Wednesday, June 18, 2014 / by Nicole Solari
When it comes to real estate loans, you'll find that there are many options. Figuring out which loan or loans are best for your new property purchase can be confusing, but I can help. Here are some types of loans you might investigate.
Conforming Loan: When a loan conforms to the guidelines of FNMA/FHLMC (Fannie Mae/Freddie Mac) in both terms that may be purchased by FNMA or FHLMC it is conforming. Loans that do not match these guidelines are non-conforming loans. If the loan does not conform due to its amount, it is a Jumbo Loan. Conforming loans may have either fixed interest rates or adjustable interest rates.
Conventional Mortgage Loan: When the loan amount is within the FNMA/FHLMC guidelines, and the federal government does not insure or guarantee the lender payment through the FHA or VA, the loan is conventional). Conventional loans may have either fixed interest rates or adjustable interest rates.
FHA Insured Loan: Loans insured by the ...
Wednesday, June 11, 2014 / by Nicole Solari
Keeping Cool During Summer
Like many of us in Solano County, rising temperatures can be not only a blessing but also a curse. If you are blessed enough to have a HVAC system in your home then you may not be aware of the struggle to keep cool during the hot summer months. For those of your without an AC (or those of you who are cheap like me and keep the thermostat up) here are a few simple helpful tips can make the summer months much more bearable.
Use Fans Strategically
As many know fans can provide a huge relief from hot summer days. Always make sure your ceiling fan is rotating in the correct direction as to direct airflow downwards, instead of upwards. Placing stand-alone fans directly on you from any distance will also be sure to lower your body temperature
Eat Cold Meals
Eating cold meal and drinking cold drinks can also help to lower your body temperature. Also refraining from cooking in the oven, or on the stove can great ...
Wednesday, June 4, 2014 / by Nicole Solari
I talk to people everyday who have lost the equity on their home. I think there are a lot of misconceptions about short sales that make people choose to continue to struggle instead of opting for a chance to rebuild their dream.
1. Myth: The loss in equity in my current home is only on paper.
Fact: Negative equity is a real thing! You are weighed down by a debt that can take 15 - 20 years to recoup. Your mortgage payments may be double that of your neighbor for 30 more years.
2. Myth: I have a moral obligation to repay my entire loan.
Fact: You entered into a business arrangement with your lender. You have already lost 100% of your investment - your down payment. A lender charges interest because they know their investment is at a risk. You have paid that interest. A short sale is there to protect you and allow you to get a fresh ...
Friday, May 30, 2014 / by Nicole Solari
We have often suggested that potential home buyers consider rising interest rates when thinking about the true cost of a home. Remember, cost is not determined by price alone but by price and mortgage rate. The longer a buyer waits, the higher the mortgage payment will be if rates continue to increase (as is projected by Fannie Mae, Freddie Mac, the National Association of Realtors and the Mortgage Bankers Association).
Money Magazine, in its latest issue, agreed with our analysis as they also warned their readership of the same ramification if they waited to buy a home.
Here is what they said:
“BE MINDFUL OF RATES. The average interest rate on a 30-year fixed loan is predicted to climb from the current 4.4% to 5.3% by the 2015 spring buying season, according to Freddie Mac. For a $250,000 loan, that means that a borrower who waits would pay $136 more per month and an additional $49,090 in interest o ...
Thursday, May 22, 2014 / by Nicole Solari
So... the 1980's called and they really want their wall paper back. Don't get me wrong - there's some good things that came out of the 80's (i.e. Pac Man, Lisa Frank, New Kids on the Block, MJ...) but that dated wallpaper MUST GO. You go right ahead and get offended and a little angry with me but if you want to sell your home and get the most money from it invest in some wallpaper remover.
Oh... and if you have the matching curtains to go with the wallpaper kudos to you for being so 1982 trendy but let's get rid of those too. It really does not cost that much to do a little painting and have the paper removed and you will be so glad you took the time to do it when you list your home!