Fannie Mae Mortgages Allowed for Short-Term Rentals, Airbnb

You can now buy a place as a second home and use airbnb income to help qualify. What a boom for second home communities.Previously, you paid about an extra 1/4% in rate because they wanted the purchase labeled as Investment. The lenders all have to adopt it so give it ...

Continue reading

Should I refi now or wait until a recession?

No one can answer this question without running your numbers. If you have a high rate, get rid of it. you can even borrow with no closing costs by raising the rate. No one has any idea when the next recession is, how bad it will be and what rates ...

Continue reading

How do I sell my home to my daughter who has no cash?

What you do is give her a gift of equity and pay for her closing costs. It is all allowable. Get a professional to help you with the mortgage set up first, then get someone to do the agreement of sale, etc. correctly.

Continue reading

Will the IPOs from Lyft, Uber, Pinterest make the Bay Area real estate market crazy?

My opinion is No.First, it will be about six months to a year before they can do anything with their stock. Second, they may not sell the stock to buy homes. It’s not like everyone is going to buy on one Sunday at a bunch of open houses. These are ...

Continue reading

Is there any benefit to PMI (Private mortgage insurance)?

Yes. It let's you put only 3 percent down instead of 20. The market would be dead without it.

Continue reading

Does "renting to own" result in a house purchase very often?

No. Why? They are not properly structured.Mortgage companies control rent to own rules. And the biggest one talks about how much of the rent can be applied to the purchase.The answer is: any amount over and above the market rent for unit they are in.For example: if rent in the ...

Continue reading

How much quicker can you make acquiring your new home if you get pre-approved for a mortgage?  

I can't even come up with something fast enough. If you aren't fully preapproved with all your kinks worked out, don't even think of looking at Zillow. Get it done!https://qr.ae/TWpNWU

Continue reading

Top 5 reasons residential real estate values will drop in 2018

The past few years in real estate has been boom, boom stupid. We can all agree on that. But, we’re done.1) New York City high end market. See this article from @CNBC2) The second home market is getting a little softer. Always a sign. See every past bagel.3) Tax changes: ...

Continue reading