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Folsom Weekly with Rondo & Nate Real Estate - May 17

Folsom's Presidential Scholar, 'Brews in the Burbs', and How to Find the Perfect Mortgage 🏡

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Rondo Membrere
May 17, 2024

Welcome To Folsom Weekly, By Rondo & Nate

This week we cover:

  • 📚 Folsom’s 2024 U.S. Presidential Scholar

  • 🍺 'Brews in the Burbs' Craft Beer Festival

  • 🏡 Finding the Right Mortgage For You

  • 🐰 A Baby Bunny Rescue, Arcade-Cripple Creek Trail Opening, and a Brand New Roundabout!

Folsom's Penelope Oliver Named 2024 U.S. Presidential Scholar

Penelope Oliver, a Folsom resident and senior at Horizon Charter School, has been named one of the 161 U.S. Presidential Scholars for 2024.

She is being recognized for her accomplishments in academics, the arts, and career and technical education. "I still haven't gotten over it. To me, this means that hard work does pay off, that I'm living proof that dreams and ambition and having compassion and passion to change your community are so powerful," said Oliver.

The annual "Brews in the Burbs" craft beer festival is making its return on Saturday, May 18. Hosted by Sunrise MarketPlace, this 21-and-over event will feature craft breweries from across Northern California.

The festival will transform the parking lot outside Macy's into a lively "backyard hangout" complete with food trucks, popular backyard games, and live music. Tickets range from $20 for designated drivers to $70 for VIP access.

Dignity Health Mercy Folsom Hospital celebrated nurses during Nurses Week by participating in the nationwide "Nurses Light Up the Sky" campaign.

Hundreds of luminaries lined the sidewalks and parking lot, while the hospital rooftop glowed with lights.

"The lights illuminating the night sky symbolize the collective strength and resilience of our nurses and healthcare team, who bring holistic care and healing to our community," said Lisa Hausmann, CEO & President of Dignity Health.

🏠 Which Mortgage Is Right for You?

Choosing the right mortgage is as crucial as finding your dream home. Let's break down the various loan types to help you pinpoint the perfect match for your financial needs:

  • Conventional Loans: Ideal for those with a credit score of 620 or higher. Offers down payments as low as 3%, but 20% down avoids private mortgage insurance (PMI).

  • FHA Loans: Suitable for those with lower credit scores. Start with as little as 3.5% down; however, these loans always include a mortgage insurance premium.

  • VA Loans: Exclusively for veterans and military members, offering 100% financing with no PMI or down payment required. They issued a record 1.4 million loans in 2021.

  • USDA Loans: Tailored for buyers in rural areas with moderate incomes, these loans provide full financing and lower mortgage insurance costs. Income limits vary by location.

  • Jumbo Loans: For homes over $726,200, requiring a credit score of 700+ and down payments of 10-20%.

  • Fixed vs. Adjustable Rates: Fixed-rate mortgages offer a consistent interest rate throughout the loan term. Adjustable-rate mortgages (ARMs) start with lower rates but adjust after an initial period, introducing more risk but potentially lower initial costs.

The ideal mortgage for you will depend on your financial stability, how much you can put down upfront, and your tolerance for risk. With the right knowledge and a careful approach, you can navigate the mortgage process with confidence and ease.

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