There’s a brand new loan out there that let’s you payoff your student loans without the typical penalties! Well, to explain the benefits of this loan we first need a little background. Normally, when you refinance to take $ out of your home to payoff anything other than your current mortgage it’s called a Cash-Out Refinance. It’s a perfectly acceptable, common, and even strategically sound way to lower your monthly expenses. BUT, a Cash-Out refi can come with some additional costs in your rate, and limit how much you can borrow. Our new loan now allows you payoff Student Loans thru a refinance with NO Cash penalties! This can be a huge savings. For example you could see rates .375 lower (or more!) on this program. On a $450,000 loan a .375% reduction in rate saves $100/mo. If you add in the potential savings of you already get from rolling in your student loans – the monthly reduction in obligations can be huge. Of course, as with any loan, it’s very important to do some strategic comparisons to make sure it’s the right move. Restructuring debt can be a tricky process and you want to work with someone you trust to give you good advice. If you’d like to learn more about this program, or know someone that would, click here to shoot me a quick email – or just
You’ve probably heard that President Trump presently signed an executive order allowing Dodd-Frank to be changed. The promise thus far is that his administration has plans to “cut a lot out of Dodd-Frank”. So at this point you may be asking yourself – ” What the heck is Dodd-Frank?!” Well, essentially Dodd-Frank was a reform act set into place after the big mortgage meltdown. It was designed to place more control on big banks, increase accountability, and increase transparency. On the mortgage side of thing, it can be argued as to whether or not that was accomplished. What is true, is that it created a number of extra waiting period requirements, disclosures, and good deal more paperwork. It also put a lager burden of proof on borrowers when in comes to proving their ability to repay their loan. Ya, but so What? Good question… It’s not clear yet what impact rolling back Dodd-Frank would have the way people get loans. It might make it easier. It might cause another period of turmoil while banks race to learn the new laws. Or, maybe nothing will change at all. One thing I do know is how much I love the way we here at the GreenHouse Group can handle these situations. We’ve been through many of these changes now in the life of our organization. Experience shows that the way we do
The 2016 real estate campaign to buy or sell a home is complete. A GREAT opportunity to take a look back to see what we learned, and what harbingers of truth we can carry forward for the 2017 campaign? We’ll discuss: RENTS looking back then forward RATES looking back then forward Affordability If you are a buyer, now is a very good time to be talking about where you stand now with purchase power as the rates continue to ascend. And, if you are a seller, now is still a great time to see what the last 3 sales on your street looked like to measure backwards on trends so you know what your options are. Hit me up if youre curious about either (or sometimes, both), Jesse@GreenMeansGrow.com 858-863-
Heres a big hug and a thank you to all the families who came out to Kate Sessions Memorial Park this year for our 3rd Annual Pumpkin Patch Party in the Park. We welcomed over 100 families over the course of the day for some games, prizes, contests … 2 bouncies for the kiddos and a killer view only San Diego could offer. We are so grateful to have you as our extended family of clients whom we can look forward to hanging out with each year, like a family reunion ;). Jesse
Jesse’s Secret Stash: Episode 51 | Jeremy Beck On State Of The Real Estate Market We got Jeremy Beck, Co-Owner of The GreenHouse Group and Mortgage Planning Extraordinaire on Jesse’s Secret Stash for your monthly “State Of The Real Estate Market” in San Diego. If you plan to buy or sell a home at some point in your life your going to want to hear what Jeremy & Jesse have to say. These two together make the perfect duo, full of years of experience and they are giving away free information like its candy! You won’t get this information from anyone else so make sure to watch this episode and build your knowledge of the market before you take the big leap of buying or selling your home! In this episode they go into stats for new home buyers and sellers and they also give you multiple reasons why NOW is the best time to either buy or sell a home. The rates have never been lower, and are only going up from here! So listen in for yourself and see why The GreenHouse Group is the place to go when buying or selling your first/next home!
Each year the big lending institutions that regulate “Conforming Loan Limits” determine if the current guidelines are appropriate. This is measured from county to county and typically reflects the median cost of housing in each area. These loan limits are important as they cap the amount on can borrower for specific types of loans. In the past, these limits have been different depending on the type of loan you wanted – FHA, VA, or Conforming. However, more recently they different groups have simplified things by aligning their limits to be the same. There have been many years when nothing changes, and some years some counties change while other remain the same. So as a Mortgage Planner, each year we anxiously await the announcements to find out what we have to work with. We just found out that some counties will get increased loan limits for 2016 – but which ones? This year only 40 counties nationally received increases in their Conforming Loan Limits. Most relevant for us here at the GHG, only 4 counties in CA received increases. They are *Monterey *Napa *San Diego *Ventura These new loan limits will help buyers in that area take advantage of the benefits of conforming loans, when in some cases they couldn’t otherwise. If you’d like to find out what the new limits are, or are interested in how this can be important to
Whether you’re buying a house, condo, or multiple units you will be required to carry insurance. But you may wonder, “what is hazard insurance and how much do I need? What is it? – Hazard Insurance is an insurance policy that typically protects you against fire and other disasters. Policies range from covering nearly everything to just the bare bones. Most commonly it protects against fire. But there are add-on like Earthquake, Personal Property, Liability, etc. You will typically shop a number of different providers to find the best terms and service for you. How much insurance you get is up to you… to a point. The lender will require a minimum level of insurance. That is, they want to make sure that you have a policy sufficient to either rebuild the structure in case of disaster, or at least pay them what you owe them. So, in the case of a House, you’ll need to have coverage that at least equals the amount you are borrowing from the lender. For example, if you bought a 500k home and took a 400k loan, they’ll want you to have a policy that pays out at least 400k. For a condo it’s a little different. Your HOA typically covers the exterior of the building. So you only need to cover your interior space. They call this a Walls-In policy, or often
Client’s have told me that one of their favorite things about working with me and my team is that we take the time to help them get where they want to be. If you goto a bank and apply for a loan they may say “Sorry, You don’t qualify”. But when you meet with the GHG you may hear something like “You’re not ready – Ok, then let’s find the path”. What the hell does mean? One of my favorite things to do is to help someone get a better idea of where they are now, and Exactly what steps to take to get them better prepared. It’s common that I meet with someone who’s in no position to buy right now. I don’t consider that a waste of time, but rather an opportunity to use the time they have to get in the best position possible. Furthermore, having that time to strategize can actually make you stand out even more in this super competitive environment. If you know someone who could use a hand, a strong mortgage plan, without the worry of a pushy salesman, give me a call or shoot me an email. I’ll help to clearly define the best steps to get you where you want to be. Jeremy Beck Mortgage Planner Guy that say “Here’s How” not “No” 858-863-0262 Jeremy@GreenMeansGrow.com
Jesse’s Secret Stash: Episode 42 | Jeremy Beck on Mid Year Real Estate Updates Jeremy Beck, Co-owner of The GreenHouse Group is back on the stash to give you some more tips and tricks of the trade. Him and Jesse talk about the buying & selling homes and how rates and many other things are affecting that process this year. Make sure to tune in and learn for yourself how to stay ahead of the game!