Alameda Open Home Hub
Your Local Resource for Open Homes in Alameda, CA
Welcome to our site!
Thank you for stopping by our mortgage web site. Even though we have taken special care and consideration to pack this online resource with a wealth of knowledge about the mortgage and real estate process, we want y ...
How Much Can I Afford?
How much mortgage money can I qualify to borrow? This is typically the number one question mortgage professionals are asked by new clients. Of critical importance when considering mortgage financing: There is sometimes a difference between what a client ***can*** borrow and what they ***should*** borrow. In other words, what makes for a comfortable long-term mortgage payment? The Quick Answer: If we're simply considering the financial math, lenders will calculate your Debt-to-I ... Read More...
New Loan Requirement Carbon Monoxide Detectors Alameda Oakland San Francisco
The Carbon Monoxide Poisoning Prevention Act, Senate Bill SB-183, requires all single-family homes with an attached garage or a fossil fuel source to install carbon monoxide alarms within the home by July 1, 2011. Here is one example of how a mortgage bank will handle this new stipulation: California Properties: Effective July 1, 2011, all California properties (purchases, refinances and on all loan programs) require a Carbon Monoxide Detector. Since we do not want the borrowers to have to pay for a re-inspection fee ($150-$165) for the installation of a $45.00 detector, if the appraisers did not indicate if a detector is present, the Underwriter will condition for the borrower(s) to provide evidence of the installation of the detector (copy of the receipt for purchasing the detector and photo of the installed detector is sufficient). We will not require a 1004D until August 1st to allow time for our AMC’s and borrowers to become compliant with this new California ordinance. ... Read More...
