Learning to navigate the home buying process can be daunting if you don’t have the right tools and resources. If you are looking or wanting to buy a home in Santa Barbara or Ventura County or other neighboring communities, then you can’t afford to miss Coastal Housing Partnership‘s 4th Annual Home Buying Fair Saturday, May 9th at Fess Parker’s Doubletree Resort in Santa Barbara.

-Learn how to navigate the home buying process and today’s real estate market
-Get information and resources to help you save money and make good decisions
-Meet with local home buying experts: local real estate agents, lenders, credit and financial advisors, and residential builders
-Attend free educational sessions on key aspects of the home buying process and local market conditions (there will be a session in Spanish as well)
-Leave with great information

The Fair is free for employees of Coastal Housing Partnership members and children under 18; $5 for adults.

Today’s guest post is from Kelly Marsh, Branch Manager of Broadview Mortgage posted on March 24th, 2015.

Mortgage Rate Update

The big story this week was last Wednesday’s Fed meeting, and the Fed statement was well received by mortgage investors. Also positive for mortgage rates, the economic data released last week fell short of expectations. As a result, rates ended the week lower.

LAST WEEK’S RATE TREND IS DOWN

Loan Amounts under $417K, Shown as Note Rate/APR
Conforming 30 year fixed: 3.990/4.060
FHA 30 Year Fixed: 3.625/5.146
Conforming 5/1 ARM: 3.000/3.056
Conforming 7/1 ARM: 3.125/3.114

Loan Amounts over $417K up to County Limits, Shown as Note Rate/APR
High Balance Conf. 30 Year Fixed: 4.125/4.172
FHA High Balance 30 Year Fixed: 3.750/5.264
High Balance 5/1 ARM: 3.375/3.182

Loan Amounts Exceeding County Limits, Shown as Note Rate/APR
Jumbo 30 Year Fixed: 3.750 /3.789
Jumbo 5/1 ARM: 3.125/3.065
Jumbo 7/1 ARM: 3.375/3.211
Jumbo 10/1 ARM: 3.750/3.428

Loan Limit Snapshot

Conforming
All Counties: $417,000

High Balance Conforming
Santa Barbara: $625,500
Ventura: $603,750
San Diego: $546,350
LA/Orange: $625,500

FHA
Santa Barbara: $625,500
Ventura: $598,000
San Diego: $546,250
LA/Orange: $625,500

Thank you Kelly for your guest post!  You can learn more about Kelly Marsh and Broadview Mortgage by visiting www.broadviewsb.com/ and reading her bio on our Award Winners page. Coastal Housing Partnership recognizes the real estate agents and lenders who have completed the most transactions for Coastal Housing Partnership employee members in the past 18 months. The house symbol is awarded with one to four houses in recognition of partner’s extra efforts in helping employees with their housing transactions. Kelly has a four-house rating (the highest rating possible).

Broadview Mortgage is an Open Door Sponsor for our Home Buying Fair on May 9th.

The Newest Phase of the Ventura Orchard Collection has just been released! The Grove at the Ventura Orchard Collection offers beautiful brand new townhomes for less than $400,000. The Grove, consisting of 60 new townhomes, features either 3 bedrooms & a loft or 4 bedrooms. Read more about the new Ventura townhomes and see how Coastal Housing Partnership members save! https://www.coastalhousing.org/blog/?p=246

New Apartments Added to Rental Program in Santa Maria!
Siena Apartments in Santa Maria is excited to release its exclusive discount to The Coastal Housing Partnership. Siena features an ample list of amenities.  CHP Members will receive a $50 discount on their one bedroom apartments or $75 discount on their two bedroom apartments. Read more: https://www.coastalhousing.org/blog/?p=243

Home Buying in Your Future, But Don’t Know Where to Begin?
Come to a free home buying seminar to help you on your path to homeownership.
Upcoming seminar dates:
-February 24 in Goleta
-March 19 in Goleta
-March 24 in Ventura
-April 21 in Goleta
All seminars scheduled from 5:30 – 7:00 pm To sign up for a home buying seminar, visit our site or call the Coastal Housing Partnership office at 969-1025. Read more about our upcoming events.

HOME BUYING FAIR
Save the date! Coastal Housing Partnership’s fourth annual Your Path to Home Ownership Home Buying Fair will be held on Saturday, May 9, 2015 at The Fess Parker Doubletree. The Fair is an opportunity to meet with real estate professionals and to learn more about the home buying process to get you on your path to homeownership, whether you are a first time home buyer, move-up buyer or getting back into the real estate market.

Your Housing Benefits
As an employee of a Coastal Housing Partnership company, you are eligible for savings and benefits whether you are purchasing a home, refinancing your mortgage or renting an apartment. Check out the Coastal Housing Partnership site for more information on how you can save on your closing costs.

Coastal Housing Partnership         (805) 969-1025         www.CoastalHousing.org

The newest phase of the Ventura Orchard Collection has just been released!

The Grove at the Ventura Orchard Collection offers beautiful brand new townhomes for less than $400,000. The Grove, consisting of 60 new townhomes, features either 3 bedrooms & a loft or 4 bedrooms. The Grove is located a short distance from the County of Ventura Government Center. These homes were designed with energy-efficient Green Key features to help save you money. Employees of Coastal Housing Partnership companies receive a $5000 credit toward upgrades or closing costs on the purchase of these homes. Buyers who choose to use the development’s preferred lender also receive 2% of the purchase price as a credit toward closing costs or designer upgrades.

Come to a free home buying seminar to help you on your path to homeownership. Learn the steps of the home buying process, how you can buy a home with less than a 20% down payment and how you can save money using your Coastal Housing Partnership benefits.

Upcoming seminar dates:

• February 24 in Goleta
• March 19 in Goleta
• March 24 in Ventura
• April 21 in Goleta All seminars scheduled from 5:30 – 7:00 pm

To sign up for a home buying seminar, visit us online or call the Coastal Housing Partnership office at 805-969-1025.

Is this a first-time homebuyer’s program?
No, you do not have to be a first-time homebuyer. It is available to any employee of a member company.

Can I use these programs to purchase outside of Santa Barbara County?
Yes, you may use Coastal Housing Partnership financial assistance programs when purchasing a home in Ventura County, Santa Barbara County or San Luis Obispo County.

I own a condo, but want to purchase single-family home? Am I eligible to use Coastal Housing programs? Absolutely! As long as you are an employee of a company that is a member of Coastal Housing Partnership, you are eligible.

Do Coastal Housing Partnership programs apply to mobile homes? No and yes. The contribution from the lender does not always apply to the purchase of a mobile home. (Loans for mobile homes are personal property loans, not real estate loans.) However, the contribution from the home inspection and the real estate agent do apply for a mobile home.

What programs are available to employees of Coastal Housing Partnership members? Employees of Coastal Housing Partnership member companies are eligible for the following savings:
1) Closing costs contributions for a home purchase
2) Lender contributions on upfront fees for a mortgage refinance
3) Reduction in market rent on new leases

How do I obtain a letter of authorization? You will need to fill out an application. Click here and download or call or e-mail the Coastal Housing Partnership office. The phone number is 969-1025. The e-mail address is membersupport@coastalhousing.org.

Do I have to use all the Network Service Providers take advantage of the programs? (I’m using a real estate agent on your list, but not a lender. Am I still eligible for the real estate agent savings?) You may use any or all of the contributions available to you. Each contribution is independent of the other. For instance, you do not forfeit the real estate agent saving if you decide to use a lender that is not part of the program. In order to obtain the assistance, you must use a service partner that is in the program. The savings do not come from the Coastal Housing Partnership. They come directly from the Network Service Partners.

Does Coastal Housing Partnership profit if I use one of the providers on your Network Service Partners List? No. Coastal Housing Partnership does not receive any money from your transaction. The entire contribution/saving goes directly to you.

Would you recommend a real estate agent? No, Coastal Housing Partnership does not make any recommendations as to which network service partner you should use. We are continually growing our list of service partners, so that you have as much choice as possible. It is still up to you to interview the real estate agents, loan officers and home inspection companies to determine which companies will best serve your needs. (Click on Network Service Partners for more information).

What if I am buying the home with someone who is not an employee of a Coastal Housing Partnership company? Only one of the partners purchasing the home has to be an employee of a Coastal Housing Partnership member company. However, the home has to be the primary residence for that partner.