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Steve Romero's Blog

By Steve Romero | Mortgage Broker
or Lender in San Jose, CA
  • Make Sure You Have The Right Team Working For You

    Posted Under: Using Trulia in San Jose, Home Buying in San Jose, Financing in San Jose  |  January 16, 2014 1:41 PM  |  911 views  |  No comments

    Buying a home is a transaction that you encounter two, maybe three times in your life. One of the most important decisions you will make are the support team that you select. Your support team includes your Realtor and your Lender. These are the people that should be there to guide you through a very stressful, yet exciting time.

    Make sure your Realtor is someone that has your best interests at heart. Do your homework. Make sure your Realtor is familiar with your desired area, and has done their research. Ask for references, if you feel the need.

    Your Lender is the reminder you receive every month for as long as you make your house payment. Make sure you ask them questions about the different programs that are available. Why is one loan program better for you, than another? Is your Lender accessible to you when you have questions?

    When you make a decision to buy a home, it's a big decision. A professional Realtor and professional Lender know that your satisfaction will be the reason why you come back to that person in the future, for your friends and your family.

    Make sure you have the right team working for you.

    Steve Romero
    Mortgage Planner
    23 Years of Experience and Advice


    © Copyright - 2014 Steve Romero

  • Buy With a Foreclosure or Short-Sale After 12 Months

    Posted Under: Home Buying in San Jose, Financing in San Jose, Foreclosure in San Jose  |  August 21, 2013 12:22 PM  |  1,107 views  |  No comments

    FHA has come out with new guidelines that allow a person to purchase a home just 12 months after a short-sale or foreclosure. You must be able to demonstrate that there were extenuating circumstances that led to the event, such as the loss of employment, illness, or loss of income resulting in a decrease of at least 20%. So called 'Strategic defaults' are not eligible. This program is not for everyone. FHA borrowers must have a minimum middle credit score of at least 640 to be eligible.

    If you are a person that meets this criteria and would like further information, please contact me at sromero@comstockmortgage.com .


    Steve Romero
    Mortgage Planner
    23 Years of Experience and Advice


    © Copyright - 2013 Steve Romero

  • V.A. Tip for Realtors and V.A. Buyers

    Posted Under: Home Buying in San Jose, Financing in San Jose, Military Movers in San Jose  |  July 17, 2013 9:01 AM  |  1,084 views  |  No comments

    Comstock Mortgage does not charge a Veteran an Origination Fee, which is usually the largest expense for a VA home buyer. Since Comstock Mortgage does not charge a Veteran the 1% Origination Fee, the Veteran is allowed to pay up to 1% of the VA non-allowables (processing/admin/escrow fee/notary).

    This may help when writing a V.A. offer, as the Veteran will not have to ask the seller to pay some or all of the non-allowables.

    I have been closing V.A. deals across California since 1991. Please let me know if you have any questions.

    Steve Romero
    Mortgage Planner
    23 Years of Experience and Advice


    © Copyright - 2013 Steve Romero

  • Some Home Buying Advice

    Posted Under: Home Buying in San Jose, Financing in San Jose  |  May 7, 2013 10:28 AM  |  1,005 views  |  No comments
    When purchasing a home, buyers should not apply for any unnecessary credit, which includes cell phones, new cars, credit cards, solar energy system, etc. The process of obtaining a loan is a snap-shot of a buyer's financial position that is used to evaluate the ability to repay a loan. Lenders will run a credit report right before they provide financing. Although it sounds like a minor issue, any last minute changes can delay closing of the transaction and result in additional hoop-jumping for a buyer.

    If you have any questions, you can always reach me at (650) 701-7228.

    Steve Romero
    Mortgage Planner
    23 Years of Experience and Advice


    © Copyright - 2013 Steve Romero
  • Attention VA Buyers: Great News!

    Posted Under: Home Buying in San Jose, Financing in San Jose, Military Movers in San Jose  |  April 12, 2013 9:06 AM  |  1,346 views  |  No comments
    Comstock Mortgage has eliminated the 1.0% Origination Fee on their loan products. The Origination Fee used to be the largest charge on the Buyer's Closing Statement.

    Example: a $500,000 purchase for a First-Time V.A. Buyer would have an Origination Fee of $5,107. That fee has been eliminated.

    This is great news for VA Buyers, resulting in less money out of your pocket to buy a home.

    Please let me know if you have any questions. I may be reached at 650-701-7228 or sromero@comstockmortgage.com .

    Steve Romero
    Mortgage Planner



    © Copyright - 2013 Steve Romero

  • Trying To Raise Your Credit Score?

    Posted Under: Home Buying in San Jose, Financing in San Jose, Credit Score in San Jose  |  March 19, 2013 11:18 AM  |  1,417 views  |  No comments
    One trick to raise your credit score is to pay your outstanding credit balances down to 33% of your available credit limit. Do NOT pay your account off and close the account. Your credit score is a function of your available credit, and closing an account actually eliminates an established credit line.

    If you're thinking of buying a home you need someone that can guide you through the process.You need an experienced Realtor and an experienced Lender to help you be successful. I help my customers manage their credit reports to help put them in a position to buy.

    I can be reached at 650-701-7228 or at sromero@comstockmortgage.com .

    Steve Romero
    Mortgage Planner


    © Copyright - 2013 Steve Romero

  • What Does It Mean When The Real Estate Market Is A 'Seller's Market'?

    Posted Under: Market Conditions in San Jose, Home Buying in San Jose, Financing in San Jose  |  March 12, 2013 10:32 AM  |  817 views  |  No comments
    A 'Seller's Market' is when the current real estate market is more favorable to a Seller than a Buyer. A lack of, or low inventory puts the Seller in a better bargaining position. As a Buyer, a Seller's Market may mean offers over the 'asking price' and less of a bargaining position for terms and conditions.

    It's even more important to have a good Realtor and a good Lender in your corner in a Seller's Market. Knowing the current market conditions, and the right programs available to you, may  keep you from missing out on the home of your dreams.

    I am available at 650-701-7228 or by email at sromero@comstockmortgage.com .

    Steve Romero


    © Copyright - 2013 Steve Romero

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