Real Estate Industry Blog » Shashank Shekhar

Loan Eligibility Criteria for California Obama Government Mortgage Refinance Program

Shashank Shekhar — Mon, 20 Feb 2012 02:13:23 +0000

This post will help you understand the Loan Eligibility criteria for the new California Home Affordable Refinance Program (HARP), also called Obama Government Refinance program. Whether you live in San Jose, Santa Clara County or rest of California, it applies to you. Here’s 6 things you need to know which will help you qualify for [...]

Santa Clara County Conforming and FHA Jumbo Loan Limits Going Down

Shashank Shekhar — Mon, 25 Jul 2011 06:12:27 +0000

Santa Clara County Conforming and FHA Mortgage Jumbo Loan Limits are Going Down in less than 4 weeks. Watch the Video below that talks about the FHA and Conforming Jumbo Loan Amounts going down to $625,000 and how will that impact Mortgage Financing for Home Purchase/refinance and Real Estate Prices in the area. Be sure [...]

March 2011 Real Estate Market Trend in Santa Clara County

Shashank Shekhar — Mon, 02 May 2011 14:23:10 +0000

The Sales and Market Prices Bounce Back: In March 2011 Santa Clara County witnessed about 52.1% increase in the sales of single family and re-sale homes over the previous month. There was 11.8% increase in sales when compared to the same month in the last year. The median price of single family and re-sale homes [...]

Santa Clara County First Time Home Buyers – Free Web Class for you

Shashank Shekhar — Thu, 21 Apr 2011 15:29:24 +0000

As part of our Home Ownership Workshop of free Web Classes, Shashank Shekhar Mortgage Broker/Banker with Arcus Lending and author of the book “First Time Home Buying 101″ will talk about “Financing Options for First Time Home Buyers in Santa Clara County.” By the end of the webinar you will learn about: What are the [...]

FHA Mortgage Insurance Premium for Santa Clara County Home Loans are Going Up

Shashank Shekhar — Thu, 24 Feb 2011 12:28:40 +0000

The FHA has now increased the Annual Mortgage Insurance Premium on standard Santa Clara County FHA loan programs. The first increase was in October 2010 and now for the second time the premium increased within a period of six months. Some of the changes effective from April 18th 2011 are provided below. 1. There will [...]

First Time Home Buyers in Santa Clara, CA get aid from CalHFA to buy with 1% Down Payment

Shashank Shekhar — Thu, 17 Feb 2011 15:54:37 +0000

CalHFA 1st mortgage + CHDAP 2nd mortgage = 99% LTV or 1% downpayment loan for Santa Clara, CA First Time Home Buyers. Here’s the Deal: CalHFA (California Housing Finance agency) FHA loan provides financing up to 96.5%. California Homebuyer’s down payment assistance program (CHDAP) offers a deferred payment junior loan (2nd mortgage) up to 3% [...]

Changes to Santa Clara County FHA Streamline Refinance Loan Programs

Shashank Shekhar — Thu, 17 Feb 2011 00:19:06 +0000

FHA announced changes to Santa Clara County Streamline refinance transactions. The FHA issued Mortgagee Letter provides guidance on the changes as well as clarification on existing streamline refinance guidelines. Here are the 6 things you need to know about these clarifications and changes: Borrower must be current on their mortgage for the month of closing [...]

Santa Clara County Mortgage Rates – why the sudden jump and my predictions

Shashank Shekhar — Sun, 26 Dec 2010 19:17:11 +0000

Santa Clara County mortgage rates have gone up every single week for last 5 weeks – now up almost 100 basis points. (Get the mortgage rate update in this post). It all started with Fed announcing Quantitative Easing 2. The big question is why so sudden and why so steep! There are several possible reasons: Markets are [...]

2011 FHA Loan Limits for Santa Clara County Mortgages

Shashank Shekhar — Fri, 03 Dec 2010 16:20:07 +0000

Yesterday FHA announced the maximum FHA loan limits for Santa Clara County (the ceiling) by property size for fiscal year 2011. They are as follows: One-Unit $ 729,750 Two-Unit $ 934,200 Three-Unit $ 1,129,250 Four-Unit $ 1,403,400 Other than Santa Clara County, properties located in the counties of San Mateo, Alameda, San Mateo, Contra Costa, San Francisco, San [...]

How will Fed’s Quantitative Easing (QE) impact Santa Clara County Mortgage Rates?

Shashank Shekhar — Sun, 07 Nov 2010 20:24:32 +0000

How will Fed’s Quantitative Easing impact Santa Clara County Mortgage Rates for Refinance and Home Purchase? But before we get into how will this impact home loan rates for Santa Clara County and SF Bay Area home owners, lets find out what does Quantitative Easing means! Wikipedia defines Quantitative Easing as – “Quantitative easing (QE) [...]