Down Payment Assistance Grant

Attention All Home Buyers Click on the bottom link to get more information on this Grant

Down Payment Assistance Grant

Eligibility: Applications for the Madera Association of REALTORS® (“M.A.R.”)

2016 Down Payment Assistance Grant are open to all first-time buyers working
with an M.A.R. Realtor® to purchase an owner occupied single family residence
within Madera, CA or Chowchilla, CA in zip codes 93636, 93637, 93638 or
93610 (“Eligible Property”), without a co-signer, using Conventional, FHA, VA,
or U.S.D.A. financing for a thirty (30) year mortgage (“Grant Applicant”). Firsttime
buyer means a Grant Applicant who has not owned a property in the last
three (3) years. Licensed agents, Realtors®
, lenders, employees, officers and
directors of M.A.R., its parent company, subsidiaries, affiliates, divisions,
agencies and exhibitors at M.A.R.’s 2016 Business Extravaganza and Home Expo
(“Home Expo.”), as well as the immediate family members of such persons
(defined as parent, child, sibling, spouse) are not eligible to apply. Grant
Applicant must be 18 years of age or older and a legal U.S. Resident.
How to Apply: Each Grant Applicant must submit a completed “Buyer Eligibility
Form” to M.A.R. by 07:29:59 p.m. PDT on June 16, 2016. Buyer Eligibility
Forms completed prior to June 16, 2016 can be submitted to M.A.R. in person at
or by mail to 411 North I Street, Suite B, Madera, CA 93637 (c/o Home Expo
Task Force), by fax to (559) 673-9050 or by email to
MaderaRealtors@gmail.com. Buyer Eligibility Forms can also be submitted inperson
during the Home Expo upon checking in at the M.A.R. booth located
outside between Hatfield Hall and Van Allen Hall at the Madera Fair Grounds.
Limit of one (1) Buyer Eligibility Form per person and per household. A given email
address and physical address may only be used by one (1) Grant Applicant.
Use of any artifice or method to violate these application restrictions will
disqualify all applications.
Drawing/Grant: After 7:30 p.m. PDT on June 16, 2016 during the Home Expo
there will be a drawing to select seven (7) Grant Applicants to be potential “Grant
Recipients”. The first three (3) potential Grant Recipients drawn will be given the
opportunity to receive a $5000 grant to be used towards the down payment or
closing costs for the purchase of an Eligible Property (“Gift Funds”). The last
four (4) potential Grant Applicants drawn will each be given the opportunity to
receive a $2500 grant to be used towards the down payment or closing costs for the
purchase of an Eligible Property. Odds of being selected are based on the total
number of Buyer Eligibility Forms received. Grant Applicants need not be present
at the drawing to be selected as potential Grant Recipients. M.A.R. will use
commercially reasonable efforts to contact Grant Applicants selected using contact
information provided by the Grant Applicants on their Buyer Eligibility Forms. If
a Grant Applicant is not reached within a reasonable period or for any reason is
determined by M.A.R. to be ineligible, his or her application will be disqualified
and an alternate Grant Applicant may be selected. M.A.R. reserves the right to
verify eligibility of potential Grant Applicants and compliance with pre-requisites
and requirements both before and after the drawing.
Post-Drawing Requirements: By June 30, 2016, each potential Grant Recipient
must submit to M.A.R. a lender pre-approval letter. A potential Grant Recipient
must continue being represented by an M.A.R. Realtor®
through the close of
escrow and must open escrow on an Eligible Property by October 16, 2016. In the
event escrow on an Eligible Property is cancelled for any reason prior to
October 16, 2016, Gift Funds will still be available for potential Grant Recipient
provided that he or she opens escrow on another Eligible Property by
October 16, 2016. If any potential Grant Recipient does not open escrow on an
Eligible Property by October 16, 2016, Gift Funds will no longer be available for
that potential Grant Recipient. By October 23, 2016, potential Grant Recipient
must provide M.A.R. with escrow verification and accurate wiring instructions.
Potential Grant Recipient must provide M.A.R. with a completed W-9 tax form.
After confirming all requisites are satisfied, M.A.R. will directly deposit Gift
Funds into potential Grant Recipient’s escrow account. Unless extended in writing
by M.A.R., all Gift Funds must be returned to M.A.R. if escrow does not close by
June 1, 2017. If escrow is cancelled for any reason, Potential Grant Recipient
must immediately return to M.A.R. all Gift Funds. Buyer may be required to
obtain mutual escrow instructions to comply with these deadlines. If potential
Grant Recipient does not meet a program requirement, M.A.R. may disqualify the
potential Grant Recipient and an alternate potential Grant Recipient will not be
selected.

Down Payment Assistance Grant

Attention All Home Buyers Click on the bottom link to get more information on this Grant

Down Payment Assistance Grant

Eligibility: Applications for the Madera Association of REALTORS® (“M.A.R.”)
2016 Down Payment Assistance Grant are open to all first-time buyers working
with an M.A.R. Realtor® to purchase an owner occupied single family residence
within Madera, CA or Chowchilla, CA in zip codes 93636, 93637, 93638 or
93610 (“Eligible Property”), without a co-signer, using Conventional, FHA, VA,
or U.S.D.A. financing for a thirty (30) year mortgage (“Grant Applicant”). Firsttime
buyer means a Grant Applicant who has not owned a property in the last
three (3) years. Licensed agents, Realtors®
, lenders, employees, officers and
directors of M.A.R., its parent company, subsidiaries, affiliates, divisions,
agencies and exhibitors at M.A.R.’s 2016 Business Extravaganza and Home Expo
(“Home Expo.”), as well as the immediate family members of such persons
(defined as parent, child, sibling, spouse) are not eligible to apply. Grant
Applicant must be 18 years of age or older and a legal U.S. Resident.
How to Apply: Each Grant Applicant must submit a completed “Buyer Eligibility
Form” to M.A.R. by 07:29:59 p.m. PDT on June 16, 2016. Buyer Eligibility
Forms completed prior to June 16, 2016 can be submitted to M.A.R. in person at
or by mail to 411 North I Street, Suite B, Madera, CA 93637 (c/o Home Expo
Task Force), by fax to (559) 673-9050 or by email to
MaderaRealtors@gmail.com. Buyer Eligibility Forms can also be submitted inperson
during the Home Expo upon checking in at the M.A.R. booth located
outside between Hatfield Hall and Van Allen Hall at the Madera Fair Grounds.
Limit of one (1) Buyer Eligibility Form per person and per household. A given email
address and physical address may only be used by one (1) Grant Applicant.
Use of any artifice or method to violate these application restrictions will
disqualify all applications.
Drawing/Grant: After 7:30 p.m. PDT on June 16, 2016 during the Home Expo
there will be a drawing to select seven (7) Grant Applicants to be potential “Grant
Recipients”. The first three (3) potential Grant Recipients drawn will be given the
opportunity to receive a $5000 grant to be used towards the down payment or
closing costs for the purchase of an Eligible Property (“Gift Funds”). The last
four (4) potential Grant Applicants drawn will each be given the opportunity to
receive a $2500 grant to be used towards the down payment or closing costs for the
purchase of an Eligible Property. Odds of being selected are based on the total
number of Buyer Eligibility Forms received. Grant Applicants need not be present
at the drawing to be selected as potential Grant Recipients. M.A.R. will use
commercially reasonable efforts to contact Grant Applicants selected using contact
information provided by the Grant Applicants on their Buyer Eligibility Forms. If
a Grant Applicant is not reached within a reasonable period or for any reason is
determined by M.A.R. to be ineligible, his or her application will be disqualified
and an alternate Grant Applicant may be selected. M.A.R. reserves the right to
verify eligibility of potential Grant Applicants and compliance with pre-requisites
and requirements both before and after the drawing.
Post-Drawing Requirements: By June 30, 2016, each potential Grant Recipient
must submit to M.A.R. a lender pre-approval letter. A potential Grant Recipient
must continue being represented by an M.A.R. Realtor®
through the close of
escrow and must open escrow on an Eligible Property by October 16, 2016. In the
event escrow on an Eligible Property is cancelled for any reason prior to
October 16, 2016, Gift Funds will still be available for potential Grant Recipient
provided that he or she opens escrow on another Eligible Property by
October 16, 2016. If any potential Grant Recipient does not open escrow on an
Eligible Property by October 16, 2016, Gift Funds will no longer be available for
that potential Grant Recipient. By October 23, 2016, potential Grant Recipient
must provide M.A.R. with escrow verification and accurate wiring instructions.
Potential Grant Recipient must provide M.A.R. with a completed W-9 tax form.
After confirming all requisites are satisfied, M.A.R. will directly deposit Gift
Funds into potential Grant Recipient’s escrow account. Unless extended in writing
by M.A.R., all Gift Funds must be returned to M.A.R. if escrow does not close by
June 1, 2017. If escrow is cancelled for any reason, Potential Grant Recipient
must immediately return to M.A.R. all Gift Funds. Buyer may be required to
obtain mutual escrow instructions to comply with these deadlines. If potential
Grant Recipient does not meet a program requirement, M.A.R. may disqualify the
potential Grant Recipient and an alternate potential Grant Recipient will not be
selected.

Zillow Zestimate … How accurate is it?

According to Zillow’s website: Zestimate

There are discrepancies with accuracy of their estimates. After getting local comparisons from property in town and properties in the rural area just outside of town, Zillow had the same cost for two separate homes with similar square footage with 50 years difference in age.

target dartOne example is as follows:  A Zillow Estimate for an older home (built in 1952) in the rural area was similar in price to a homes in newer developments closer to the city.  Newer homes were built in 2000s and 1990’s and more than 10 miles from the older home.  The 1952 home was closer to dairies, 10 miles away from supermarkets and shopping centers, movie theaters, fast food/fast casual/sit down restaurants, high schools, churches, parks, public services, and other amenities. The living area of the home was similar in size around 1600 square feet. The main difference was age and location. How can the 1952 home be the same price of the 2002 home? The 1952 home has a swamp cooler only, never been remodeled after the 1980’s, no major structural upgrades, appliance changes through the years, have the same zestimate of homes built in the 2000’s.

If Zillow’s main estimates are based on size of the home (floor area), then the estimated home value is off. Zestimate was not based on a walk-through of the home to verify existing conditions and check on the quality of the home. Did the comparisons have working heating and cooling systems?… hard woof flooring vs. linoleum or vinyl tile?… a dated kitchen of the 1970’s or a 2012 remodeled and upgraded kitchen?….A ready to move-in home or a fixer upper with twice the cost to repair the purchase price of the home?…and so on…

If you are thinking about selling your home, contact a local real estate agent or real estate appraiser familiar with the area to get a more realistic estimated value of your home.  Instead of being more than 25% off the possible listing/selling price, get at least within 2.5% by contacting a Realtor.Zestimate states

Home Buying Financing Options / Real Estate Financial Services, Inc.

HOME BUYING FINANCE OPTIONS

**FHA Down Payment Assistance – with 620 or better Mid Fico.

**FHA Loans – with 550 or better Mid Fico.

**ITIN Program – Up To 80% LTV, 30yr Fix Loan, Full Doc Only, 43% DTI, & 2 months of PITI requested for closing

**No Income Doc Investor Cash Flow – Qualified solely on Rental Income, 660 Mid Fico, Purchase 75% LTV & Cash Out 65% LTV, SFR,Condos, & 1-4 Units, Loan Amount up to 1million

**Foreign National Program – Up to 75% LTV, Full Doc, Occupancy Primary/2nd Home/Investment, 5 year Balloon with no PrePay, Down Payment must be in the country for 30 days mininum.

**Second Chance Program – Up to 90% LTV, Full Doc, 43% DTI, Bankruptcy/Foreclosure/Short Sales are OK, Need 2 Months of PITI Post Closing.

**FHA Repair Escrow (HUD REO)– Up to $5,000.00 with 640 Mid Fico.

**LP/Freddie Mac vs FNMA – We find the best program that fits your client’s needs

**HUD Section 184 Loans (Native Americans)– Down lower then FHA,

No Monthly Mortgage Insurance, Low Interest Rates, Fix Loans, Credit Scores Not Used (Tribal Card-Registered)

**USDA and VA Programs – 0% Down and NO MI!!!  620 Fico Score.

**LPMI to 97% LTV – Great alternative for FHA Buyers. One Loan with NO Mortgage Insurance.  660 Mid Fico Score

**Credit Assistance Evaluation– Helping Future Home Owners become Borrowers


FOR FURTHER INFORMATION AND TO FIND OUT HOW MUCH HOME YOU CAN AFFORD, CONTACT:

Rolando Valverde

Senior Loan Officer

Fluent in Spanish

DRE#01349277

NMLS#303346

Real Estate Financial Services, Inc.

800.732.5414, Processing

415.377.3330, Cell

209.839.8930, Direct

209.836.8655, FAX

rolando.valverde@rwnc.net

www.rwloan.com

BROKER AND BUSINESS OPEN HOUSE SATURDAY 8/22 FROM 11AM TO 2PM – 1950 E DIVISADERO ST, FRESNO CA 93701

BROKER AND BUSINESS OPEN HOUSE

1950 E DIVISADERO ST, FRESNO CA 93701

SATURDAY, AUGUST 22 – 11AM TO 2PM

DSC02649

THIS PROPERTY IS CONSISTS OF 2 PARCELS:

1 RESTAURANT BUILDING (1950 E DIVISADERO ST) AND 1 HOUSE (2703 TUOLUMNE ST) IN THE HEART OF DOWNTOWN FRESNO.

THE HOME IS 840 SF AND THE RESTAURANT IS 1494 SF. BOTH ARE LISTED AT $259,900.

THE RESTAURANT WHICH INCLUDES A PREP AREA, SERVICE AREA, RESTROOM, UPSTAIRS STORAGE, STAND UP 2-DOOR COOLER, ICE MAKER, 3-COMPARTMENT SINK,  AND OTHER KITCHEN APPLIANCES IS FOR LEASE AND THE ASKING IS $1350/MONTH.

DAILY POPULATION IS OVER 40,000 WITHIN A 3-MILE RADIUS.

 

EMAIL PHOTO 4

THE HOME WAS REMODELED IN THE 1990’S AND IS IN GOOD CONDITION.

EMAIL PHOTO 2

THE RESTAURANT HAD PREVIOUS SANDWICH SHOPS. IT DOES HAVE EXISTING FOOD SERVICE EQUIPMENT AVAILABLE, BUT THERE IS NO COOKING EQUIPMENT.