Why many home buyers choose FHA loans in San Jose?

One of the most intimidating challenges of buying a home is selecting and getting approved for a mortgage loan.  There are many types of loans out there to choose from, and if you are not familiar with the differences between them, and how they relate to your personal financial situation, it might be difficult to make a good choice. It is here where a professional mortgage broker will help you in choosing the best mortgage loan to suit your needs.

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Let’s discuss here FHA loans and why home buyers prefer FHA loans in San Jose.

An FHA loan is insured by the government and is a good option for homeowners with low credit scores. It is also suitable for those who have not saved much for a down payment. FHA loans are available as both fixed as well as adjustable rate mortgage loans. You can also use it to refinance your home.  It is a good option for first home-buyers who may not have saved much for a down payment. An FHA loan is also a good option for those who had credit problems in the past to own a home.

Remember, there is no one-size-fits-all home loan option in today’s San Jose market. You need to put in a lot of efforts to make a smart decision. You can also take help of online mortgage in San Jose to compare different options. This will make your job easy.

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Are you ready to discuss your loan requirements with a mortgage broker?

If you are in need of commercial loans in San Jose in 2017, finding the right money lender and the loan can be an overwhelming process. There are a few questions you need to answer as they are critical in putting you in the right direction.

Commercial loans San Jose
Commercial loans San Jose

Here are the critical questions you need to answer.

  • Why you need a loan?
  • How much loan do you need?
  • How soon you need money?
  • How long will you take to pay back the loan?
  • What is your current financial situation?
  • Are you in the position to pay EMIs?

Answering the above questions will put you in a situation where you can make the decision in the right manner. You will become clear whether you want commercial loans in San Jose through a bank, a cash advance, a line of credit or a loan from a money lender.

Next, you need to find out what loan options suit you. There are many loan options available in the market, for example, FHA loans, 30 and 15 year fixed rate loans, VA loans, jumbo loans and more. You should take help of a professional mortgage broker to guide you through the process. The best option is to take help of Cynthia Trinh who is well-experienced in the market for real estate and different types of loans. She can even help you in getting the lowest interest rates in San Jose on different types of loans.

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.

 

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.

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.

Home Loans

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/