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FHA Loans Qualifying Summary

FHA Loan Qualifying Summary

FHA loans are the easiest type of real estate mortgage loan to qualify for. The FHA guidelines for loan qualification are the most flexible of all mortgage loans that require less than 5% down payment.

Following is the basic FHA loan qualification guidelines.

* Two Years of steady employment, preferably with same employer.

* Last two years Income should be the same or increasing.

* Credit report should typically have less than two thirty day lates in last two years with a minimum credit score of 620 or higher or in some cases no credit score at all.

* Bankruptcy's must be at least two years old, with perfect credit since discharge.

* Foreclosure's must be at least three years old, with perfect credit since.

* Your new mortgage payment should be approximately 30% of your gross (before taxes) income.

North California Real Estate Market Dec. 2008 vs. Dec 2009

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We examined 55 major cities spread over 16 counties in Northern California in order to comprehensively analyze the housing market. We compared key statistics from December 2009 with December 2008 in order to determine how the Real Estate market fared over the course of a year.

Summary of Key Points

Northern California housing market deteriorated in the period examined

Total Units Sold in North Ca (55 cities analyzed) in Dec 08 were 7328 and 6081 in Dec 09 (a drop of 17.02%)

Big Picture: SF – Peninsula market performed the best with East Bay and North Bay markets on the rise. Monterey, Merced and Modesto markets were worst out of the lot

South California Real Estate Market Feb. 2009 vs. Feb. 2010

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Instant PreQual Calculator
Property Search
City Specific Search
Lending Guide

We examined 52 major cities spread over 7 regions in Southern California in order to comprehensively analyze the housing market. We compared key statistics from February 2010 with February 2009 in order to determine how the Real Estate market fared over the course of a year.

Summary of Key Points

Total Units Sold in South Ca (52 cities analyzed) in Feb 09 were 8,937 and 7,683 in Feb 10 (a drop of 14.03%)

Big Picture: There were no big surprises in Southern California and the market in general is on the rise.This is a complete reversal of the falling price trend we have been noticing for a long time. Out of all the 7 markets examined, LA Central and Orange performed best with Long Beach, LA West and San Fernando Valley posting solid gains while Inland Empire market was worst out of the lot and LA SG Valley remained unchanged.

Click for San Jose, California Forecast

San Jose Homes For Sale | San Jose Real Estate | San Jose Realtors

San Jose Houses | San Jose MLS | Mortgage Calculator

Instant PreQual Estimator

Use this powerful resource guide to locate San Jose Homes and San Jose Houses. We have periodic research reports on San Jose Real Estate performance. There are quick shortcuts pointing to San Jose MLS. Use our version of a powerful Mortgage Calculator .This is a Proprietary Affordability Calculator. It matches your profile against the programs we offer and instantly communicates the PreQual amount and the Purchase price you are eligible for. Various loan Programs available for San Jose Housing are available to review. Check what you qualify for using the Mortgage Calculator and then proceed to look for San Jose California Homes. You have the option to choose any San Jose Realtors.

According to a 2007 estimate, the median income for a household in the city was the highest in the US for any city with more than a quarter million residents with $76,963 annually. The median income for a family was $86,822. Males had a median income of $49,347 versus $36,936 for females. The per capita income for the city was $26,697. About 6.0% of families and 8.8% of the population were below the poverty line, including 10.3% of those under age 18 and 7.4% of those age 65 or over.

Compare City/County/State/US Demographic,Economic,Social and Housing data here

Featured Listings

Our Featured Listings in San Jose: With Pictures and Videos for many listings.

Qualify Now: One PreQualification allows you to write offers on any of these properties .

Average Median Price for San Jose Housing

No of Homes Sold (September 2009) 1,042 Median Price of Homes $400000 Median Price Drop(in last 12 months) 12.09%

Quick Links to San Jose MLS Listings

Quick Links to Concord MLS Listings

Mortgage for Concord Homes Sale

HUD Median Income 2009 :$89,300

Mortgage Loan Limits :

1 Unit Homes: $729,750 2 Unit Homes: $934,200 3 Unit Homes: $1,129,250 4 Unit Homes: $1,403,400

FHA Mortgages:Available .Please click on FHA Qualification Summary to read the general eligibility guide.
VA Mortgages:Available.Please click on VA Qualification Summary to read the general eligibility guide.
USDA Mortgages :Not Available in Concord, Ca.Please see list of Eligible Cities.
1/2% Down Mortgages :Available.Please click on 1/2% Down Qualification Summary to read the genearl eligibility guide.
Bad Credit Mortgages: Available .Please click on Bad Credit Qualification Summary to read the general eligibility guide.
First Time Home Buyer Mortgages: Available.Please click on First Home Home Buyer Qualification Summary to read about general eligibility.

Mortgage Rates: Displayed for you in the module on this page

Mortgage Calculator:Use this to calculate mortgage payments.Just input the Purchase price you want to calculate payments on. For every $100000 Purchase Price, taxes should be adjusted to $1250 and Insurance to $200.You do not need to adjust any other numbers including PMI.

Instant Affordability Calculator:This is our Proprietory Affordability Calculator.It matches your profile against the programs we offer and instantly communicates the PreQual amount and the Purchase price you are eligible for.No personal information such as name,Social ,address are needed.

Short Application:Input a Short Application if you are ready to move forward.A Loan Officer will review the application and be in touch per your preference.

Concord (pronounced /ˈkɒŋkərd/; formerly, Drunken Indian and Todos Santos) is the largest city in Contra Costa County, California, USA, and the 202nd largest in the U.S. As of the 2000 census, the city had a total population of 121,780. Originally founded in 1869 as the community of Todos Santos by Salvio Pacheco, the name was changed to Concord within months. The city is a major regional suburban East Bay center within the San Jose/San Francisco Metropolitan Area, and is located just 31 miles (50 km) east of San Francisco.