Now You Don't Need as Much Money to Buy a Home!

The East Bay real estate market is diverse with both buyers and investors alike seeking a variety of different properties. As a prospective seller, you can find out the market value of your property with a free home value report right here, or if you're looking to purchase in the East Bay click here for full MLS access. Always feel free to reach out to us for any questions regarding the current market conditions, or the value of your property at 925-855-3432.

For as long as anyone can remember there have been FHA loans requiring a 3.5% down payment on a home. However, now we are seeing two of the other biggest players in the mortgage industry, Fannie Mae and Freddie Mac, offering 3% down loans. Fannie Mae began this program in December of 2014 and Freddie Mac will be implementing this in March of 2015.

You need to have a well-documented income, and you will be required to purchase mortgage insurance, which will add some money to your monthly payments. At least one co-borrower has to be a first time home buyer in a primary residence property only. Also, loan limits will differ by county, so be sure to ask us about your specific area. These criteria are somewhat tight, but this is a really great product.

This is going to open up the market here in the East Bay and across the nation as a whole. Buying power will increase and we're going to expect a lot more activity in our market because of this.
If you want to know more about these loan products, or if you have any questions about the East Bay real estate market, please be sure to reach out to our team via phone or email. We would be more than happy to assist you!