2 Niche Programs we are loving right now for 1st time Homebuyers:
1) Â EOM:Â For example, in Sonoma County if the borrowers income is under $96,400 they can qualify for our EOM program.Â This program requires 10% down but requires NO MORTGAGE INSURANCE.Â This is a great program for borrowers.Â 30 year fixed rate loans with great rates. In Marin, SF and Contra Costa we can do 5% with no MI!!!
2) Â CHF Platinum: For example, in Sonoma County as long as the borrower makes under $97,800 they can qualify for CHF platinum.Â This program requires only .5% down. It is a FHA loan where the borrower comes in with .5% and CHF gives them a 3% grant for their down payment. Unlike many down payment assistance or grant programs that require additional hoops to jump through this one is super easy and we can close in under 25 days.
Â· Â Â Â Please email or call us for additional County limits and more details.
Rough look at rates:
FHA 30 year fixed(no points) : high 3â€™s to low 4â€™s
FHA 203K: low 4â€™s
Conventional 30 year fixed: low 4â€™s
15 year fixed conventional: mid to high 3â€™s
BE Wary:Â We will be staying away from USDA until all is clear you may want to too
Annually, at this time of year, USDA usually runs out of funds on September 30th and some years funding is disrupted for a short time.Â Â Â Usually takes 1-3 weeks for USDA to get new funding in place. What is different this year is that the USDA did not run out of money, rather, the fiscal year ended and the money needs to be appropriated by the government, and thus the few week waiting period.
If loans donâ€™t have the Conditional Commitment from USDA by this Friday the funding of those loans may be delayed a few weeks.
â€œNothing diminishes anxiety faster than action.â€ ~ Walter Anderson
Jennifer Ready & Julie Bell 707-542-5090 Jready@mmcdcorp.com email@example.com .Â
Yes, we answer emails on the weekendÂ