Home You Are Purchasing Needs Repair- Ask About a 203K Loan

Are you purchasing a home that needs repairs?

You may be able to get a 203k Loan that will help you finance from $5,000 to $25,000 for repairs. These repairs can not be structural repairs. Once the loan is approved and closed, the contractor will have up to six months to complete the necessary repairs. Talk to your lender to see if the home you are thinking about purchasing will qualify for this loan.

Not all lenders are able to do a 203k loan.

Do you need a lender? I can recommend a few for you to interview.

Happy House Hunting!

Pam McCoy, Realtor(r)
916-865-8759

Princeton Capital Lender Report | November 10, 2011

Michael Sousa, Loan Counsultant with Coldwell Banker’s in-house lender talks about the market.

You can reach Michael at:

Michael Sousa, Loan Consultant
2355 Market Street
San Francisco, CA 94114
Direct (415)-437-4540
Cell (650)533-0009

I hope you enjoyed this marketing minute.

Pam McCoy, CNE, SRES, e-PRO
916-865-8759

How Do I Get the Best Interest Rate for My Home Loan?

Evangeline Scott of Big Valley Mortgage in Folsom, CA answers the question “How do I get the best interest rate for my home loan?”

  • Work with a lender that know what is going on and follows the market regularly.
  • Be sure when comparing loans that you are looking at all the facts.
  • Interest rates can be bought down.
  • Credit score can affect interest rates.
  • Find a lender that you can trust. Referrals are best.

I believe it is important to work with people you can trust. I have compiled a list of lenders that I believe are trust worthy, well educated in their field and know how to get the job done. Please contact me today if you would like to be connected with one of my trusted loan officers.

I am happy to help you!

Pam McCoy, Realtor®, CNE®
916-865-8759

Tips for Home Buyers When Purchasing a Home

Tips when in the process of purchasing a home.

  • Do not buy or lease a vehicle. When purchasing any large item or making a purchase on a credit card, your debt to income ratio may be affected. Lenders are very concerned about this debt to income ratio and the change may affect you qualifying for a loan.
  • Any money added to an account must be accounted for. Don’t add mattress money to an account.
  • Don’t start transferring funds around. All funds need to be accounted for.
  • Do not change jobs when in the middle of purchasing a home without putting a plan together with your lender.
  • Be in complete communication with your lender regarding your finances.
  • Do not order any furniture, appliances, etc. for your new home until you close escrow.
  • Don’t run your credit report during the process. This is a red flag to the lender. The lender will be wondering what other purchases you are planning on making.
  • If you want a copy of your credit report, just ask your lender.
  • Do not consolidate all your debt into one place during the home buying process.
  • Be sure to have all your important papers available before packing i.e. tax returns, bankruptcy papers, etc.

These are important tips to remember when getting ready to purchase a home.

Please let me know if I can help you with your listing or home purchase. I am here to help you!

Your Real Estate Agent,

Pam McCoy
916-865-8759

Would you like to do a mobile home search? Put http://PamMcCoyRealEstate.com/mobile into your mobile phone or notebook.

Jumbo Loan for your Dream Home

Jumbo Loan Financing is Still Available



Jumbo loans do take a little longer so it is important to get started getting your documentation completed with your loan officer as soon as you know you will be needing a Jumbo loan.

A jumbo loan is over $417,000 in the state of California.

There are some creative financing available. If you have large assets, but don’t have the income to qualify for a Jumbo loan you may still be able to qualify. Give me a call today for more information on creative financing. You can reach me at 916-865-8759 or you may contact Ryan Nordby at 916-600-6480. Tell Ryan I sent you!

Your Realtor®,
Pam McCoy