Qualifying For Home Loan In Placer County

Qualifying For Home Loan In Placer County California

Gustan Cho Associates are mortgage brokers licensed in 48 states

This BLOG On Qualifying For Home Loan In Placer County California Was Written By Arlene DiSessa Of Gustan Cho Associates Mortgage News

Why I Moved to Placer County:

I previously lived in a small bedroom community in a rural underdeveloped area north of Sacramento. I can say we did not move there for the schools. They suffered from budgeting shortfalls on a regular basis. The school ratings were low and a the schools offered a very limited amount of extracurricular activities for the students. When my husband and I decided to relocate so that we could shorten our commute times to work, we decided that the schools would be the most important factor for us. The schools in Placer County are absolutely phenomenal. We found the best schools to be in Roseville, Rocklin, and Granite Bay. Almost every school in these cities are ranked at least a 9 /10.

About California Real Estate And Qualifying For Home Loan In Placer County

How to qualify for a Placer County Home Loan

Placer County is a county in Northern California, situated in the Sierra Nevada and Sacramento Valley area, stretching from the Sacramento suburbs to the border of Lake Tahoe and Nevada. Big cities in Placer County include Roseville, Rocklin, Lincoln, Auburn, in addition to Colfax and Loomis. Placer County is known as the Gold Country, a historic area where large numbers of immigrants came in to settle during the Gold Rush of 1849.

Placer County California Real Estate Demographics

Placer County is growing at a fast pace and is home to many large corporations and businesses, including Hewlett Packard, Kaiser Permanente, Union Pacific, Pride Industries, and Thunder Valley Casino Resort. Placer County has a population of approximately 348,832, of which 142,063 are male and 178,281 are female. The median age is 40.   94% of the residents of Placer County over the age of 24 have a high school diploma and 35.7% have a Bachelor’s Degree or higher. There are 132,627 occupied homes in Placer County, with 75,509 of those homes being occupied by married couples with children. The median household income is $73,717.

Placer County California Real Estate Home Values

What are the values of homes in Placer County, California

The median price of a home in Placer County is $421,300.   Placer County is currently a seller’s market and ranks 8/10 for market health with 38 average days on the market and a median sale price per square foot of $216, which is steadily increasing from $202/square foot the same time last year. Placer County months of inventory for May 2016 is 1.9 which is down from 2.1 in May 2015.   There were 1,069 homes for sale, with 712 pending sales and 567 sold with an average sold price of $486,000. There are currently 819 new listings.

Why Move To Placer County California

Placer county is well known for its phenomenal schools, great neighborhoods, low crime rates, lush scenery, and plenty of recreational activities. Besides the schools, Placer County has beautiful geography, with abundant rolling hills, mountain views, breathtaking architecture, and well-maintained parks. Whether you love arts & culture, museums, outdoor recreation, fairs and festivals, or farmers markets, there is definitely no shortage of fun activities in Placer County.

Qualifying For Home Loan In Placer County With Lender With No Overlays

How to qualify for a Placer County home loan with a no-overlay lender

A large percentage of Arlene’s clients are folks who could not qualify at other banks and mortgage companies due to their mortgage lender overlays . Qualifying for home loan in Placer County with a lender that has zero overlays is possible. What is a lender overlay? Lender overlays are additional mortgage lending guidelines that are imposed by an individual mortgage lender that is in addition to the minimum mortgage lending requirements imposed by FHA, VA, USDA, or Fannie Mae/Freddie Mac. For example, to qualifying for home loan in Placer County for a 3.5% down payment FHA insured mortgage loan, the borrower needs a 580 credit score. However, most FHA mortgage lenders will require a higher credit score such as a 640 credit score even though FHA only requires a 580 credit score. This is called a FHA Lender Overlay by the individual mortgage lender on credit scores. Arlene is not like your typical mortgage loan officer where they will tell you that you do not qualify and to come back at a later date when your credit situation improves. From the minute you contact Arlene and if you do not meet the minimum mortgage loan requirements, Arlene will help you and work with you in trying to get your qualified. Sometimes it may take several months to get you qualified but Arlene will be there working together with you as a team in getting you fully qualified. If you are looking for a five star mortgage lender who will not just be your loan officer but will also become your lifelong friend, contact us at Gustan Cho Associates Mortgage Group. Arlene is available 7 days a week, evenings, weekends, and holidays to take your calls and answer any questions you may have.

About The Author

Arlene DiSessa is the author of this blog on Qualifying For Home Mortgage In Placer County California. Arlene DiSessa is a senior writer for Gustan Cho Associates. Arlene is a seasoned accounting and tax professional with over 20 years of industry experience.  Arlene’s experience includes small business start-ups, record keeping, financial statement preparation, and financial statement analysis. Arlene has experience leading audits of large national corporations and holds an MBA and a Master’s Degree in Accountancy.  Arlene is a licensed loan originator in California and is an expert in all areas of mortgage lending, especially FHA Loans, VA Loans, USDA Loans, and Conventional mortgage loans.

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One Comment

  1. Retired early. No income to show in IRS. No W-2. 55 yo. Looking for asset depletion loan for condo in FL

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