June 2020 Residential Lending Successes and News

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Good morning to June;

Mortgage Rates: Time is Now

Don’t Miss Out

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

Good News: The hype about pent-up-demand is coming to pass. Yet what we still lack is an increase in the number of entry level homes to meet this increasing demand. Such is the way of the real estate market and its on-going dynamics of bringing balance between housing supply and Buyer demand. The good news: Sellers will soon respond with their increasing confidence of our rebuilding economy. The free market is more than just numbers. It is people, too.

Points of interest:

  • Interest Rates: Rates are great. VA rates and FHA rates are still in the 2’s and 3’s.
  • More Good News: We have 80/10/10 Jumbo loans !! And the good news continues.
  • Underwriting: Purchases are underwriting’s first priority – turn around time can be a quick couple of days. Amen. How about Refinance? Better turn-around times are coming. Currently, it can be 2 weeks, even longer for complex loans.

Best response: Start the paperwork today. Let talk.

  • Housing: For Buyers trying to guess the market, Seller’s are holding steady. The hope for continual easing in valuations – due to the virus scare – seems over. Sellers know how these great rates benefit the Buyer, each month. Don’t miss out !!
  • Stock market: Fed and DC policy have successfully lifted the stock market from its market lows. This positive action will begin to find its way into our real estate market.

Market News

1) US Economy: As we enter the days of re-opening, key is the service industry – Restaurants and Entertainment, Hotels, Doctors, and Hair and Nails. They are early indicators of an improving economy. We will watch and report on the trend lines.

2) Employment: 20 % speaks to the immediacy of what is called a Black Swan event. It strikes fast, sudden, and dramatic. The Good News: Uncle Sam – the Fed, Congress, and the President – gave a quick, aggressive response. The stock market has rallied, anticipating a strong recovery. So let us do our part by helping the ones’ struggling by supporting the businesses who employ them. It is time we all get back to work. The Good News: The numbers are improving and strengthening.

3) Elections: Perils and risk to ballot box integrity is on the front page – mass voting by mail. The possibilities of fraudulent outcomes make this a non-option. We are not a third-world.

Recent Residential Success Stories

Refinancing: For those wanting the lowest rate, timing is everything. Key is preparing early, today. The early bird – the one best prepared – has a far better chance for a rapid turn around, by loan underwriting. We are ready to start today. Call Now !!!

A fun success story: In the midst of crazy times, we are successfully closing refinances. It is the market sweet spot, especially for owner occupied loans, under $ 510,000. Lenders do like to see great credit and a low loan-to-value. The Good News: Rates are awesome.

Purchasing: Purchases by “first-time” homebuyers are up. Recent successes include a self-employed consultant plus an independent insurance agency owner. Americans are resilient.

Reverse mortgages: With rising home values, this is a great way to stay in one’s own home and neighborhood. Though our grandparents didn’t think about living past 70, today, we think well past 80. Our goal: Help each person continue to be pro-active in what they do and is important to them. Not all answers are easy, yet with a good data, solid plan, and a caring spirit, good choices have away of coming together.

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

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 ***

Closely held stock, owner occupied real estate, and small business, share a common desire: Reducing capital gains taxes, thereby keeping more of their investment working for them. Keep asking your questions and we will seek helpful answers. Call today.

Real Estate – A Great Time to Refinance

Actions by our Federal Reserve brought needed stability to mortgage-backed securities. These needed actions brought a tremendous up surge in refinances The result: Overwhelmed lenders could not keep pace. Fortunately, we are about through this initial surge, as completion times have shortened. The Good News: A return to “normalcy” could see some further rate improvements. Why? Because mortgages carry differing ways of measure risk, than do US-backed treasuries. Let’s talk 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 over time. You will be surprised. Let’s talk today, so the fun can begin tomorrow.

Because You Matter

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.

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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