HOA Payment Assistance Program

The California Association of Realtors has established a grant which allows qualified first time home buyers the opportunity to have up to 6 months of their HOA dues paid for through the grant.  The grant is on a first come, first served basis, and the program will end when the funds have been exhausted.

Here is a link for the FAQ: C.A.R. HOA Program FAQ


For more information, contact me at:

  • Jim Cheney, Broker
  • JimCheneyRealtor@hotmail.com
  • 707 494 1055


Don’t Regret Your Choice of Lenders

I don’t normally cut and paste other people’s articles, but I frequently see buyers who regret picking some random lender while making the most important purchase of their lives.  I have worked with a number of local lenders and can offer helpful advice.  The article below was posted in RealtorMag.

Too Many Buyers Regret Their Lender Choice

Twenty-one percent of customers purchasing a home regret their choice of a lender, according to the J.D. Power 2016 U.S. Primary Mortgage Origination Satisfaction Study, based on responses from more than 5,000 consumers. When it comes to first-time buyers, 27 percent say they regret their choice.


One reason for customers’ regret is from a poor experience. These customers say they were met with a lack of communication and unmet promises in obtaining a mortgage. Some home buyers also expressed regret because they felt too pressured to choose a particular mortgage product. They made up their mind due to financial reasons, such as getting a lower rate because of an already established relationship with the firm.

“This ‘happy buyer’s remorse’ is in part due to customers feeling that circumstances out of their control drove them to a particular choice and that options weren’t totally clear,” says Craig Martin, director of the mortgage practice at J.D. Power. “Like a lot of consumers, they are happy with a good deal, but they can feel that they have to jump through hoops to get the deal. In the end, they may not fully understand exactly what they got, and the longer-term risk for lenders is that customers’ perceptions of the deal may change in the future.”

Overall, Quicken Loans ranked highest in primary mortgage origination satisfaction. It is the seventh consecutive year the lender nabbed that top spot in J.D. Power’s ratings. Quicken Loans performed highest in the application/approval process, interaction, loan closings, and loan offerings. CitiMortgage was number two on the list, followed by Ditech Financial.

J.D. Power offers the following tips to mortgage shoppers to help increase their satisfaction with the process:

Plan ahead when researching mortgage options. Customer satisfaction of those who already investigated mortgage options before their home search was 92 points higher than those who waited until after they found a home.

Gather more than one quote. Thirty-two percent of customers who received just one quote had a satisfaction score that was 19 points lower than those who gathered multiple quotes from lenders.

Select on merits. Don’t just choose a lender based on price or affiliation. Customers surveyed who chose a lender mostly due to a price/rate or on a recommendation from someone else, like a real estate professional or builder, were significantly less satisfied with their choice than those who based their selection on other reasons.


Please contact me if you need help with any of your Rincon Valley real estate needs.

  • Jim Cheney, Broker
  • Saint Francis Properties
  • 707 494 1055

Mortgage rate average 9/29


Opinions, estimates, forecasts and other views contained in this page are those of Freddie Mac’s Office of the Chief Economist, do not necessarily represent the views of Freddie Mac or its management, should not be construed as indicating Freddie Mac’s business prospects or expected results, and are subject to change without notice. Although the Office of the Chief Economist attempts to provide reliable, useful information, it does not guarantee that the information is accurate, current or suitable for any particular purpose. © 2015 by Freddie Mac. Information from this page may be used with proper attribution.

30 yr fixed interest rate jump to 3.5% (US average)

WASHINGTON (AP) — Long-term U.S. mortgage rates rose this week, with the benchmark 30-year loan reaching its highest level since June.

Rates remain at historically low levels, however.

Mortgage giant Freddie Mac said Thursday the average for the 30-year fixed-rate mortgage jumped to 3.50 percent from 3.44 percent last week. It was the highest level since June, when it averaged over 3.60 percent. Still, the average 30-year rate is down from 3.91 percent a year ago, and is close to its all-time low of 3.31 percent in November 2012.

The 15-year fixed mortgage rate edged up to 2.77 percent from 2.76 percent.

Long-term mortgage rates tend to track the yield on 10-year Treasury notes, which rose sharply amid volatility in the U.S. stock market. The yield on the 10-year notes soared to 1.70 percent Wednesday from 1.54 percent a week earlier. It rose further to 1.72 percent Thursday morning.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country at the beginning of each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for a 30-year mortgage fell to 0.5 point this week from 0.6 point last week. The fee for a 15-year loan was unchanged at 0.5 point.

Rates on adjustable five-year mortgages averaged 2.82 percent, up from 2.81 percent last week. The fee remained at 0.4 point.