Our mission is to carefully guide you through the entire home loan process, so you feel confident as you make choices about the many options available for your financing strategy. With many years and a wide range of experience in the mortgage industry, our dedicated team stands ready to assist you each and every step of the way.
We understand that it is not just a house, it's your home.
Your home is one of the largest fiancial commmitments you will make during your life and, amazingly, many people view that as meaning just another monthly payment.
We can help you realize that your home is truly a valuable financial tool, and will help you achieve the dreams and plans you envision for your future.
We're ready to work for your best interest!
Most Lenders spend 50% - 70% of their time chasing their next source of business. We do not spend our time and energy trying to obtain business from the general public. What does this mean to you? World Class Service, undivided attention and the highest level of service that you deserve.
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BAY AREA REAL ESTATE MARKETS
One of the many features to a proposal pending in Congress would raise the conforming loan limit in high cost areas (San Francisco Bay Area) up to a maximum of $729,750. As you may know, the conforming loan limit today is $417,000. Raising the conforming loan limit up to $729,750. will have the following positive impacts on our local real estate markets:
· First Time Home Buyer Programs available with just 5% down to purchase prices up to $768,000.
· Move up buyers can obtain the lowest rates to buy a new home up to $912,000. with only 20% down.
· Using a conforming 1st mortgage and a 2nd mortgage, one can buy a home with as little as 10% down with no mortgage insurance for purchase prices over $1,000,000.
· Homeowners with mortgages today between $417,000. and $729,750. will have access to conforming refinance rates with are currently 0.5% to 1.25% better than corresponding jumbo rates. This will improve homeowners’ financial positions by creating more disposable income which helps the economy in general.
· Investors will probably seize this opportunity to combine lower rates, lower home prices, and higher rents to buy properties…thus helping to reduce inventory.
This change – if it becomes law – could be the spark we need to get the local real estate marketing humming again.
One additional note – rates last week fell to a 20+ year low for about two hours before the stock market took an almost 600 point recovery, with rates jumping up. For about two hours on January 23rd, the following rates were available for ‘conforming’ loan amounts:
15 Year Fixed: 4.375% @ 1 Point or 4.625% at No Points
30 Year Fixed: 4.875% @ 1.25 Points or 5.125% at No Points
If you have any questions about this or any other aspects of available mortgage financing, please let me know. Rates and values are currently volatile. I would love to evaluate your current options to improve your home loan financing.