Residential Lending Success for December 2016

Good morning to the Holiday Season of gift giving,

The elections are over, the headlines are eating crow. Even better and more important – home buying has not missed a beat.

Speculation refinancing will slow due to recent bumps in rates, however refinancing for the sake of home improvements, remains a proven investment. This option will strengthen, as purchases continue to outperform the numbers from last year.

Adding to last months success story: We wrote of the number of our many clients going into contract. The excellent news: all have closed and all will be celebrating Christmas in their new homes. It is why we love the mortgage business

One of our strength is respecting the desires and concerns of our clients, with the goal of providing a balanced perspective. One area of growing interest is, how life is in California vs how life is lived in Texas. If you have thoughts or experience, we would love your insight. We have seen this discussion once before, with many deciding to stay or even return to California.

New Data of Interest:

  • Overall, inventory of homes for sale, remains below demand.
  • High-end new construction, continues growing.
  • Note: a different way to read the affordability index number:
    • 25% can afford median priced home and higher
    • 75% can afford median priced home and lower

Lending Tools: Available Buyer Options and Alternative Solutions for Success:

  • 3% down payment up to purchase price of $ 645,000.
  • 3.5% or 5% down payment to purchase price to $ 645,000 – 660,000.
  • 10% down payment to 1.6 M purchase price, 2 loans or 1 loan with no mortgage insurance.
  • New entry-level programs for buyers, designed to keep us out of financial troubles down the road.

Our recent success stories begin in pinpointing what buyers are seeking,

then putting together available options fit to you and your future.

With this in hand, one is now able to negotiate the property right for you.

Lender Concerns: Tools used to protect you and secure their investment.

There are four primary tools the lender uses to protect you while securing the money they loan: 1) Ability-to-pay, 2) Willingness-to-pay, 3) Life-style of choice, and 4) value of the loan in comparison to the value of the subject property. Together they help sharpen our focus as to what one can safely buy, while respecting lender concerns and questions. These are key to the success you seek and deserve. Its what we do best.

In Closing:

Adding to this months’ successes, is a wonderful client moving to San Francisco, closing in under 30 days. What a great way to anticipate the New Year. And here is one more: For a foreign buyer – originally challenged by multiple level’s of documentation – we were able provided a faster solution, with less documentation.

A confident buyer, with an agent focused on buyer needs, plus a proven mortgage broker, is a success story in-waiting. Give a call – success is calling you.

If you are ready for success, we are ready to help. Call today.

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