Some early rain didn’t deter attendance this past Saturday at our Home Buyer Workshop. We even had a few children and a dog! We were very happy meeting many San Francisco and Bay Area home buyers interested in how to best approach purchasing Residential property in today’s market.
Eileen Birmingham, my co-host from Zephyr Real Estate, presented statistics of what has sold and is selling, market predictions for 2014, and what to expect once your offer is accepted and you are officially in Escrow to purchase a new property. I focused on the importance of getting fully pre-approved for your loan before starting your home search to aid in narrowing down to your exact price range and to have complete understanding of what will be required of you to complete your loan during the purchase process. We demonstrated what it takes to be highly competitive from a well prepared standpoint while maintaining a smooth and stress free transaction.
Our event was held at my office in Potrero Hill off 18th street. It was a great spot for the event, with plenty of free parking outside – always tough to find in San Francisco!!
We are planning future workshops, so if you’re interested in attending just drop me an email any time and I’ll keep you updated once we set the next dates.
Thanks again to everyone that attended! It was great meeting you in person!
Nice newsletter. Good article. Good information. Thank you. Carol
For conventional financing, borrowers with scores at 740 or anywhere above generally receive the same loan pricing (rate and cost). That being said, the better your credit the higher your chances of receiving loan approval with high debt to income (up to 50%) or high loan to value (up to 95%) which can be a major benefit when applying for a new loan. For Jumbo financing, borrowers with credit scores above 800 are generally rewarded with both better pricing and easier guidelines. There are no situations where better credit is a negative when obtaining new financing so we should all continue to strive to reach and then stay in the 800’s.
What are the advantages of a score over 800
Thank you Mike for this information. As a residential realtor the information that you provide is crucial to a successful transaction for my clients. You are indeed a pleasure to recommend to all of my clients. You are so professional, thorough, conscientious and pleasant to work with. !!
Hi Dane! Wanted to make sure I'm clear on this. Am I right in saying that on whichever remodel is done you still take a loss rather than an increase in value - the ROI will never exceed 100% of cost?