100% Financing Home Loan in San Diego, Home Ownership Made Easier

For some borrowers, saving up 3% for a down payment is still a hurdle they can’t quite clear due to the rising rent (44.6% up from 2005, according to the San Diego County Apartment Association reports. CBRE projects rents to increase by more than 3 percent in each of the next three years, until slowing to 2.4 percent annually in 2020.)

However, we have teamed up with a Bank that has a new program… 100% Financing Home Loan in San Diego (Zero-percent down mortgage).

This program is to help low- and moderate-income borrowers become homeowners by helping to overcome one of the “most significant barriers” to home ownership, the down payment.

It allows qualifying borrowers to finance up to 100 percent of a home’s value, with the bank contributing up to $4,500 toward certain closing costs.

Under this 100% Financing Home Loan program there are no private mortgage insurance, or PMI, requirements with a home mortgage, which can easily add $150 or more each month to the typical home loan payment.

To qualify for the program, certain eligibility requirements must be met. Those eligibility requirements include, but are not limited to (1) the property must either be located in a low-to-moderate income census tract (https://www.ffiec.gov/geocode/), or (2) the applicants on the loan cannot have an income greater than 80% of the HUD median income for the area. A lender credit not to exceed $4,500 will be applied at the time of closing, after final underwriting and product eligibility has been confirmed. (3) Minimum credit score of 620.

Other benefits of the program:

• Borrowers can move into a new residence with as little as $500 of their own funds. Seller funds and cash gifts can be used to pay remaining closing costs and so-called “prepaids” — expenses such as taxes and insurance that must be paid at closing before they are technically due.
• The program offers flexible fixed-rate mortgage terms, with 30-, 25-, 20-, 15- and 10-year options available.
• No income limits apply when the property is located in a Low or Moderate income census tract.

In some cases, borrowers participating in the program will pay a monthly mortgage payment that is as much as or less than what they currently pay as renters. And that’s an important point: This program will be helping people who’ve already proven their ability to make that monthly payment.
Contact us for details and complete eligibility requirements.

Mark Kunce

Keller Williams San Diego -The My Home Team

Video: 0 days on Market!?

San Diego Realtor Dan Becker and Mark Kunce talk about Real Estate Market in San Diego Metro Area.

Are you a savvy home buyer? Would you like to be?
Contact us, we can help! Give us a call 619-663-7139 or visit http://www.sdmyhome.com.

Video: Buying and Selling San Diego Real Estate in 2013

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San Diego Realtor Dan Becker and Mark Kunce talk about and Buying and Selling San Diego Real Estate in 2013.

Keller Williams names Mark Kunce 2013 Cultural Icon for Southern CA

Mark Kunce of San Diego My Home Team, Keller Williams San Diego Metro was recently named as the 2013 Cultural Icon for his contributions to KW Cares and many other local and national charities. More commonly known as the WI4C2TS Award, it is given to the agent who best exemplifies the Keller Williams culture. The Cultural Icon Award is presented to an elite group of Associates who best live up to the Keller Williams Realty "WI4C2TS" philosophy.

KW Cares is a 501(c) (3) public charity created to support Keller Williams Realty associates and their families with hardship as a result of a sudden emergency. Hardship is defined as a difficult circumstance that a person or family cannot handle without outside help.

The charity is the heart of Keller Williams Realty culture in action – finding and serving the higher purpose of business through charitable giving in the Market Centers and communities where Keller Williams associates live and work.

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The Top 11 Reasons a Seller Should List During the Holidays

11. By selling now, you may have an opportunity to be a non-contingent buyer during the spring, when many more houses are on the market for less money! This will allow you to sell high and buy low!

10. You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year!

9. Even though your house will be on the market, you still have the option to restrict showings during the six or seven days around the Holidays!

8. January is traditionally the month for employees to begin new jobs. Since transferees cannot wait until spring to buy, you need to be on the market during the Holidays to capture that market!

7. Some people must buy before the end of the year for tax reasons!

6. Buyers have more time to look for a home during the holidays than they do during a working week!

5. Buyers are more emotional during the Holidays, so they are more likely to pay your price!

4. Houses show better when decorated for the Holidays!

3. Since the supply of listings will dramatically increase in January, there will be less demand for your particular home! Less demand means less money for you!

2. Serious buyers have fewer houses to choose from during the Holidays and less competition means more
money for you! 


And the Number One reason why a Seller should list during the Holidays…
1. People who look for homes during the Holidays are more serious buyers


If you are looking to sell your home, please contact San Diego My Home Team.

October San Diego Real Estate Market Update: Low Inventory, Good Time to Sell!

The number of active listings on the Multiple Listing Service continues to fall. There were about 9,900 available listings in the entire MLS (including some Riverside country properties such as Temecula). Right now, there are about 5,200 available listings in San Diego Country, the lowest number in at least three years.

What does that mean for sellers? It means their listings are experiencing extremely high activity, receiving multiple offers, and many times selling for more than the listing price.

San Diego is experiencing what many other cities around the country can only dream of having – a housing inventory shortage. If you are thinking about selling your home in San Diego, now is the best time to do so. Call me to get your house sold now. For more information, visit http://www.sdmyhome.com