Question of the week: We are retired, how do we qualify for a mortgage? Answer: It may be my client base is aging, or it may be that I am fortunate to have more retirees referred to me for assistance with their mortgages, it is probably both, but we are funding exponentially more mortgages […]
Question of the week: It takes so much money to purchase a home, what are some ideas for saving money? Answer: Two of the hardest things to do are lose weight and save money. Both objectives require the same habits, or routines, to be successful. You need to be committed to your goal, dedicated […]
Question of the week: What do you see as primary factor that could slow the housing market and cause a drop in prices? Answer: In addressing this question I will be using the Southern California market as the “housing market” since that is where the majority of the Weekly Rate & Market Update live. […]
Question of the week: What is the process for our mortgage application when we purchase a home? Answer: Mortgage application packages are very deadline oriented. For a purchase this is because we have a closing date that is agreed upon by the buyer and seller, for a refinance the deadline is when the rate […]
Question of the week: How do inquiries impact my credit score? Answer: A lot or not at all. Quite frequently we have new clients tell us, “don’t run a credit report because I don’t want it to hurt my score.” My response is, “First I cannot give you a solid pre-qualification and […]
Question of the week: When should we have our credit report pulled when exploring the purchase of a new home? Answer: “We got a copy of our credit report on-line, can you just use that?” This is usually the question that precipitates our question of the week. When should you have a credit […]
Question of the week: Why have I received a lot of solicitations for mortgages recently? Answer: Because the credit companies sell your information to credit companies. Data mining and selling has been in the news a lot in the past year, mostly centered on Facebook and other social media companies. But selling data […]
Question of the week: We are thinking about buying a vacation home, what should we know? Answer: With summer upon us and families travelling many may be considering purchasing a vacation home where they like to spend…well their vacations! Between June and September it is not unusual for us to get a […]
Question of the week: We have plenty of money in our accounts and a ton of equity, why is my income so important? Answer: Because it is not 2007 anymore and in 2010 the Dodd-Frank Act was passed by Congress and signed into law. Some history. After the mortgage and housing […]
Question of the week: Our loan is going to start adjusting in 2019, should we refinance and fix the rate now or wait? Answer: Many families purchased or refinanced their homes several years ago with intermediate adjustable rate mortgages, or intermediate ARMs. The type of ARMs have a period where the rate […]
