January 2020 Residential Lending Successes and News

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Good morning to this New Year, that begins a New Decade;

Mortgage Rates Remain Great .

Don’t Miss Out

If you are watching, wanting to buy, wanting more bang for your buck? Now is the time.

Are you renting? We offer market-based calculations comparing renting vs the benefits of owning. Answers can be rewarding. Good news: We seek more than just the big numbers, knowing ‘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 “livability”, than the industry standard of, ‘what you qualify for’.

Great way to Start the New Year – Last call

Our next seminar on “Tax Deferral Strategies for Highly Appreciated Assets”.

When: Saturday the 18th. Time: 10 AM to 12:30 PM. Call today to reserve your seat!

It is a great day: Wanting to consolidate debt or refinance for a better rate? We have excellent tools to help you visualize the full monthly benefits of a straight refinance or consolidating debt. You will be surprised. We are ready to help today, for your better – more simplified – tomorrow.

Let’s talk. You matter: At the heart of my 30-plus years in this business, 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: No expectation for any defining action by the Fed. And with our economy running strong with low inflation – little worry as to a 2020 recession.
  • Stock market: Last summer was the ‘suggested’ of DOW at 29,000. Here we are. What great days for one’s stock portfolio, 401(k) retirement funds, and real estate investments.
  • Trade and Tariff: Good news: The USMCA – far better than NAFTA – is near complete. As for China? Consider, our 10 % tariff caused China to devalue their money 10 %. We go to 20 % and they devalue again. This puts pressure on China’s financial future, their cost of money, and effects far more than just the US market.
  • Lending: NEW loan limits for conventional loans. Single Family is now $ 510,400 and 765,500 for the Hi-Balance areas. 2 – 4 unit properties up as well. There is some tightening beginning to show up as to ‘increased reserve requirements’, for those on the qualifying edge. For Lenders, the priority is the well-qualified, better documented borrower. Call today. It’s a hot market and we know how to make it happen for you.

Market News

1) Trade Talks: The Good News is they continue, though any outcome is more than just ink.

2) Employment: Bay Area now has 4 M jobs.  Median household income is $ 122,000 (10th in the Nation) and a 21.8 % increase in the past 3 years!  Unemployment at 2.1 % in a State with 4.3 % and the Nation at 3.6 %.

3) Split Property Tax Roll: Split Tax Roll:  Claim – only affects business owners.  Truth – our costs at the cash register are affected by the costs the business owner pays.  Claim – close loophole that Prop 13 was only meant for residential property.  Truth – CA has treated resi and commercial as the same since the 1800’s.  Claim – Protects residential Prop 13.  Truth – One step closer to no Prop 13.

Recent Residential Success Stories

Refinancing: They are up – don’t miss out. More and more people want to lowering their interest rates with the bonus of a bit bigger loan. Result, more cash to remodel with little, to no, change in payments. A new, long-term fixed rate, makes for sound financial planning.

Reverse mortgages: Mom and Dad were looking to access the substantial equity in the home they love. Their future heirs were in no need of a big payday, so they were looking to travel and diversify their investments. It is good to know cash-flow concerns are not the only reasons for a Reverse Mortgage. Sometimes it is adding to one’s lifestyle or becoming more adventurous. There is no right or wrong. It far more about knowing your options and then deciding the right path and best pathway, for you.

Self-employed: Have great bank deposits, yet your tax returns show low income? We have the answer. We offer loans based on bank statement and stated income. Call today for details.

Capital Gain Tax-Deferral: Have a client – with California property – who wants to sell, but can’t – because of Capital gains Taxes? We have approved ways to defer such problems and thereby keep all your money working for you. A great opportunity not to be missed. Let’s start planning today. Call now. See above invitation on this topic.

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.

Because You Matter

As you read, if questions come to mind, let me know. Your thoughts and opinion are important. Why? Because people and their best interest, is where my work is focused. It is why I offer guidance –along with a complete set tools– to bring 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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