With all this recent increased activity inÂ residentialÂ real estate market, one wonders whatÂ financingoptions are folks using to purchaseÂ Single Family Homes.Â Is cash ensuring a guarantee that you will get that home in this tight market?Â Are banks still approving folks for conventional andÂ FHAÂ type loans.Â Is there any hope for folks without all that cash?
TakeÂ a look at the attached chart (data derived from mls) and as you can see that (70%+) of the single family detached homes inÂ Livermore,Â Pleasanton,Â San RamonÂ and Danville areas were purchasedÂ with conventional financing. Almost (20%) of homes were purchased with cash in Danville and San Ramon markets, with Livermore about (18%) and Pleasanton around (14%).Â Believe it or not FHA financing is still going through -Â with Livermore market being as the highest percentage (10%) .
So, donâ€™t lose hope.Â There is still a possibility that youÂ mayÂ get Â your dream house provided you qualify forÂ conventional loan and maybe with FHA financing.
Let me know if you need assistance with your financing options.