Monday, December 14, 2020 / by Alison Bognuda
If you’re currently feeling the stress of affording your mortgage payment, or if you know someone who is, there’s still time to get help. For homeowners experiencing financial hardship this year, the CARES Act provides mortgage payment deferral options, creating much-needed relief in these challenging times.
It’s important, however, to understand how forbearance works. It’s not automatic. You need to take action now and apply for the program before these options expire.
A study by the Urban Institute determined:
“Approximately 400,000 homeowners who became delinquent after the pandemic began have forgone forbearance and become delinquent. These borrowers may not know they are eligible for forbearance.”
Thankfully, there’s still time to apply for forbearance, even if you’re just learning about it now. Doing so may be the game-changer you need to stay in your home, just when you need it mos; ...
real estate, keenan carter group, keller williams, central coast, real estate during covid 19, mortgage, housing economy, economy during covid-19, forebearance, foreclosure, how to file a claim, preforclosure, forbearance, how to file for forbearance, cares act, applying for forbearance, things to know about forbearance, home loan assistance, mortgage assistance, home owner advice, homeowner tips
Friday, December 11, 2020 / by Alison Bognuda
Once you've found the right home and applied for a mortgage loan, there are some KEY things to avoid so you continue to qualify for your loan when it's time to close on your home.
#1. DON'T Deposit Any Cash Into Your Bank Accounts Before Speaking
To Your Banker Or Loan Officer.
While normally we celebrate depositing money into an account, you don't want to put any 'sizable' amount of funds in an account while you're waiting for a mortgage loan. Unless you can prove the deposit is legit, that additional money can lead to the Underwriter denying your loan.
#2. DO NOT Make Any Large Purchases, Like A New Car
Or Furniture For Your Home!
We know it's tempting to want a new ride to park in your new garage or want to furnish your new pad ... WAIT!!! This can affect both your credit score and debt to income ratio, which can cause the amount you initially qualified for to be reduced. Not to mention, racking up additional debt before factoring in a mortgage payment m ...
real estate, keenan carter group, keller williams, home buyer, san luis obispo county, home purchase, first time home buyer, mortgage, pre approval, pre qualified, home loan, for home buyers, loan approval, tips for home buyers, don't change jobs, don't switch banks, home loan application, home loan dont's, mortgage avdvice, what to avoid when applying for a home loan, what to avoid when applying for a mortgage
Tuesday, October 13, 2020 / by Alison Bognuda
One of the biggest misconceptions for first-time homebuyers is how much you’ll need to save for a down payment. Contrary to popular belief, you don’t always have to put 20% down to buy a house. Here’s how it breaks down.
A recent survey by Point2Homes mentions that 74% of millennials (ages 25-40) say they’re interested in purchasing a home over the next 12 months. The study notes, “88% say they have significantly less savings than the average national down payment amount, which is $62,600.”
Thankfully, $62,600 is not the amount every buyer needs for a down payment in the United States. There are many different options available, especially for first-time homebuyers (millennial or not). That amount can also be significantly less, depending on the purchase price of the house.
According to the National Association of Realtors (NAR), “The median existing-home price for all housing types in August was&nbs. ...
real estate, keenan carter group, keller williams, central coast, home buyer, san luis obispo county, home purchase, first time home buyer, buyer's agent, down payment, home loan, interest rates, minimum down payment, down payment percentage
Friday, April 10, 2020 / by Alison Bognuda
Darling, white picket fence, gated community of Arborwalk welcomes you home! This 2 story home has 3 bedrooms & 2.5 bathrooms, all bedrooms located on the second story. The downstairs living area has an open concept floorplan. This home includes a laundry room, attached 2 car garage and patio yard with a built in gas outdoor grill.
real estate, keenan carter group, keller williams, central coast, home buyer, buying, home purchase, new home, home ownership, moving, california, house for sale, california living, covid-19, death of the landlord, home loan, open house, virtual home tour, virtual open house, virtual tour