Archive for the ‘Mortgage Rates’ Category

  • Scariest Situations for Home Buyers & Sellers – Part 4

    Scariest Situations for Home Buyers & Sellers – Part 4 So, where are we?  We have an accepted offer, the home inspection went well, we successfully negotiated a Request for Repairs, the appraisal supported the purchase price, the buyer has removed all contingencies and now it is an unconditional offer.  The finish line is in sight.  But, there are still a few more “scary” steps ahead of you.  For one, the lender needs to get the final loan documents to the escrow company so the buyer can meet with a Notary to sign everything.  Now that part can be a little intimidating and nerve-racking for a buyer.  That is why it is very important for the loan officer to review the Estimated Settlement Statement or Loan Estimate with the buyer(s) BEFORE they sit down with the Notary.  This ensures a less-stressful, and less-scary, loan signing.  Next is for the buyers to conduct the Final Walkthrough of the home, contractually this is to be done 5 days before the close of escrow.  This is important to confirm that the home is in relatively the same condition as when the offer was accepted and no damage was done when the seller moved out.  Now the seller is also supposed to remove all personal items from the home, but often some things are left behind, like yard products (fertilizers, bug sprays, etc.)  And while the seller is required

  • $100 = $20,000

    A recent study by the personal finance website SmartAsset shows that having a roommate in San Diego will save a renter $6,768 a year or $564 a month.  While that certainly makes financial sense for renters what many prospective home buyers may not realize is that $564 in monthly rent could be paid to them as a future home owner.  This will dramatically boost their purchase power because with rates so low right now $100 = $20,000 in purchase price. Let me explain. Let’s say your budget shows you homes for sale in the $350,000-$400,000 range.  Knowing that you could rent out a room for $564/mo means you could look at buying a home in the $450,000 – $500,000 range.  I’m guessing that increase would really open up a lot of properties that weren’t previously available to you.  And this is a very conservative estimate for roommate rent given that the average rent for two people is $1,743 here in San Diego.  I know from personal experience that you could rent out a room for much more per month.   To find out exactly how much your purchase power would increase given a rental income boost click this link:  I Want To Know What My Purchase Power Is.   By David Hughson Mortgage Planner – Rental Income Expert 858-863-0264  

  • Scariest Situations for Home Buyers & Sellers – Part 3

    Scariest Situations for Home Buyers & Sellers – Part 3 Thanks for checking in with me.  This is Part 3 of a 4-part series, so I invite you to check out the other videos, I know you will find them informative. So, in the scenario we are talking about, we are already in contract, we have conducted the general home inspection and after some anxious anticipation, the appraisal report comes in!  And……it is UNDER value!   Ouch!  No scarier situation than that, especially for a first time home buyer or first time home seller.  So what now?  Well now we have a few options, as a buyer, we will try to negotiate the contracted price DOWN to the appraised value.  As a home seller, we would negotiate hard to hold to the contracted sales price and have the buyer come in with the difference.  Now, how this goes depends on many variables, how much the buyer has for a down payment,  if it is a 100% LTV VA-buyer, no much chance the buyer can come up off of the lower appraised value, and as a seller, if there were multiple offers, we can always cancel the contract, if the buyer doesn’t want to come up with the difference, and go back to the market for another offer. If you are looking for someone who will treat your money like I was

  • Scariest Situations for Home Buyers & Sellers – Part II

    Scariest Situations for Home Buyers & Sellers – Part II This is Part II, be sure to check Part I if you haven’t already. So, another “scary” thing about buying a home, or for that matter, selling a home, is the Home Inspection! May thing can come up during this process and you have to be ready to receive a final home inspection report that…can look pretty scary!  It is the duty of the home inspector to point out every fault or deficiency with a home.  But, that is what you want in a home inspector.  Someone who isn’t afraid to “tell it like it is.”  Now, it is the buyer, or seller’s, choice to use whatever home inspector that they want, but here at The GreenHouse Group, we have one home inspection group that has, time and again, proven their value to 0ur clients, with such consistency, that we recommend our buyers and sellers, consider them when searching for a home inspector. As with any home inspection, there will be a handful of things that the inspector will find.  I always meet with my clients to conduct a Post-Home Inspection Huddle-Up.  We will discuss your concerns with the findings of the report, I will share what came up for me after reading the report, then we will craft an approach to either move forward and negotiate a Request for Repairs,

  • Scariest situations for home buyers & sellers

    Scariest situations for home buyers & sellers. Contact me for more information, I am happy to help you buyer or sell real estate in San Diego. Craig Sutliff The GreenHouse Group Craig@GreenMeansGrow.com 619-857-

  • Learn How to be a Millionaire! The Millennial Millionaire Maker

    Learn How to be a Millionaire!  The Millennial Millionaire Maker Please contact me at: Craig@GreenMeansGrow.com Cell: 619-857-

  • Mortgage Pre Qual vs. Pre Approval

    The Skinny on Pre Qualification Getting pre-qualified is the initial step in the mortgage process, and it’s generally fairly simple. You supply a bank or lender with your overall financial picture, including your debt, income and assets. After evaluating this information, a lender can give you an idea of the mortgage amount for which you qualify. Pre-qualification can be done over the phone or on the internet, and there is usually no cost involved. Loan pre-qualification does not include an analysis of your credit report or an in-depth look at your ability to purchase a home. The Skinny on Pre Approval Getting pre-approved is the next step, and it tends to be much more involved. You’ll complete an official mortgage application, then supply the lender with the necessary documentation to perform an extensive check on your financial background and current credit rating. (Typically at this stage, you will not have found a house yet, so any reference to “property” on the application will be left blank). From this, the lender can tell you the specific mortgage amount for which you are approved. You’ll also have a better idea of the interest rate you will be charged on the loan. With pre-approval, you will receive a conditional commitment in writing for an exact loan amount, allowing you to look for a home at or below that price level. Obviously, this puts you at an advantage when dealing with a

  • The Subprime Mortgage Meltdown….explained by stick figures!

    Much time has passed, and many people don’t really know how the whole Subprime Mortgage Meltdown happened.  People who have seen the recent movie, “The Big Short” have a much better idea, but for those who have not, take a look at this quick video and you will have a better understanding of just what happened. It is pretty funny, but has a few “bad” words in the text near the end, so for the easily offended…harden yourselves! Trust me, you will come out enlightened…..or something else. Cheers, Craig Sutliff Mortgage & Real Estate Consultant The GreenHouse Group. Cell:  619-857-4954 Email:  Craig@GreenMeansGrow.com

  • How to Choose an Agent

    How to choose a real estate agent to help you buy or sell a home. Most people start their search online or seek the advice of friends. Some people will seek out top producing agents or start at some of the big companies such as Century 21 or Prudential. But, will that guarantee you of an exceptional agent, or even, an exceptional experience? Experience shows that what matters most is finding an agent that you have a personal connection with, and who is going to have a laser-like focus on your needs and do everything to achieve the goals. If you’re looking for an agent that will work tirelessly for you, then look no further. Please give me a call or shoot me an e-mail and I will provide you with a free 90-minute consultation to find out exactly what you’re looking for, what is important to you, and to see if we are a good fit for each other. There is absolutely no obligation from this meeting, what really drives me is to leave people better than I found them. I look forward to hearing from you. Craig Sutliff Real Estate Consultant & Mortgage Planner The GreenHouse Group P: 619-857-4954 E: Craig@GreenMeansGrow.com BRE Lic# 01735288, NMLS ID#

  • Brexit for Breakfast, yum!

    Brexit for Breakfast, yum! So what does England withdrawing from the European Union mean for the mortgage and real estate market? Well, as I’m sure you’re already aware, we have had a massive sell-off in the stock market.  The money that used to be invested in stocks, is now running to the safety of bonds.  With the increased demand for bonds the price of bonds increases which, consequently, pushes the interest rate, or yield, of those bonds down.   In turn, this translates into lower mortgage interest rates.  So if you are buying a home or refinancing your current mortgage right now, your timing could be no better.  Lower interest rates means lower payments and increased savings, something everyone loves!  Additionally on the real estate side, these lower interest rates will increase your purchasing power and will allow you afford a higher-priced home without an increase in your monthly payment!  The old adage that it only makes sense to refinance if you drop your interest rate by 1% made sense in the “old” days when most mortgage loans were around $100,000.  But, most people have mortgage loans ranging from $300,000 to $600,000 and even .500% drop in interest rates could save you tens of thousands of dollars.  So, for a free mortgage loan consultation to see if refinancing might make sense for you, or how much more purchasing power a lower rate will provide you, give me a call or shoot me an

The GreenHouse Group, Inc. | Real Estate Consulting & Mortgage Planning. "Moving People With Purpose."

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