April 2020 Residential Lending Successes and News

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Good morning to April showers;

Mortgage Rates: Time is Now

Don’t Miss Out

If you are waiting to buy, wanting more bang for your buck? What better time ?

After a month of CoVid-19, there are signs the hyper-volatility, in the equities markets, is quieting. For real estate finance, the struggle is with lenders. While many are stepping up to the plate, others, under the cloud of uncertainty, are now waiting on the sidelines. It does make for challenging times. But the good news: We are up to the challenge.

Real Estate – A Great Time to Refinance

Actions by our Federal Reserve is bringing welcomed stability to mortgage-backed securities and our treasury market. Sadly, major instability came at the same time as the tremendous up surge in refinance applications. The outcome: A drastic slowing in lender ability to process the paper work. Too often, this resulted in loan-locks expiring to somewhat higher rates. The Good News: Expectations are a return to “normalcy”, should bring better rates. If helpful, mortgages carry a different way of weighting risk, than do US-backed treasuries. Call today!

Our suggestion: Let’s get your paper work done today.

Then be ready for the rate you want to tomorrow. Timing matters.

Are you renting? We offer market-based calculations comparing renting vs the benefits of owning. Answers can be rewarding. Good news: We look beyond the boiler plate, typical big numbers. We understand ‘affordability’ is unique for each and every individual, and family. Our focus is to understand you, asking pertinent questions to help guide your financial future. Our concern is more about “live-ability”, than the industry standard of, ‘what you qualify for’.

It is a great day: Wanting to consolidate debt or refinance. You will be amazed at the benefits of a lower rate of interest and how to keep more cash in your pocket. Best: We have the tools to show you. We will show you the “full benefits” you can achieve – now and overtime. You will be surprised. Let’s talk today, so the fun can begin tomorrow.

Let’s talk. You matter: At the heart of my 30-plus year career, is keeping my clients first. It is a top priority. It is why I offer the best of my technical know-how, skills, and time-tested experience to you. It is key to finding our clients safe, sound, and secure loans – one’s best fit for them. Keeping you well-informed, makes for better decisions. Call today.

Points of interest:

  • Interest Rates: Rates are still low. VA rates and FHA rates are in the low 3’s. We still have 80/10/10 in the Jumbo market. And the news gets better: Purchases get the love, as underwriting turn-around is a couple of days. But for Refinance – better turn around is coming. Currently, turn-times can be 2 weeks to 2 months. Start the paperwork today. Let talk.
  • Housing: Current expectations are in wait, due to our imposed lock down.
  • Stock market: Watching, waiting, and evaluating actions by the Fed and DC policy..

Market News

1) US Economy: Let’s resist comparing today, to 9-11 or the 1918 Spanish Flu. It does not work, nor is it helpful. All of us are ready to return and we will return, doing so with renewed vigor and appreciation. We will drive our cars, fly the skies, and plan our vacations. Our economy may sputter, during the restart, but never doubt the American spirit to succeed.

2) Employment: The surprise should be about maxed out from the recent and very serious numbers. Let us be thankful for extended and increased unemployment compensations, AND help to businesses to keep more people on payroll. Numbers are moving, with the good news: They are moving in the right direction, with more help coming for those affected !

3) Elections: Shall be interesting considering the risks of mass voting by mail. Counting maybe delayed, due to CoVid 19 effecting the Post Office.

Recent Residential Success Stories

Refinancing: Now !!! And for those wanting the best rate, let’s start preparing today. The early bird – the one best prepared – catches the worm. We are looking out for you.

Purchasing: We just helped the daughter of a long-time client, purchase her first home. The listing said the property would NOT pass FHA inspections. However, we had a family ready to put their talents to work, plus they added a great Realtor partner. And together, we facilitated what was needed to make it happen, and we did. The result: A great new home for our client.

Reverse mortgages: Rising home values make this a great tool for staying in one’s home and neighborhood longer. Our grandparents didn’t think about living past 70. Today, our thoughts are well past 80. Thus, my hope is to help each person become pro-active in all I do. Not all answers are easy, yet with a solid data, a good plan, and a caring spirit, good choices happen.

Self-employed: These can be difficult times. So please. Let’s talk and review the situations and seek out options and possibilities. I believe in the self-employed, as the backbone of America.

Buying your next home: Two wonderful “tools”. First, a client uses their old home, as collateral for their new home!! Second, we have a tool whereby the current payment on the “old” home, does not count against your client, while they are settling into their new home. Excellent. You need options, tools, and alternative ideas? We have them. Call today.

*** Keep Your Cash & Defer Taxes ***

Closely held stock, owner occupied real estate, and small business, share a common interest. Reduce capital gains taxes and keep more of your investment, in your pocket. We seek your questions. Call today.

Because You Matter

As you read and listen, if questions come to mind, let me know. Your thoughts and opinion are important. Why? Because people, and their best interest, is my priority. It is why I offer guidance –along with a complete set tools– in bringing answers that work. After 30 years, you know and learn many things about many different circumstances, situations, and people.

Call us – We know success

Thank you for trusting me with yourself and your friends and family. Referrals are appreciated.

Call me – Your success is our priority.

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