Month: November 2023 Informative Articles

Steps to avoid when applying for a loan

By Diamond Country Escrow / November 3, 2023 / Comments Off on Steps to avoid when applying for a loan

Things to Avoid When Applying for a Loan When applying for a home loan, it’s crucial to make informed decisions and avoid certain actions that can adversely affect your mortgage application. Here are some common things to avoid: Remember that mortgage lending standards may vary by lender and region, and individual circumstances can differ. It’s…

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What is an Escrow Officer and Why Do I Need One?

By Diamond Country Escrow / November 3, 2023 / Comments Off on What is an Escrow Officer and Why Do I Need One?

An escrow officer is a crucial professional involved in real estate transactions. Their primary role is to serve as a neutral third party responsible for managing the escrow process. The escrow officer works for an escrow company, title company, or, in some cases, a real estate attorney. Here’s a breakdown of their role and responsibilities:…

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Homebuyers Guide to Navigating a Sellers’ Market

By Diamond Country Escrow / November 3, 2023 / Comments Off on Homebuyers Guide to Navigating a Sellers’ Market

In a hot real estate market, like in California, it can be difficult to buy the home you want when faced with competing offers from other homebuyers. Despite a surge in mortgage rates, the median home price in the state exceeded $800,000 in April, according to the California Association of Realtors. This increase is attributed to market competition. The California housing market also faces an additional obstacle, the “rate lock-in effect,” which reflects homeowners’ unwillingness (or…

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San Bernardino Agrees to Build More Housing

By Diamond Country Escrow / November 3, 2023 / Comments Off on San Bernardino Agrees to Build More Housing

SACRAMENTO — Today, Governor Gavin Newsom and Attorney General Rob Bonta announced that, under the threat of litigation, the City of San Bernardino agreed to update their housing plan to meet their state-mandated goals, which include 8,123 additional housing units by 2029. California law requires every jurisdiction to adopt a multi-year housing plan and the state…

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Mortgage Shopping Worksheet

By Diamond Country Escrow / November 3, 2023 / Comments Off on Mortgage Shopping Worksheet

https://dfpi.ca.gov/wp-content/uploads/sites/337/2019/07/DBO_Mortgage_Shopping_Sheet_English.pdf

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Glossary of Financial Terms

By Diamond Country Escrow / November 3, 2023 / Comments Off on Glossary of Financial Terms

Maturity — When a note, bond or other investment option is due for payment to investors or creditors. Mortgage — An agreement to borrow money from a bank or similar organization to buy a home. Usually the house/property is used as a guarantee for the loan. Money Market Account — Similar to checking accounts at a bank…

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