The loan limits for 2020 are higher than in 2019. If you choose to buy now, you could have more purchasing power than later in the year. You will qualify at the current lower rate, which could result in a higher loan amount than if you waited and rates increased. Contact us and we can...
Tag: California
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BUYING DOWN RATES
Let’s say you are looking to buy a $350,000 home with 20% down for a loan amount of $280,000. You want a 30-year fixed mortgage, and assume the rate is 4.25%; the principal and interest payment would be $1,377.43. If you paid a point, assume the rate would be 3.875% and the payment is $1,316.66....
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LOW INTEREST RATES SPUR MORE REFINANCING ACTIVITY
Today’s post is written by Michael Green, Commercial Loan Originator for Counsel Mortgage Group, LLC. Even more favorable rates have unleashed a fresh wave of refinancing activity during H2-19. Borrowers have been enjoying a low interest rate environment for some time. Yet the Fed’s last 3 rate cuts in H2-19 have stoked a surge...
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2020 Loan Limits
The loan limits for 2020 are higher than in 2019. Here are the loan limits by loan product: Conventional – $510,400 VA – $510,400 FHA – $331,760 (Maricopa County, other counties may differ) USDA – $251,862 These limits mean that to qualify for the above loan product, the loan amount cannot exceed the limit. Loans...
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PLEDGED ASSETS TO LENDER
Are you considering buying a home and using liquidated monies from stock investment accounts? You may feel conflicted because you want to make a large down payment to get a better interest rate, but do not want to sell the assets in your investment accounts and pay taxes on any gains. By pledging the assets...
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FINANCIAL PLANNING TOOLS
We are hearing that reverse mortgages are becoming more of a financial planning tool. Click on this article by one of the lenders to whom we can broker reverse mortgages, American Advisors Group, on 7 Ways to Use a Reverse Mortgage Loan as a Financial Planning Tool: http://bit.ly/2Cdjf5f If you are considering a reverse mortgage,...
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INVESTING: STOCK MARKET OR RENTAL PROPERTY?
Let’s compare the two: The nice thing about stocks is that you simply invest your money in a fund and sit back and watch it, hopefully, grow. Obviously, it is not this easy, as a lot of homework needs to be done up front to make sure you are placing your funds in the right...
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WE HAVE CLOSED MANY VA LOANS
One of the best mortgage loans is the VA loan; if you are a veteran, you should consider this loan. For conforming loans, the VA loan allows 100% financing and does not have mortgage insurance. Instead, there is a one-time funding fee that can be paid at closing in cash or rolled into the loan....
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COMMERCIAL REAL ESTATE (CRE) FINANCING & FED POLICY
Today’s post is written by Michael Green, Commercial Loan Originator for Counsel Mortgage Group, LLC. The Federal Reserve’s recent interest rate cuts have sent a surge of excitement through the commercial real estate (CRE) market. Fed influenced rates have returned to 2018 lows, however, the Fed’s interest rate reductions have little to do with conventional...