Mortgage Lenders

What You Should Know About Down Payment Gifts

What you should know about down payment gifts

What you should know about down payment gifts with a mortgage is a fabulous blog written by our preferred lender, Dan Tharp.  Enjoy — JaCi Wallace. With an extreme lack of inventory facing so many of my buyers right now, they need all the help they can get. The biggest obstacle for many is the lack of money for a down payment. Thankfully, one solution is to get some help in the form of a gift from a family member, close friend, or a charitable organization.

As a mortgage professional, I have become very familiar with the IRS code on this topic. There is so much confusion regarding the tax implications of giving a cash gift to help a loved one buy a home. Before I delve deeper into this, a disclosure: I am not a licensed tax preparer and don’t ever want to be one – I have mad respect for tax professionals. This article is not to advise specific tax guidelines but instead give some useful, general information to help lead you in the right direction. Please seek a tax professional for more detail. read more

What You Should Know About Down Payment Gifts

Home values are up can you still afford to buy?

Home values are up can you still afford to buy?

Home values are up can you still afford to buy? This is a monthly post from our preferred lender, Dan Tharp, Enjoy as it’s a good one! Home prices in California are going up and will probably continue to do so. Does that mean they are less affordable?

The news can be misleading and confusing as it recently touted the significant move higher in the median home price, currently up 15% nationally versus last year. And 14.3% in Sacramento County, says the Sacramento Association of Realtors. 15% sounds awfully high. But the median home price does not measure appreciation. Instead, it marks the middle price point of recent home sales. read more

Home values are up can you still afford to buy?

Why Don’t I Have the Best Rate?

Why Don't I Have the Best Rate?

Why don’t I have the best rate? An amazing blog below from our team preferred lender, Dan Tharp. Enjoy, a very good read. — JaCi Wallace

Without fail, the number one question I get from first-time callers looking to refinance or purchase a new home is “what’s your rate?” I used to stumble a bit when asked this question because there is so much involved in getting an accurate interest rate and one that I can’t answer in a 30-second conversation. I wish it were that easy. read more

Why Don’t I Have the Best Rate?

A New Tax On Mortgage Refinance

A New Tax On Mortgage Refinance

A new tax on mortgage refinance is a brilliant blog written by our fabulous lender, Dan Tharp, with Guild Mortgage. –Enjoy, JaCi Wallace. Dan has some good news and some bad news. Here’s the bad news first.

Last week, the Federal Housing Finance Agency (FHFA) announced a surprise fee on all new refinance transactions sold to Fannie Mae and Freddie Mac. This is making up approximately two-thirds of all loans. The cost was assessed regardless of the bank or mortgage company you choose to work with . End result, it will increase the interest rate that you had been expecting and had been available.   read more

A New Tax On Mortgage Refinance

The True Cost of Waiting to Buy A Home in Sacramento

The True Cost of Waiting to Buy A Home in Sacramento

The true cost of waiting to buy a home in Sacramento, as written by our fantastic lender, Dan Tharp, with Guild Mortgage., Enjoy. — JaCi Wallace.

I know shopping for a home today is hard work and very frustrating at times. Inventory is low, and demand is high – It may take many offers, and a few tension-filled bidding sessions, before you land that home. Buyers can quickly get discouraged and say, “I am tired of this. I am just going sign a new rental lease instead and try this again in 6 months to a year”.  read more

The True Cost of Waiting to Buy A Home in Sacramento
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