Question of the week: Do we have to sell our current home before buying our next home? Answer: Maybe. Maybe not. In the piranha-like feeding frenzy real estate market during the pandemic, and following, very few, if any, sellers would accept an offer from a buyer with a contingency. A contingency being that certain conditions […]
Question of the week: Can I purchase or refinance if I changed jobs?** Answer: Yes, maybe, no…our most common question of the week answer applies this week. We will answer the question in this order. Yes, you can purchase a new home, or refinance a current one, if you have changed jobs in many—most?—circumstances. YES… […]
Question of the week: We want to build on our property… Answer: There are a lot of questions that can finish this sentence. What kind of building? Where? How? What? Last March we covered changes in California laws for property owners building accessory dwelling units (ADU) on their properties. That is one type of building […]
Question of the week: Can we refinance if our home value drops? Answer: Yes, probably…but does the math make sense? This question was asked by a client who is holding off refinancing their home because they think rates will drop further, but also concerned that their home value may drop and they won’t be able […]
Question of the week: What would you do to soften housing market? Answer: Last week we answered “What is impact of President Trump having $200B of mortgages being purchased?” The gist being that it puts downward pressure on rates. This, of course, is good for homebuyers as lower rates mean lower payments mean higher loan […]
Question of the week: What is impact of President Trump having $200B of mortgages being purchased? Answer: As I mentioned in rate recap part of last week’s WR&MU (sorry no link to the update as issue with website—if you deleted and would like to read let me know and I can send to you), President […]
Question of the week: Is your deed correct? Answer: When you own a home you have deed, typically a Grant Deed from the prior owner, that is your proof of ownership. If you have a mortgage, in California there is also a Trust Deed, which places a lien on your property with the lender as […]
Question of the week: Are you licensed? Answer: Yes. On bottom of all my email communications you will see licensing information for myself and United American Mortgage Corporation, with whom I am affiliated and have my licenses registered. Residential lenders and loan originators in California have to be licensed by either the California Department of […]
Question of the week: What is the benefit of putting less money down? Answer: Having more money. Since the beginning of the WR&MU we have used 20% for a purchase transaction (and a 740 FICO score) for the rates posted below. The 20% down payment is used as it is the one most commonly used […]
Question of the week: What should we look at for year-end tax planning? Answer: Tax preparers for clients in Los Angeles County are sleeping in for a few days after the October 15th filing deadline, that traditionally has been used for clients with complicated tax filings after filing extensions for their April 15th tax return […]
