First Time Real Estate Buyers
MISSION IMPOSSIBLE LOANS — Episode 16 From a Forgotten Movie Theatre to a Thriving Wine Country Bakery: The American Dream, One Pastry at a Time
How an immigrant family’s determination, a daughter’s extraordinary talent, and an SBA loan helped transform a deteriorating commercial property into a successful small business. Sometimes the most important part of a commercial real estate loan isn’t the property, the down payment, or even the financial statements. It’s the story behind the borrowers. This is one…
Read MoreSan Francisco Condo Financing Is Changing — What Buyers, Sellers and Realtors Need to Know
Buying a condominium has always involved more than simply qualifying the borrower. The condo project itself also has to qualify. That distinction is becoming increasingly important as a combination of new Fannie Mae and Freddie Mac lending guidelines, California HOA laws, balcony and exterior elevated element inspection requirements, and San Francisco-specific building regulations changes the…
Read MoreA Major Appraisal Change Is Coming November 2 — What Homebuyers, Sellers and Realtors Need to Know
Most homebuyers and sellers don’t spend much time thinking about the appraisal process. Until the appraisal becomes a problem. Beginning November 2, 2026, one of the largest changes to residential appraisal reporting in more than 15 years becomes mandatory for appraisals submitted to Fannie Mae and Freddie Mac. It’s called UAD 3.6, and it will…
Read MoreLesson 5: Bank Statement Loans — When Tax Returns Don’t Tell the Whole Story
For many self-employed borrowers, there can be a significant difference between taxable income and the actual cash flow generated by their business. That isn’t necessarily a problem with the business. It may simply be the result of how the tax code works. Business owners often legitimately reduce taxable income through ordinary business expenses, depreciation and…
Read MoreLesson 4: Residential Lending Playbook : Beyond Conforming
Government Lending — FHA, VA and USDA Explained Government-backed mortgage programs are among the most misunderstood options in residential lending. Some borrowers assume FHA is only for first-time homebuyers. Some eligible Veterans never seriously consider VA financing because they have heard that VA loans are difficult, sellers don’t like them, or the property won’t qualify.…
Read MoreIs Your San Francisco Condo Still Warrantable? Why Yesterday’s Approved Condo May Not Be Today’s Approved Condo
“But someone in the building just got a conventional loan last year.” I’ve heard variations of that statement many times when financing a condominium. A unit owner refinanced. A neighbor purchased a condo with 20% down. Fannie Mae or Freddie Mac financing was apparently available. So when the next unit comes on the market, everyone…
Read MoreBuying a Fixer Condo? Don’t Let the HOA Become the Real Fixer.
Sometimes the Lowest Price Isn’t the Biggest Opportunity…or the Biggest Risk. Recently, a first-time homebuyer contacted me about a condominium that immediately caught their attention. The listing price was attractive, the monthly HOA dues were only $270, and although the property needed cosmetic updating, the buyer was handy and eager to build sweat equity. On…
Read MoreLESSON 3: NOT ALL LENDERS ARE CREATED EQUAL
Why Good Borrowers Get Declined — And Why Another Lender May Say Yes Have you ever wondered why one lender declines a borrower while another lender approves the exact same transaction? It happens more often than many homebuyers and real estate professionals realize. A borrower may have excellent credit, substantial income, significant assets and a…
Read MoreYour Lender Says the Condo Is OK. But Is the Building Actually in Compliance?
Recently, I visited a 6-unit San Francisco condominium building while on Broker Tour. As I walked through the property, something caught my attention: the building had an exterior staircase and railing elevated more than six feet above the ground. Given the increased attention being paid to exterior elevated elements in California condominium buildings, I asked…
Read MoreCondo Financing Rules Just Changed: Why the HOA May Matter More Than the Buyer
A condominium buyer can have excellent credit, strong income, plenty of assets, and a substantial down payment—and still run into a financing problem. The reason may have nothing to do with the buyer. It may be the condominium project itself. Fannie Mae and Freddie Mac have recently made significant changes to their condominium project review…
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