USDA Loan Income Limits and Requirements – Calculating Eligibility

USDA Loan Income Limits and Requirements – Calculating Eligibility If your family is shopping for a new home loan, there are several federal loan programs that you may want to look into. One loan program that has become increasingly popular over the years is the Single Family Housing Guaranteed Loan Program, more commonly known as …

Investing in Northern California Real Estate Vs the Stock Market

Investing in Northern California Real Estate Vs. the Stock MarketA little while ago a team combining the think tanks of the University of California, the German Central Bank, and the University of Bonn worked on answering the question of which asset gave a better return over the last 145 years: real estate or stock investing? …

What is the Difference Between a HECM Loan and a Reverse Mortgage?

What is the Difference Between a HECM Loan and a Reverse Mortgage?The Home Equity Conversion Mortgage is offered to those over age 62 amid a plethora of multiple tools that take on the name of reverse mortgage and similar. So it’s easy to understand how folks can be easily confused. Even experienced finance folks can …

What are Common Household Budget Percentages Across Various Expenditures?

What are the Most Common Household Budget Percentages?Following a budget is like a combination of financial roadmap and peace of mind. By taking charge of how and where to spend your money, you enable yourself to control your money, rather than your money controlling you. Knowing how much money to allocate for certain expenses can …

How Much Down Payment Is Generally Needed to Buy Your First Home?

How Much Down Payment is Needed for First Time Home Buyers? Unlike other countries where living in apartment, flat or rental, may be the norm, the American Dream is constructed around homeownership. This is no accident; everything from our tax structure to societal expectations define achievement with buying a home. So at some point almost …

An Exploration of Down Payment Assistance Programs for FHA Loans

Exploring FHA Loan Down Payment Assistance Programs Given the rising prices of homes in 2018, the availability of down payment assistance programs is being researched more widely every day. More and more full-time working folks are pursuing every avenue possible to get into a home, and every purchasing edge is being considered. California is at …

What Fees and Service Charges Are Associated with a Reverse Mortgage?

Let’s Break it Down: The Reality of Reverse Mortgage Fees & Charges Simply engaging in a reverse mortgage is never just about the loan. There is a whole package of fees and charges that go along with any kind of real estate financing, from the opening stage all the way to the final paperwork and …

How is an Estate That Includes a Reverse Mortgage Settled After the Borrower Passes Away?

How are Reverse Mortgages Settled After the Borrower(s) Passes? Most folks are familiar after going through the application process for a reverse mortgage that if the applicant leaves the home or passes away, the reverse mortgage will come due prior to expiration. However, the mechanics of the actual process of estate settlement in the case …

The 9 Largest Drivers for Real Estate Property Growth In California

The 9 Biggest Factors Influencing Real Estate Property Growth In California Many people frequently attribute California’s real estate success to a booming economy going on nationwide. While this factor is a contributor, it is not the only reason why real estate values are climbing higher in the state than most of the rest of the …

What is an FHA Reverse Mortgage? How Does it Differ From Other Options?

For those who are over age 62, a number of financial options become available in the reverse mortgage arena, providing significant opportunities for reshaping one’s retirement. However, there’s a wide array of choices available today, including federally-designed programs. Deciding which program works better can be daunting. There actually is quite a difference, and some types …

Will Personal Finance Software Give You an Edge in Budgeting & Saving?

Can Personal Finance Software Give You an Edge in Budgeting & Saving? People have been following one form of budget or another since a medium of exchange came into existence. The earliest cavemen may have used something like sticks or stones separated into piles (three stones for Oog, one for Grog). Next came things like …

The Difference Between a Home Equity Loan & a Home Equity Line of Credit

The Defining Differences Between a Home Equity Loan & a Home Equity Line of Credit When people want to use their home as a financing advantage or leverage, a number of options are available. However, the processes, results, costs and fees are tremendously different, each with advantages and disadvantages. Much of this is procedural; the …

Key Differences in Writing a Household Budget vs a Personal Budget

Household Budgeting vs. Personal Budgeting, What’s Actually the Difference? People often use the terms household budget and personal budget interchangeably. This is not accurate. In some cases, a person living on their own can actually use them as the same thing but in most cases the two are different. The main difference between a personal …

What Upfront Costs Are Associated with Buying Property in California?

What are the Upfront Costs Associated with Buying Property in California? The single number that most people focus on when buying a home or property in California is the listed selling price. There is however, a considerable amount of money associated with fees and expenses, to arrive at the final sales figure to close a …

What To Expect During Your HUD-Approved Agency Counseling Session

What Happens When You Attend a HUD-Approved Agency Counseling Session?  One of the requirements all applicants have to meet is a counseling session with an approved HUD financial advising entity, typically a trained professional who can teach people about all the details of a reverse mortgage and has no profit motive in the process. Here …