Welcome to The Tom Bass Team


 The Tom Bass Team

Our mission is to handle each and every transaction in a manner that promotes the highest levels of trust, integrity and confidence. We do this by thoroughly educating our clients in order to help them choose the right financing options to minimize costs and maximize net wealth.  Our focused efforts include financial consultations to identify a clear and concise goal for buying or managing your single largest asset -- your home!

 

General Loan Guidelines:

Conventional Loans - all occupancy types; 20% down payment preferred; varies from 1-4 units

Federal Housing Authority (FHA) loans - minimum down payment of 3.5%; owner occupied residences

 Veteran's Administration (VA) - 100% financing available for qualified Veteran's [active and reserve]

State Teacher's Retirement System (STRS) and Public Employees Retirement System (PERS) - minimum down payment requirements from 3 to 3.5% down payment; DPA available for PERS borrowers using deferred comp benefits. *State Teacher's can get a 5-yr interest deferred loan in lieu of mortgage insurance.  Just ask us!!

GREAT NEWS!!!!!  The Federal Tax Credit has been extended through June 2010.  The new guidelines of the extension require a fully executed purchase contract by April 30th, 2010 and a successful closing of escrow by June 30th, 2010.  The Tax Credit for a first time buyer (an individual that has not owned "real property" for three years) remains $8,000.  Better yet >> the revision to the Tax Credit now allows for a move-up buyer to get $6500 for purchasing another home; as long as the repeat Buyer owned the home for at least five years of the previous eight years.  Income caps were also raised to $125,000 per individual and $225,000 per married couple. 

Bayport Financial Inc and The Tom Bass  Team.  Licensed by the Department of Corporations under the California Residential Mortgage Lending Act.