New Year, New Goals, New Home!

It is that time of year once again...we are winding down from the past 12 months and preparing lists of new accomplishments we would like to obtain in the new year. For many people that were rocked by the recession, and had to short sale or foreclose on a home, there is good news! Interest rates are still low - and I you thought you couldn't get back into the housing market - you can a lot sooner than you probably expected! Per Anne Gahshan at Movement Mortgage in Glendora, CA: After filing Chapter 7 Bankruptcy, you can obtain an FHA loan 2 years from the bankruptcy discharge date and a conventional loan in 4 years from the discharge date. For short sale and foreclosures, an FHA loan can be obtained 3 years from the date and a conventional 4 years from the date. Today's base rates are 4.375 for conventional loans (20% down, 30-year fixed, 740 FICO) and FHA is 4.25 3.5% down payment. There is low inventory, but there are also great buys. Serious sellers are in the market, and serious buyers are looking now! What are your 2016 real estate goals? I will gladly help you reach them! Give me a call or email and let's get started! Happy 2016! Stacy