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Christopher Arco's Blog


"Good Neighbor Next Door" Program : Buy Your Next Home For 50% Off Listing Price
Updated Oct. 24, 2014
"Good Neighbor Next Door" Program : Buy Your Next Home For 50% Off Listing Price. HUD Good Neighbor Next Door program. The U.S. Department of Housing and Urban Development (HUD) is rewarding our nation's "good neighbors".. Through its Good Neighbor Next Door (GNND) initiative, HUD now sells homes for 50% off. If...
Downpayment Gifts : How To Give And Receive A Cash Downpayment Gift For A Home
Updated Oct. 24, 2014
Receiving a cash down payment gift for the purchase of your next home? You're not alone. Many U.S. home buyers do it.. "Down payment Gifts" Common In 2014. It's common for today's U.S. buyers to receive cash down payment gifts. First-time home buyers are most likely to receive a cash gift among all buyer...
Should My Preapproval Letter Be for a Higher Amount than the List Price?
Updated Jul. 31, 2015
If you are buying an $650,000 house in Orange County, and you have two buyers, with the same offer (for example: $635,000), and one borrower has a pre-approval of $635,000 and the other has an approval letter between $650k and $750k, othe seller might choose to go with the higher pre-approval amount, even though...
What do credit scores indicate to lenders?
Updated Jun. 27, 2016
As you move from the age of 20 into your 30s, 40s, 50s, and so on, a person's credit score will let lenders find out numerous things about you.In particular, it lets lenders find out the type of borrower you are. It will show them if you pay your bills on time the number of credit cards you have, and how much you...
If You Can Easily Afford to Buy A Home, Do You?
Updated Sep. 12, 2017
1. How Long Will You Be in the Area?If you're uncertain how many years you'll be in the area and even if you can afford a mortgage (and the associated taxes and fees that come with it), it's still may take 5 years or longer until you'll come out ahead with regards to buying vs. renting.. 2. How Old Are...
Buy With Cash And Then Get A Mortgage
Updated Sep. 28, 2017
More and more home buyers sidestep the traditional home financing process by using cash to purchase their home -- and then go to a lender later on to apply for a mortgage. with a lot less stress.. In housing markets with high demand, cash-offers are going to be king. However, coming up with the full purchase price of a...
What to Know About Home Closing Cost
Updated Nov. 1, 2017
The checklist to buy a home could go on for a long, long while. From finally locating the right home to employing the services of a home inspector, the to-do list may at times seem never-ending.. There is one part of the home buying process that's frequently confusing as well as being overlooked: closing costs....
Untruths About Your Credit
Updated Dec. 1, 2017
Are you making this credit score mistake?Many people believe that running up credit card balances, then making on time payments or paying it in full each month will build higher credit scores. This is nothing more than a FAIRY TALE!. You don't need to carry a balance or use your card in order to build credit...
Mortgage Rate Trends March 2018
Updated Mar. 4, 2018
What really spooked the markets this week was when President Trump pretty much out of nowhere and against the advice of Gary Cohn, began to tweet about applying tariffs on steel and aluminum, which triggered a sell-off of 420 points Thursday March 1st and Friday down another 390 at the open to only close down...
Buying a Home After a BK and Foreclosure
Updated Apr. 1, 2018
1. You'll Need To Endure a Waiting PeriodPrior to applying for a mortgage following a bankruptcy, you must be certain the waiting period has been satisfied. How long the wait is varies according to the type of mortgage you're applying for.. Chapter 7 Bankruptcy Waiting Periods for a...
Should I Combine My Debts into a New Home Loan?
Updated May. 10, 2018
Among the best ways to pay off your existing debt is through a debt consolidation loan. It enables you to consolidate various consumer debt balances into one loan, commonly referred to as a "debt consolidation loan". This type of loan pays off specific creditors whose terms are not very favorable. If you have a very...
3 Valuable First Time Buyer Tips
Updated Sep. 30, 2018
The fact you're thinking of becoming a home owner for the first time may cause a variety of emotions such as excitement and anxiety. While it may be extremely difficult to get rid of all the anxiety that accompanies a person's first home purchase, you can likely reduce it by going into the situation...
Choosing a Term for your Mortgage
Updated Mar. 11, 2019
People who are buying a home for the very first time commonly go into the mortgage process not so knowledgeable about the type of home loan that is best for them. The terms for a mortgage can vary widely from one lender to the next. Many think they have a full plate when it comes to picking out a house yet they need to...
Do Not Put These Debts On Your Credit Card Before Applying for a Mortgage
Updated Nov. 29, 2018
Credit cards make paying for things a whole lot simpler, but the drawback is that you get hit with large interest payments down the road. Even though you are able to pay for it with credit doesn't mean it's smart. The following is a list of items you should not pay for using your credit card:1. TaxesIf you...
How Home Buyers Can Be Prepared to Make Offers
Updated Jun. 12, 2019
If you've made the decision to start shopping for a home in Orange County, California, a mortgage pre-approval can help you make it a less stressful process. This is even more the case if you're buying a home for the first-time as you can become inundated with requests. It is a very smart choice to get a...
FHA Credit Scores: Who Qualifies?
Updated Jul. 3, 2019
FHA loans are among the leading home buying programs for borrowers.One of the big reasons for its success is because of lower credit score requirements.. Actually, the guidelines may allow a borrower with a 500 score to be eligible for FHA financing. However, there are numerous conditions for that to be possible...
Rental Property Owners Tapping into Equity
Updated Aug. 1, 2019
The average home price in Orange County, California is up 16% since 2014 to $766,200. However, the median home price in 2018 was $774,700.. With interest rates at multi-year lows in 2019, it's an ideal time to tap into that grown equity before the market softens more.. This offers real estate investors an opportunity...
Rates or Home Prices: What's More Important to Buyers?
Updated Sep. 2, 2019
When searching to a purchase a home, there are various factors that determine the maximum loan you can afford. Two of the most important are mortgage interest rates and home prices. Is it better to look for lower priced homes or search for the lowest interest rate? Let's look into this more to come up with the...

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