Found 2 blog entries tagged as Bank Loans.

The busiest home buying season of the year is about to arrive, and it has just developed into one of the best times for sellers in years.  A lot is going on, in and around the San Francisco Bay Area, that affects the value of a Piedmont or Oakland home.  Here are some of the elements at work:

1. Lack of Available Homes On the Market--Throughout the Bay Area, the inventory of available homes is extremely low.  This means that motivated buyers are competing against each other for fewer homes. Additionally, it means that home prices are rising dramatically, as buyers compete fiercely against each other to purchase the limited home stock.  An indication is that last year's February's median single family home price in the immediate nine bay area…

1728 Views, 0 Comments

Read Full Post

Sooner or later, every buyer has to submit information to a lender regarding their credit history.  This information will be critical as a means by which a decision will be made as to whether the potential buyer will qualify for the loan to purchase their future home.  This is a time that makes many people anxious because they are not quite sure how their credit is evaluated. So, whether you are considering a Piedmont home or an Oakland home, the format remains the same. 

Right now, 90% of the largest banks use what is called a FICO score to make that decision.  This FICO score is used throughout the industry to determine your mortgage rate, as well as your car loan and your credit card monthly interest fee. 

This credit rating is a number that is…

1585 Views, 0 Comments

Read Full Post