Down Payment Assistance Is Now Easier To Qualify For in San Diego County!

EXCITING NEWS!!

Down payment assistance is now getting easier to get and if you’re a policeman, fireman, or teacher.  Your down payment assistance is now not repayable under the Golden State Finance program updates.

It’s easier because income limits are rising. In the past, it’s always been hard but now in San Diego County, the income limit now is $163,600. So if you’ve spoken to a lender about down payment assistance in the past and they told you “no,” that you made too much money, check again. This program might work for you now.

What if you aren’t a fireman, teacher, or a police officer? Can you still get down payment assistance?

YES! The same grants are available so if you are one of those professions, you immediately don’t have to pay back any money if you were to sell the home. If you are not one of those professions, you just have to live in the house for three years and then you can move. The debt’s forgiven!! after the third year.

What does my FICO score have to be in order to apply for this?

Only a 640, it’s such a great opportunity for so many people.That is great, what does that mean? It’s a great time to buy while the interest rates are low, don’t get priced out of the market, and put off buying a home, now is your time.

Real estate Questions? #CallCristobal!

The Vegan Realtor

Vegetarianism has been around for a very long time. The term “vegan” was coined in 1944 by a small group of vegetarians that were against eating dairy products.

Vegans chose not to consume dairy, eggs, or any other products of animal origin, in addition to refraining from meat, as do vegetarians.

Why do people become vegan?

  • Ethics
  • Health
  • Environment

We decided to cut dairy, eggs and animal-related products after we discovered that my wife had Osteopenia a year after she gave birth to our oldest daughter, she was getting lab work done almost every week for nearly two years without an answer to why she developed it.

She started researching on her own and found another woman in the same situation, and her issue went away after they made the diet change. She decided to try it. I fully supported her; I saw in her eyes that she genuinely meant it and believed that a diet change might help her improve her health, so we did.

We went cold turkey, literally changed our diet overnight and pretty soon we realized it wasn’t about eating salads, we were hungry. We hired a Holistic Family Nutritionist and Vegan Expert, and with her support, we made a successful dietary change. We monitored our health with blood work, especially our daughters now five years old and two years old.

The first change we noticed was weight loss; then our energy level went up, and we became very sensitive to food that has dairy, eggs, or any animal-related product. 

To wrap it up, we have been on this diet for almost three years now, and we enjoy it, it’s becoming a lifestyle now, we learned how to balance our meals to get all the nutrients that we need, especially for our little ones and we haven’t looked back ever since.

Youtube: Cristobal Jimenez Priego REALTOR

Questions? #CallCristobal!

Pre-Approval vs Pre-Qualification

Why do you need an Approval rather than just a pre-qualification? It can end up costing you thousands of dollars if you indeed aren’t qualified. We’ve helped save hundreds of buyers from making huge mistakes when purchasing that could cost thousands of dollars.  

A pre-qualification is NOT an actual approval, its the initial step in the home loan process where you discuss your financial situation with the loan officer, but nothing is verified.  

The approval is where the buyer provides the lender with all of the necessary documentation to tell them what they are approved for, which loan product is the best option for them and give the buyer better idea of the interest rate.You want to go through the entire approval process.  

The lender has done things like verified your employment, seen your taxes, looked at your bank statements, they’ve verified everything you will need in order to let you know how much they will loan you and what your payment will be.  It’s essential that you get pre-approved. Otherwise, you could stand to lose your initial deposit and any money that you’ve spent on things like inspections or the appraisal.

Don’t fall into that trap, call us and let us walk you through the safest and most strategic way to become a homeowner and don’t forget, it’s free to have an agent represent you, the seller pays for our fees, but we are here to protect your best interest.  

Real Estate Questions? #CallCristobal!

Mortgage rates falling constantly

Mortgage rates fell very drastically since October of 2016 because of the failing economic data.

According to Freddie Mac, the 15-year fixed-rate mortgage moved down 6 basis points to an average of 3.00%.

Mortgage rates roughly track the direction of the 10-year Treasury note +1.69%. The yield on the 10-year note has generally fallen since mid-August, though this week it began to show signs of a rebound amid growing optimism sparked by planned trade talks between the U.S. and China.

The rates for 30-year home loans have only increased more or less 9 times this year and have decreased or remained the same for weeks.

The latest edition of the Beige Book was released by the Federal Reserve on Wednesday. The Fed’s stated a hopeful side of the economy but did not leave out the risks. Because of this, many analysts expect the Fed to cut interest rates by 25 basis points when it meets later this month.

“If there were some sense among Fed staffers that the rate cut should be postponed, they certainly did not establish a defense of that position in this Beige Book,” Ward McCarthy and Thomas Simons, Jefferies’ Chief Financial Economist and Senior Money Market Economist, wrote in a research note Wednesday.

Freddie Mac wrote, “Mortgage rates continued the summer swoon due to weaker economic data. While economic growth is clearly slowing due to rising manufacturing and trade headwinds, economic fundamentals are still solid for U.S. consumers.”

President of St. Louis Federal Reserve, James Bullard, pointed out that a 50-basis-point trimming may be what’s needed to keep the Fed ahead of the curve on international trade’s effect on the U.S. economy.

Moves by the Fed don’t directly trigger moves in the mortgage markets, since the Fed manipulates short-term interest rates and not long-term rates like those on mortgages.

Still, the Fed’s are typically baked into mortgage rates in advance of an expected cut to short-term rates. Because of this, people who are having a new home can expect lower mortgage rates in the coming weeks as the Feds are expected to cut down rates.

Real Estate Questions? #CallCristobal!