Home Financing

Joining us today on The Bay Insider is Arlo Zoerner from Cross Country Mortgage, one of the best lenders in the Bay Area for mortgages. We will guide you through navigating the often murky waters of home financing. Whether you're a first-time homebuyer or a more savvy real estate investor, today's episode promises to deliver helpful information.

We deal with a variety of subjects that can help you stand ahead in a competitive market for real estate:

Chapters:

• Three Levels of Pre-Approvals - 8:50 : Learn about pre-qualification, pre-approval, and fully underwritten pre-approval and why having the strongest approval can give you a competitive edge when submitting offers.
• Gift Money - 18:05 : Learn the key rules on using gift money from relatives, along with the documentation you'll need to provide.
• How to Create a Competitive Offer - 24:48 : How to make your financed offer as competitive as possible in competition with an all-cash offer.
• Buy Before You Sell - 30:32 : Discover options for bridge loans, home equity lines of credit, and other creative financing strategies that allow you to buy your new house before selling the house you have.
• First-Time Home Buyer Programs - 37:11 : This is an overview of existing state and local programs, grants, and other forms of assistance designed to help first-time homebuyers.
• Investor Loans and Cash Flow Loans - 40:18 : Learn about these types of financing available for real estate investors.
• 401K Loans - 46:12 : Understand how you can tap into your 401K as a source of down payment and savings accounts without penalty, and its effects on your ability to qualify for loan approval.
• Seller Financing - 48:13 : Seller financing is  more common when interest rates are high. Find out how buyers and sellers can be mutually rewarded with this type of financing.
• Interest Rates - 51:08 : Stay on top of where interest rates are going and what that means for your bottom line.
• What Not to Do When You're in Contract - 55:42 : Once you're in escrow, large purchases or even switching jobs can kill a deal. Here are the important "don'ts" to avoid when closing the sale.
• RSUs or Restricted Stock Units - 58:59 : In a tech-driven market like San Francisco, RSUs can constitute a significant percentage of a homebuyer's income. We will discuss how lenders view RSUs and what documentation you need to use them effectively in your loan approval.

Guest Contact Information:
Arlo Zoerner
crosscountrymortgage.com/Arlo-Zoerner/
925-289-9770

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Amanda Martin | Lic #01386284
Ying He | Lic #01964556

BarbCo Real Estate Group

Chapters

• 0:00 Introduction
• 8:50 Three Levels of Pre-approval
• 18:04 Gift Money
• 24:47 How to Create A Competitive Offer
• 30:32 Buy Before You Sell
• 37:11 First Time Home Buyer Programs
• 40:18 Investor Loans or Cash Flow Loans
• 46:12 401K Loan
• 48:13 Seller Financing
• 51:08 Interest Rates
• 55:42 What Not to Do When You are In Contract
• 58:59 RSU (Restricted Stock Unit)
• 1:00:32 Ending