Buying and Financing a Bay Area Home: Common Questions

If you or your spouse are 55 or older, Prop 19 lets you transfer your home's Prop 13 taxable value to a replacement home anywhere in California, up to three times, if you buy within two years before or after selling. The new home can be worth up to 100% (bought before selling), 105% (within 1 year after) or 110% (within 2 years after) of the old home's value; above that, the difference is added to your tax base. File within 3 years with the assessor of the new home's county. Visionary Estates has a free Prop 19 calculator at visionaryestates.com/prop-19.php.

Yes. In California, a licensed real estate broker who also holds an NMLS mortgage license can represent you on the purchase and arrange your loan, as long as any compensation from both roles is disclosed to you in writing. Bilal Salimi of Visionary Estates (DRE# 01480904) arranges financing through his mortgage company SI MTG (NMLS# 300923), so Bay Area buyers have one advisor from the first showing to closing.

Often, yes. In California, a buyer's agent can credit part of their commission to the buyer to cover closing costs or buy down the interest rate, but the credit must be written into the purchase contract and approved by your lender, and loan programs limit how large a credit can be. Visionary Estates discusses this option with every buyer up front.

Compare official Loan Estimates from at least two or three lenders on the same day for the same loan amount and terms, and look at the APR, points, and lender fees, not just the rate. A mortgage broker can shop multiple wholesale lenders at once. SI MTG, Visionary Estates' mortgage partner, will review a Loan Estimate you already have from your own bank for free.

Usually, yes. Many lenders count RSU and bonus income when it has a consistent history, typically about two years, and is likely to continue, which is common for Bay Area tech employees. Each lender calculates it differently, so the same income can qualify you for different amounts. SI MTG compares lenders to find the one that counts the most of your income.

Yes. Self-employed buyers can qualify with tax returns, and if write-offs make their taxable income too low, they can use bank-statement loans that qualify based on 12 to 24 months of business or personal deposits instead. These loans usually carry somewhat higher rates or down payments. Visionary Estates and SI MTG help self-employed Bay Area buyers find the right program.

Before you write an offer, look at the home's orientation and natural light, the street and lot layout, recent comparable sales nearby, and whether there is room for an ADU or garage conversion. These factors affect value and resale. Visionary Estates gives buyers a pre-offer review of these items, which supplements, but does not replace, professional inspections, surveys, and city zoning checks.

In most cases, yes. California state law allows accessory dwelling units (ADUs) on most single-family and many multifamily lots, and cities like Fremont must approve qualifying ADU applications that meet state standards. Lot size, setbacks, utilities, and HOA rules still matter, so confirm with the city's planning department before you buy.

Visionary Estates helps buyers and sellers across the Bay Area, including Fremont, Newark, Union City, Hayward, Milpitas, San Jose and the rest of the East Bay and Silicon Valley. The office is at 44840 S Grimmer Blvd, Fremont, CA 94538, and the phone number is (510) 786-8739.

Bilal Salimi is a Fremont-based California real estate broker (DRE# 01480904) and mortgage broker (NMLS# 300923) with more than 20 years of experience. He runs Visionary Estates for residential real estate, SI MTG for home loans, and Salimi Investments for commercial real estate.