.5 days faster than homes not listed during that time. The same study also indicated that these same homes sold for an average of 1% more than normal, translating to a value-add of roughly $1,700 on a $170,000 home. According to Zillow’s Chief Economist SvenjaGudell, in late May or early June there tend to be more buyers and due to the time pressure, they are more desperate than other times of the year so they are willing to close sooner and spend more. If you list during this time period, you can anticipate you will have more buyers motivated to make a deal because they want their kids settled quickly before school starts in the fall.

It’s true people want to move in and out of the neighborhood in conjunction with the school year. So if you are a smart buyer and want to make the best use of real estate market conditions, you should look in December and try to find a house that is been on for a long time. Generally, you will be able to negotiate with sellers in that situation because they are most likely motivated sellers.

A seller should also consider not only the best month but also the best day during the month to list their homes for sale. According to real estate agents, not all homes sell quickly, especially if they are not priced right and the timing is not right. A seller should list their home on the right day, which is Thursday. It has been found that homes listed on Thursdays are more likely to sell faster, above listed price compared to those homes listed on any other day of the week since buyers get ready to shop for homes on weekends. But unfortunately for sellers, only 18% homes are listed on Thursdays. Saturdays, Sundays, and Mondays are generally the worst times to first list your home.

The second best time of the year to sell a home is September-to-October but it is a distant second to spring when you will find more buyers in the market. Below is a chart showing the real estate activities over the last few months.

Work with Cynthia Trinh if you want to discuss the future sale of your home with a professional real estate agent. She will provide you with excellent customer service during the entire selling process. She will work diligently for your best interests to obtain the highest possible sales price for your house in the shortest possible timeframe. She will negotiate on your behalf, help you prepare your closing documents and guide you through the closing process.

Call Cynthia Trinh on 408-802-3680 to discuss your home selling needs.

APRIL 2017 PREVIOUS MONTH YEAR-OVER-YEAR
Median Home Price +5.8% $1,182,500 $1,117,500 +4.6% $1,130,000
Average Sales Price -2.7% $1,194,870 $1,227,850 +5.2% $1,135,490
No. of Homes Sold +14.3% 48 42 -5.9% 51
Pending Properties +19.3% 68 57 +51.1% 45
Foreclosures Sold N/A 0 0 N/A 0
Short Sales Sold N/A 0 0 N/A 0
Active Listings -8.3% 33 36 -34.0% 50
Active Foreclosures N/A 0 0 N/A 0
Active Short Sales N/A 0 0 N/A 0
Sales Price vs. List Price +4.1% 109.7% 105.4% +1.1% 108.5%
Average Days On Market -23.9% 10 14 -29.2% 15

Work with Cynthia Trinh if you want to discuss the future sale of your home with a professional real estate agent. She will provide you with excellent customer service during the entire selling process. She will work diligently for your best interests to obtain the highest possible sales price for your house in the shortest possible timeframe. She will negotiate on your behalf, help you prepare your closing documents and guide you through the closing process.

Call Cynthia Trinh on 408-802-3680 to discuss your home selling needs.

For more info visit: http://5starlending.net/

Homes this summer will be less affordable than previous year

The summer housing market is shaping up to be another doozy for those who want to buy their dream home. This year may be the starkest example of a post-recession reality for housing, and one that appears poised to redefine the regional market as we know it. All the signs are indicating that homes this summer will be far less affordable than they were this time last year.

Affordability is being hit on several fronts. The foreclosure catastrophe is over, but it left behind an entirely new landscape for potential home buyers. Entry-level homes are in short supply because investors acquired thousands of entry-level homes during the crisis and turned them into rental properties, thereby removing them from available inventory for prospective buyers. According to the U.S. Census, the number of single-family rentals jumped to more than 15 million, up from about 11 million in 2009.

Simultaneously, home builders are producing fewer new homes than in past years due to the increasing cost and short supply of skilled construction labor; thousands of construction workers have stopped doing business, never to return. For first time homebuyers this is particularly difficult because builders are not focusing on entry-level homes because costs are rising faster than selling prices resulting in margins that are simply too tight.

Also, the younger group of home buyers is delaying marriage and parenthood, historically the two most important factors driving home ownership. Potential home buyers today are facing challenging new realities. Competition is tough and buyers have to be ready to act decisively and quickly to win the bidding war to purchase their dream home.

More than ever, in a market like we have today, home buyers need to take careful steps to maximize their options on the larger to home ownership. As a buyer, the help of a professional with vast experience in the housing market can make the difference between a winning, and a losing, bid. If you are planning to buy a home in San Jose, in Silicon Valley or anywhere else in the Bay Area, Cynthia Trinh can be an invaluable resource and partner for you. She is a professional real estate and mortgage expert with good experience in the housing market.

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Cynthia Trinh has earned a professional recognition in mortgage and real estate market. She can help you make the right decision by helping you find one of the best home loans in Silicon Valley. She can help you track the actual current home loan rates available in the market and educate you on various loan options available to suit your needs. Whether you are a first-time buyer, move up buyer or are planning for retirement, Cynthia Trinh will be the best support possible in Silicon Valley.

Shop sensibly for mortgage to buy a home

Generally, people need a mortgage to buy a home which means they not only need to shop for a home but also for a home loan. According to expert mortgage brokers in San Jose CA, the number of people who do not shop around before setting on a mortgage is almost half.

They must. In fact, you may find more home loans to choose from to meet your needs. “Definitely you should shop around, “says Cynthia Trinh, owner of 5Star Lending and one of the leading mortgage brokers in San Jose CA. According to her, you should not just go with the first option you get. Shopping around for lowest interest rates will help you save money.

lowest interest rates

You should start looking for a mortgage expert before searching for a home. You want to make sure your credit is in order because mistakes can eat a lot of time to correct.  You need to know how much you can afford for a house and what exactly is your requirement. You can run your calculations both online and offline. A good mortgage provider will determine which loan is the best fit for you. They will make the entire process easy as getting best deals on a mortgage can be challenging as the fees and rates change on a daily basis.

Shopping for lowest interest rates in San Jose

Before you search for getting lowest interest rates in San Jose for your mortgage needs, it is important to determine how much you want to borrow, which type of mortgage you want and how long a term you need so that you can fairly compare lenders. Generally, mortgages fall into two basic groups, conventional and government-backed loans.

lowest interest rates in San Jose

Government-back loans are loans that are partially or completely insured by the government. They have less astringent borrowing requirements with low down payments, low credit expectation and more flexible income requirement. Targeted at first-time or low-income buyers, FHA loans, backed by the Federal Housing Administration are the best known government-backed loans. Home buyers looking for best loan mortgage options or looking for lowest interest rates in San Jose never miss comparing to get best deals. On the other hand, conventional loans are offered by private lenders, for example, mortgage banks mortgage companies and credit unions.

Shop online for the mortgage in San Jose and try to use online mortgage calculator to calculate the rates. You can work with a mortgage broker who will help you in getting lowest interest rates in San Jose. Even if the lender offers you the best rate, you can get a sense of what they are offering through a digital search and use of a  mortgage calculator. Also, remember to compare the total dollar amounts of different length times.  Understand the terms of the loan in order to avoid any confusion later.

For more info visit: http://5starlending.net/