Pacific Portfolio Real Estate Services. BRE # 01271448

How Financing Details Affect Your Offer. Most buyers do not have enough cash available to buy a home, so they need to obtain a mortgage to finance the purchase. Since you will probably make your purchase contingent upon obtaining a mortgage, the seller has the right to be informed of your financing plans in order to evaluate them. That is one of the major reasons that financing details are included in your offer.... Down Payment. As part of your offer, you will need to disclose the size of your down payment. Once again, this allows the seller to evaluate your likelihood of obtaining a home loan. It is easier to get approved for a mortgage when you make a larger down payment. The underwriting guidelines are less strict. Interest Rate. Another reason for including financing information in your offer is to protect yourself. If interest rates suddenly become volatile and rise quickly, as sometimes happens, you may looking at a mortgage payment much higher than you anticipated. By putting a maximum acceptable interest rate in the offer, you are protecting yourself from such an occurrence. At the same time, the seller will probably want to see that you have some flexibility in the financing terms you are willing to accept. If interest rates are currently at 4.5 percent and you indicate this is the highest rate you will accept, you would be able to cancel the contract without penalty if interest rates rose past that point. Your offer should also contain information on whether you are obtaining a fixed rate or an adjustable rate mortgage. It should also state whether you are obtaining conventional financing or obtaining a VA or FHA loan.

12260 Heritage Way, Gilroy Ca 95020 Adorable New Single Story Home - GILROY. Single level -4760 Sq Ft 10-18 ceilings on 2.2 flat acres... Surrounded by several more unbuildable acres, Extra parking for RV/Boat, 1705 Sq Ft 4 Car garage w/ shop area, ~1000 sqft of covered patios, ~800 sqft of uncovered patios, and ~1000 sqft of central courtyards which the house surrounds on all sides. House features a large 18' foyer, Master bedroom has retreat that has fireplace w/ private patio, walk in closet, his & her shower w/ soaking tub. Kitchen has 18' ceiling w/ break taking cabinetry, granite, & appliances. Bedroom 5 is set up a perfect private in-law quarters on the east wing of house w/ patio access. Central courtyard has 5 Anderson French doors leading to all areas of house. Family room, Dinning room, & Living room all have 18' ceiling w/ direct patio access. Outdoor area offers unlimited possibilities with custom fire pit. Located nearby wineries. Published by permission of Real Estate Professors, Inc.

STOCKTON - Beautiful Home with Great Curb Appeal! $330,000 4 bedroom, 2 bathroom, with 2 car garage. You are WELCOME to a spacious family room. Home has Solar Energy Efficiency System. New Interior and Exterior 2 tone paint. ... New laminate wood flooring in living room and Master Bedroom. Granite slab kitchen counter tops. Back yard has a Custom FULL BAR for those family gatherings or just enjoying a relaxing day!! 4th bedroom could be used/rented as separate studio equipped with kitchen and shower. Call me to schedule a showing! (408) 480 8517 Marketed by permission of R. Sanchez from Advance 1 Real Estate.

Why Buying a Home is a Good Idea! The Best Investment As a fairly general rule, homes appreciate about four or five percent a year. Some years will be more, some less. The figure will vary from neighborhood to neighborhood, and region to region....Continue reading