Good morning to August, vacation month;
Mortgage Rates: Time is Now
– Don’t Miss Out –
Waiting to buy – Wanting more bang for your buck – What better time than now !!
Good News: Overall, home sales remain active and the refi market incredibly strong. The good news: Sellers continue selling, with an increasing belief and confidence. Fears cannot stop us. We all know, homes are far more than numbers. It’s about people and families.
This letter will seem longer – we have added a helpful chart, to keep things in perspective.
Points of interest:
- Interest Rates: Rates are great. VA rates and FHA rates are still in the 2’s. Refinance for Veterans: 1) Refi from conventional into a VA loans, and 2) Rate reduction refi’s are NO income or asset documentation. You a Vet? Call today.
- CA Jumbo: Some signs of contraction. The Plus: Our base of Lenders is so strong, we are still very active with Jumbo loan solutions. Call. Let make it happen.
- Underwriting: Purchases – first priority of the underwriter. Turn around time can be a quick couple of days. Amen. How about Refinance? Patience wins.
Key to Success: Start the paperwork today. Let talk.
- Housing: Trying to wait out Sellers? You will find Seller’s confident and holding steady. Hope for new easing in price – due to the virus scare – seems over. Sellers recognize these great rates are a big benefit for Buyers – each month. Don’t miss out !!
- Stock market: Fed and DC policy have successfully lifted differing stock exchanges from lows to highs. And these very lower rates, are a big plus for real estate Buyers.
Market News
1) US Economy: Amazing how a very little thing – virus – can send the world into a panic. From the best of to the great shock of things. Quite the ride for all of us. We are in new waters, as is often the case of events and situations beyond our control. The Good News: The service industry is in the first phases of re-opening – Restaurants, Entertainment, Hotels, Doctors, and Hair and Nails. And with it, pent-up-demand is being freed. Let’s hope government and elections do not get in the way of a full-recovery. We will keep watch.
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2) Employment: There is a maze of conflicting numbers to trying to find what’s valuable. For me, what is most helpful is to see that overall, more people are coming back to work, than not. Result: The unemployment percentages are dropping – Friday unemployment rate posted 10.2 %. While we are hearing of low teen numbers – better than expected – for those making less than $ 40,000 it is near 3X higher. This is sad news. Do ivory tower politicians understand the personal impact of their far reaching rules and the ruin of good people and families? By far, the impact of CoVid has hit entry level / lower economic strata, the most in need with the least amount of access. Buy from your local Small Business and give people a chance. WE need each other and if wearing mask helps, help.
3) CoVid shutdowns: Surprise: Contrary to evening news and all the pundits screaming the sky is falling, here is a chart from the CDC. Deaths and actual death rates are falling, drastically and faster than reported new claims, which are also falling. But, with the media, they care about the CDC only when it supports their agenda. The new threat: Do not open schools – unless. Families, kids, teachers – and scientific evidence – clearly make the point: It is time for schools to open and stop negotiating with our children’s future? They need a good education with trusted teachers and schools. Put the children first as our first priority. We must always be vigilant which inclues keeping children safe from teachers knowing they are sick with a fever. Wear gloves and sanitize doors, often.
Good news and kudo’s to the health sector, as they get better supplies for even better testing.
Recent Residential Success Stories
Refinancing: With 80 % + of the economy working – nearing 92 % + for homeowners – we are running full speed. Are you a homeowner? These very low interest rates are for you! Call today. With dozens of lending partners, we are ready – today – to meet many types of financing needs – even ones others call impossible. Call Now !!
What if I have a great rate from the lows of 2012 or 2016? Have you considered a 15-year loan. It is a great time and excellent opportunity to pay-off of your loan sooner and save big money. Keep in mind, a home and no mortgage, equals new opportunities and more choices.
Here are the numbers of a recent client. Moving to a 15-year loan, saved them 7 years of monthly payments – 84 months. And this for only a 20% increase in monthly payment. But before you jump at the chance or simply say no, let’s talk. When you see what the comparative numbers actually look like, you will be impressed and the personal benefits more obvious. It is far easier than one may think and the compounded benefits are impossible to ignore. Let’s talk.
Call today, let’s run numbers so you can choose yes, no or later.
The Good News: Rates are Awesome.
Purchasing: Purchases are now going forward for those who lost homes in the big financial melt-down. It was a rough and ugly time period. The Good News: With the passing of time, one’s past financials and credit troubles, are no more. Time to get back into a home ! Amen.
Reverse mortgages: With rising home values what a great tool for staying in one’s most familiar home and loved neighborhood. Though grandparents seldom thought past being in the 70’, today, most are thinking well past 80. Our goal: Help each person remain pro-active in celebrating life – family, friends, and all they have accomplished.
Self-employed: These can be difficult times. So please. Let’s talk and review your unique situations and lay out best options and possibilities. I firmly believe in Small Business and those daring to be self-employed. This is the backbone of America and confirmed by the business volume. We ARE getting it done for our Self-employed clients !
Buying your next home: Two very helpful “tools”. 1) A client uses their old home, as collateral for their new home!! 2) A tool whereby one’s current payment on the “old” home, does not count against your client, while settling into their new home. Excellent. You need options, tools, and alternative ideas? We have them. Call today.
*** Keep Your Cash & Defer Taxes ***
Tax Deferral: Desire a major shift in your life? Want to, but taxes are preventing you from taking charge? Such concerns can include: Closely held stock, owner occupied real estate, or a small business. If this is you we have excellent strategies to reduce or defer capital gains taxes. This means keeping more of YOUR hard earned investment dollars, working for you. You have questions? Please ask. We love finding answers that meet your specific need. Call today.
Renting but wanting to Buy?
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’.
Because You Matter
Let’s talk. You matter: At the heart of my 30-plus year career, is the priority of keeping my clients first – my top priority. It is why I offer each client the best of my detailed know-how, tested skills, and practical experience. It is key to finding you a safe, sound, and secure loans – best fit for them. Keeping you informed and up-to-date, makes for better decisions. Call today.
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.