Your July Residential Lending Successes and News

Good morning to July, month of Independence;

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 strong. Though a slight May slowdown in home sales, it comes after a very strong bounce in March & later April. Fears of CoVid are lessening. The good news: Sellers continue to respond with an increasing belief and confidence, that fears cannot stop us. The free market is more than just numbers. It’s people.

Points of interest:

  • Interest Rates: Rates are great. VA rates and FHA rates are still in the 2’s and 3’s. Veterans can refi from conventional into VA loans. And, rate reduction refinances are no income or asset documentation. You a Vet, call today.
  • CA Jumbo market is showing signs of contraction. I expect it to be short-lived. Call.
  • Underwriting: Purchases – first priority of the underwriter. 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.

Key to Success: Start the paperwork today. Let talk.

  • Housing: Buyers trying to out guess the market, find Seller’s holding steady. The hope for continual easing in valuations – 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 their lows. These positive actions plus lower rates, will benefit real estate Buyers.

Market News

1) US Economy: We are in new waters, as is often the case of events and situations beyond our control. In this case, government drive forced unemployment. Initially the wide-spread lock-down orders hit our service sector, which then dramatically impacted consumer demand. The Good News: We are entering the days of re-opening the service industry – Restaurants and Entertainment, Hotels, Doctors, and Hair and Nails. What is discovered – pent-up demand. We will watch and report on the trends and possible second wave, delaying a full recovery.

2) Employment: Claims for un-employment insurance payouts, held steady at 20 million – no increase. Last weeks jobs report showed new job number matched new claims. Signs of a peak? We will watch over the next few months. The Good News: Uncle Sam – the Fed, Congress, and the President – have been quick and aggressive in response. In turn, the stock market has rallied in hopeful anticipation. How can I help? Shop Small Business. Help them and all the people they employ. We are getting back work and the numbers show it.

3) CoVid shutdowns: Surprise: Consumer spending began falling WEEKS before most Governors acted. We the People tells the tale. Now, 50 % of people polled, feel little benefit to face coverings and some studies show the same. Yet if wearing a mask may benefit others – especially the elderly – out of respect, consider a mask – especially in tight quarters.

Recent Residential Success Stories

Refinancing: WE are running full-speed. Currently with 85 % of the economy working – probably closer to 92 % of homeowners – are at work. If a homeowner, these 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 the more interesting ones. Call Now !!!

The Good News: Rates are awesome.

Purchasing: Purchases by “first-time” homebuyers are up. Recent successes include a Visa working client. 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 remain pro-active in what they do and what 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

Great News: Drop in interest rate. Sad News: Lenders are overwhelmed and unable to keep pace. The Good News: A return to “normalcy” could see some further rate improvements. Why? Because mortgages risk is measured in differing, than do US-backed treasuries. It seems crazy, but it is the logic of the market. Keep calling – keep asking – 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’.

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.