This has to be one of the most usefull financing tools for both Sonoma County Real Estate owner occupants and Investors alike. Simply put, it allows a borrower to fold in the cost of renovation up front into the loan. It is limited to 35,000 and can include almost everything from carpet and paint to electrical and plumbing. What it doens’t include are additions or structural items but roofs are. The idea here is to make a
Sonoma County foreclosed property livable. The one big difference between a Homepath and Homepath Renovation loan is that there is an appraisal required in order to justify the improvements for the Renovation loan. There is still no Mortgage Insurance required. Owner occupants borrower still put down just 3% of the total of purcahse price and renovation costs. Investors are only required to put 15% down of the total and they can finance up to 20 properties provided they meet guidelines.
This is a tremendous mortgage financing tool for anyone looking to purcahse foreclosure proeprties. If you would like more information I would be happy to provide it to you. Please contact me at 707-431-9715 or at hunt.conrad@prospectmtg.com. you can also fill in the info requested boxes at the bottom of the page.

The Homepath loan program is a Fannie Mae loan program intended to help Sonoma County borrowers buy Fannie Mae foreclosed properties. This is an amazing Mortgage program for both first time home buyers and investors alike. Owner occupants are given a 2 week first shot at new listings before the investors can make offers. There is no appraisal required for these loans and borrowers are encouraged to finance the closing costs by asking for seller credits. Again…NO APPRAISAL!
In additon Sonoma County owner occupied borrowers have a minimum 3% down payment with NO MORTGAGE INSURANCE. Compare that to FHA and you will be saving hundreds of dollars a month plus there is no up front MI premium. In additon there is no scrutiny for the condition of the property becasue again… there is NO APPRAISAL.
Sonoma County investors can put a minimum of 10% down and also not have an appraisal or MI required. There is also a maximum limit of 10-20 properties that an sonoma county investor can hold vs traditional mortgage loan programs that limit to 4 with mortgages.
All in All, this is a fabulous program for all Sonoma County Home buyers. Please call Hunt Conrad for more information. 707-431-9715. “Hunt For Your Loan”

Residential mortgage interest rates for Sonoma County residents continue to hover around all time lows. Whether your in the market for a 30 year fixed or 5 year fixed rate ARM you will still find extremely low mortgage rates. But the Gov’t just anounced that they have added 1.6 Trillion, Yes Trillion dollars, to our national deficit, bringing our total debt to right around 13.5 Trillion. UGH!
Soif that is depressing look at it this way…Mortgage Rates just can’t get any lower. I just don’t see how they could. With all this cheap money available to corporations stock piling their reserves, inflation will have to come into the picture which in turn will raise Mortgage interest rates.
And what are you going to do? You have sat around waiting for interest rates to get lower and you have missed the boat. That house you have always dreamed of is now out of your price range becasue lets face it. The cost of that beautiful house in Windsor is not the price…it is the monthly payment.
And if you are sitting on a 5% or higher Mortgage rate thinking that they have to get below 4% before you can Refinance then think again. In most cases, Interest rates only really have to be about 5/8ths lower to have a significant effect on your monthly payment so that it is worth it to refinance.
Call me now and lets figure out just how low these rates really are and how I can help you take advantage of them. 707-328-1233

I just don’t know if they can. Rates as low as 4% for a 30 year fixed loan are virtually unprecedented in our life time. If you are waiting for rates to go lower I just don’t think they are going to. I reveiwed the history of the ten year bond recently and over the last 60 years there has been only one other time the yeilds have been this low and that was during the economic freefall we experienced in 2008. If you look at the average values of real estate in 2006 coupled with the 2 percent higher interest rates and look at the demand then, one can only assume we are at the bottom looking up. Call me with questions or concerns. Happy to help all of Sonoma County home owners. “Hunt for your loan”.

Bonds followed their recent trend lower in early trading. Pressuring Bonds lower is the strength in the Stock market as well as the exorbitant amount of Bond supply hitting the markets next week.
In related news, the New York Federal Reserve is continuing to purchase Mortgage Backed Securities. However, their efforts are just not enough to absorb the flood of new closed and securitized mortgages that are hitting the market after the heavy refinance activity recently.
Overall, Bonds have muscled back higher from the lower levels seen earlier this morning. Therefore, I recommend floating for now, as we watch to see if Bonds can regain some ground. I will continue to monitor the situation and keep you posted if a change occurs.

Bonds woke up angry this morning following yesterday’s sell-off, and are now struggling to regain their footing and move back above an important level of support.
On the news front, Initial Jobless Claims were slightly higher than expectations and continue to be a drag on the economy. However, continuing claims fell by 148,000 to 6.69 million, which is the largest one-week drop since November of 2001.
Next week brings another round of Bond supply from the Treasury, which could weigh on the Bond market. Therefore, I recommend locking but I will let you know if Bonds are able to reverse course and muster another rally.
Currently rates are trading in the 5.5% range for a 30 day lock on a 30 year conforming loan for a point in origination.