16 • JUNE 2017 • UPBEAT TIMES, INC.


‘Summer Guide & Whats UP! TM


TM


THE MORTGAGE COACH


SANTA ROSA, CA. ~ Te sun- light streaks through the blinds much too early these days, and daylight stretches into the eve- ning. Summer is almost here and the time is right for vaca- tions or planning for your next move. Whether you are planning to buy your first home or mak- ing that move up, summer is the prime home buy- ing season. With each gen- eration, there is a desire to es- tablish their own foundation for rearing families. Tere are times when it feels as though they are being leſt behind, but every generation has felt that way. Affordability seems like a


Beefed Up Income Limits! by Barry O'Meara • barryo@stearns.com


moving target that is just out of reach. For all those “millennials”, don’t despair!


Every hous-


ing market and community evolves. As newer homes get built, the move- up buyers are less timid about be- ing able to secure their next home. Te housing in- ventory has been tight because the potential sellers fear they won’t be able to find a re- placement prop- erty. Tis seems


like a musical chair game. We need to bring in more chairs. Tere have been some


recent changes to one of my favorite home loan programs, USDA home loans.


USDA


Sonoma County’s Upbeat Garage Door Company!


Overhead Door Company of Santa Rosa, Inc.


does a 100% financing and have increased their eligible income limits.


For instance,


income limits, a household of four can earn up to $105,350 a year and a household of five or more can earn up to $139,050. USDA has a loan program funded through our Depart- ment of Agriculture that is designed to help underserved areas, typically outside city limits. Once considered Farm Loans, these loans are not for the farm but for the home.


If


you are looking at a home out- side city limits, this loan pro- gram may work for you. Eli- gible properties are Windsor and north, all of east and West County. Te program does require the home to be owner occupied.


are not allowed.


Investor purchases It does have


income restrictions that vary from county to county.


Sonoma County that top an- nual income limit is $105,350 for a family of 4 and $139,050 for a family of 5 or more. For Mendocino and Lake Coun- ties the income limit is $78,200 for up to 4 family members and $103,200 for 5 or more. Te program has a minimum credit score of 640. If you have been victim of the economic turndown that resulted in a Bankruptcy, foreclosure or


... continued on page 19


Overhead Door is a leading provider of overhead and garage door systems. From residential garage doors to commercial overhead doors and openers, Overhead Door provides Upbeat solutions, service and support you need to ensure your home or business is safe and has reliable access everyday.


It is our business to


provide for the needs of our


customers and to strive for 100%


satisfaction, in our


attitude and in spirit. ~ John


A


Miracle Production Shekeyna Black


www.AMiracleProductionAMP.com A Miracle Production (AMP)


202 West 7th St. Santa Rosa, CA 95401 707-545-7528


16 • JUNE 2017 • UPBEAT TIMES, INC.


www.overheaddoorcompanyofsantarosa.com (707) 542-4949


Serving the North Bay Since 1958 250 Colgan Avenue ~ Santa Rosa, CA 95404


Produces & Promotes concerts, festivals and events focusing on economic and environmental sustainability.


(707) 529-0816 shekeyna@AMiracleProductionAMP.com “The fool doth think he is wise, but the wise man knows himself to be a fool.” ~ William Shakespeare In


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