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If Mortgage Rates Rise Will Home Prices Drop?

In a recent article published by Freddie Mac stated the impact the projected rise in mortgage rates might have on the housing market. We often assume that an increase in mortgage rates will cause a slow down in real estate purchases, which in turn, may lead to a drop in housing prices. But, prices are usually determined by supply and demand and while rising mortgage rates may slow this demand, they also affect the supply. Most people looking to buy a new home will need to sell their existing one. "Once financing costs for a new mortgage rise above the [...]

How Many Smoke Detectors and CO Alarms Should a House Have?

How many smoke detectors and CO detectors should a home have, and where should they be located in order to pass appraisal? This is a very common question and we've been getting a lot of them lately, specifically because homeowners may not understand what they need for an appraisal and because their home is not up to code, need to pay an additional $100-$200 for an appraiser to revisit the home once the proper detectors are in place. So, I thought I would do a post about where these detectors should be located in a home and how many [...]

Interest Rates are still Historically low – 2018!

Good News! Interest Rates are Still Historically Low- 2018! Take a look at this chart below...  for those of you panicking because interest rates will eventually hit 6%. Please realize that we are still way below the average rate of the last 47 years at 8.35% If you have any questions or wonder if NOW is the time to refinance and get cash out or purchase a home before rates rise any further, please contact me 949-600-0944

HECM – The Reverse Mortgage With Literally No Drawbacks

I'm serious... there are really no downsides to the HECM reverse mortgage. I know some of you are going to say, sure, I'm a loan officer, I'm naturally going to say that, but honestly, this program has got a bad rap and I'm not exactly sure why! It's a great program and when you learn all the details, you might think the same. The HECM stands for the Home Equity Conversion Mortgage and it's very similar to a reverse mortgage in that the bank pays you, not the other way around. Let me explain. The reverse mortgage has gotten a bad [...]

Top 4 Best Dog Parks & Beaches in Orange County

So you want to take your best friend out for a run and meet and greet with other furry friends here in the OC... Here are your Top 4 Best Dog Parks & Beaches in Orange County:    1. Laguna Beach Dog Park Nestled in Laguna Canyon, this park offers a fully fenced area for your four-legged family member to run and play and cool ocean breezes for you. After your romp, head down to the beach for boardwalk adventures, or one of the many dog-friendly restaurants on the strip, like the Sapphire Laguna.   20672 Laguna Canyon Rd, Laguna Beach, CA 92651   Huntington [...]

How Does the New 2018 Tax Plan Affect Homeowners?

Many Americans are on edge wondering what this new tax plan may entail and how it will affect them personally. California homeowners especially are curious, and some are a bit anxious as to how these new laws affect homeownership and the real estate market in California, an area that is well known for some of the highest home prices in America. There is a significant amount of confusion about the tax laws in large part due to conflicting laws originally announced by the House of Representatives on November 2, 2017, and the Senate version passed on December 2, 2017. Of course, [...]

Keeping Your Mortgage Approval Approved!

The last thing any buyer wants is to have their financing fall through before they closed on a new house. It's tough enough these days to qualify for a mortgage so you don't want to do anything that could damage your mortgage or upset your interest rates between the time you apply in the time you close. This could be a few weeks or even a month or more depending on the house that you buy and the closing date. It's important not to ruin your approval during this time. Here are some key things to remember to keeping [...]

2 Major Myths That May Be Holding Back Buyers

The Urban Institute recently published a report discussing the obstacles to accessing homeownership. 80% of consumers either are unaware of how much lenders require for a down payment or believe all lenders require a down payment of over 5%. My job is to educate potential homebuyers with the realities of a mortgage and obtaining a loan. The first major myth is that homebuyers absolutely need a 20% down payment. Many homebuyers can overestimate the down payment funds needed to qualify for a home loan. According to the Urban Institute report, "consumers are often unaware of the option to take out low down [...]

Is RocketMortgage Worth It?

We live in an age of button pushers and talking to our devices.  With Google and Alexa we practically don't have to do anything anymore. Just tell her what to do and if she's connected, she can do it. So what about this RocketMortgage? On the surface, it seems like a duh idea. Just push a few buttons and you have a mortgage, right? Well, it's not that simple. When you sign up for RocketMortgage you are essentially letting this company do all the research for you. With one click of a button, you're giving permission to whomever to access all your [...]

Can I Get a Home Loan or Refinance if I’m Self-Employed?

Self-employment - Entrepreneur. It means a lot of things and sometimes self-employed people think they may not be able to get a home loan because they don't collect a W-2 and they think it might be impossible to prove their income. But this is not the case. If you're self-employed and you're looking for a home loan to purchase a home or to refinance,  the process is very similar to that of a typical job,  but you might need to come up with a few more documents. Getting a home loan is getting easier than you think if you're [...]

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