Posts Tagged ‘refinance’

  • Waiting For Rates to Drop? Now’s the Time!

    Jul 11, 16 • Fat Ashton • RefinancingNo CommentsRead More »

    Waiting For Rates to Drop? Now’s the Time! Waiting for Mortgage Rates to drop before pursuing a refinance? Well wait no longer my good friend, now is the time to refi! After the whole Brexit event, rates on home loans dropped, and we’re still not seeing them fully recovered (A good little hack on motoring rates is cheeking in with the 10 year bond. Although it wont tell you what rates are, it will give you a good indication on how they are moving i.e. bond is up, rates are up; bond is down rates are down. Follow the link here to check out where the 10 year bond is at today). So if you were on the fence 6 months ago when rates were good, hop on off cause rates are great and the time is right! For more info on today’s low rates, email me at

  • 3 Ways To Access Your Home’s Equity

    Home equity has rebounded.  While the U.S. housing market hasn’t completed its rebound, most home values have been rising steadily.  That’s certainly good news for homeowners!  CoreLogic, a leading provider of consumer, financial and property information, analytics and services to business and government reports that 91.5% of all mortgaged properties in the U.S. are equity-positive. There are 3 ways to access your home’s equity that don’t involve selling your home.  The first is to do a cash-out refinance and the second and third come in the form of a home equity line of credit or a second mortgage.  All three options mean you are tapping into your home’s precious equity and doing so should only be after careful consideration.  We all remember the boom years of the last decade when we saw people harvesting large amounts of equity, some up to 100% of the value, only to find themselves and their home’s value under water a few short years later.  Nowadays lending guidelines are much more strict when it comes to accessing your home’s equity so there is protection in place that wasn’t there before.  To find out the advantages of a cash-out refinance or home equity line of credit while maintaining your, or even lowering your monthly payments, and preserving your home’s equity click here. By David Hughson (with thanks to John Robinson’s Inspection Group blog post dated 5/14/16) Mortgage

  • Rent Your Pad on AirBnB? 3 Things You Need to know Before You Refi

    May 2, 16 • Fat Ashton • RefinancingNo CommentsRead More »

    Rent Your Pad on AirBnB? 3 Things You Need to know Before You Refi 05/02/2016 Renting your house or condo out on AirBnB is a great way to bring in a little extra cash to help pay for the mortgage, but did you know there can be serious setbacks if your trying to refinance a property that you rent out on AirBnB? For more info on this, and the three things you need to know about AirBnB and your Pad before you refinance, email me at

  • Credit Cards Can Be Paid Off And Remain Open

    In previous posts I’ve mentioned lenders are slowly loosening the death grip they have on credit guidelines.  Just this week more lending guideline enhancements were recently released from Fannie Mae and Freddie Mac and it will be interesting to see which lenders jump on board first.  I say that because lenders can still impose their own guidelines (they are known in the lending world as “overlays”) on top of the base Fannie/Freddie guidelines.  Competition will ferret out the ones willing to follow suit with the big government sponsored enterprises. One of the best enhancements from the recent release is that credit cards can be paid off and remain open.  This allows consumers to pay off credit card debt to help them qualify for their home loan or boost their purchase power without closing well-established accounts.  Until now borrowers have been able to pay off revolving debt like credit cards and home equity lines but they were required to close them as well.  On the surface this may not seem like a big deal.  After all, not a day goes by without receiving a new credit card offer in the mail box or inbox.  But this is a big deterrent for anyone who has a long established account in good standing because closing an account with good history means you are also closing that long established history. Opening the new account

  • Immediate Credit Score Improvement

    In addition to an active purchase market we are in the middle of a mini refinance boom right now.  Many people are looking to take advantage of their home’s appreciation and the super-low interest rates to improve their repayment terms by refinancing their current home loans. As always is the case credit score plays a big role in determining someone’s final interest rate.  What you may not know is that credit-score requirements for home loans are broken down into 20 point tiers. They typically start at 580 and cap out at 740.  The tiers start at 580, 600, 620, and so on until you reach 740.  While the credit score range is much broader than that (the range is 300-850) what those numbers mean is if you have a credit score lower than 580 we need to spend some time improving/repairing it before you apply for a home loan and if your score is 740+ then there is no need to improve your score prior to applying for a home loan. But what if your credit score is a 671 and you’re wondering what credit score improvement could mean to your final interest rate?  How do you start that process prior to applying for a loan? We can show you exactly what to do by running a “what if” simulator.  This simulator let’s us run several scenarios that tell you

  • Renovation Loan Programs

    Apr 21, 15 • Keg • Loan Programs1 CommentRead More »

    How to turn that Fixer Home into a GEM! Whether you are purchasing a home or refinancing, if you would like to finance to cost of home renovations into your loan, there are many programs to choose from.  Now the real estate market is HOT right now, so buckle up for some competition on those nice looking homes.  The days of multiple offers are back, especially on homes that are “turn key” ready.  So you may be able to shift your focus to the, somewhat, less desirable homes that may be languishing on the market for some time.  Now, before you write an offer on a property utilizing a renovation, you need to be very careful.  Make sure a conversation is had with the listing agent BEFORE writing that offer.  A renovation loan will take a longer escrow period than regular financing.  You will need to obtain bids from contractors and there are a lot more hurdles to jump over for this loan.  A 60 day escrow is recommended, but 45 days is not impossible. If you already own a home, this loan program can be utilized through a refinance transaction.  It is a very powerful program and gives you the ability to turn your home into your Dream Home! For more information, please contact me, Craig Sutliff, Real Estate Consultant & Mortgage Planner at The GreenHouse Group.  Cell:  619-857-4954. 

  • Asset Rich and Income Poor? You May Still Have Loan Options

    Mar 10, 15 • Fat Ashton • Loan ProgramsNo CommentsRead More »

    Asset rich and income poor? Well, don’t write off qualifying for a loan just yet, because you may still have some loan options. There are a couple programs out there that now cater to those who are a little bit more heavy handed on the asset side of things rather than the income side of things. One of these programs is an asset based program and the other is an equity based program. Like all other loans these two loans carry other determining factors, such as FICO scores and even age. However, if you are in that position where you have been loading your investments over the years and are on a limited income, it’s definitely worth taking a look at these loan options. So, if the above scenarios sound like that of your own, and you are intrested in seeing what loan options might be available to you. Pick up the phone and give me a call, or email me at; 858.863.0260 ext 114

  • Why Right Now Is Your Best Opportunity To Eliminate PMI

    Paying PMI (Private Mortgage Insurance) is kind of like watching the Super Bowl end in a tie.  Yeah, you got to hang with you friends on a Sunday, gorge yourself on all your favorite food for 6 hours, and drink more silver bullets in one day than you will all year, but at the end you have heart burn that makes you think about a trip to the ER, Monday morning you’re going to rehab, and nobody won the game. Thankfully, a Super Bowl tie will never happen but what may happen is you paying your PMI for years to come. Mortgage applications were up 49.1% for the first week of the new year. That is largest percentage increase since 2008.  Four factors contributed to the volume, rates back in the 3s, the FHA premium cut, home price appreciation allowing people to refinance who couldn’t, and people refinancing to remove PMI and MI.  Rates are as low right now as they have been since the spring of 2013 and this is why right now is your best opportunity to eliminate PMI.  Even going up slightly in rate to eliminate the PMI will save you both in the short term and long term. We may see rates swing a bit in the coming weeks depending on the news.  To find out exactly how you can eliminate your MI or PMI click my

  • Unknown Credit Issues

    Jan 27, 15 • Fat Ashton • How to Improve Your CreditNo CommentsRead More »

    Unknown Credit issues. More often than not we see items on people’s credit that they did not know where there. And as I’m sure you guessed it, any surprise on a credit report is an unwelcome one. The main down side to discovering an issue on your credit in this scenario, is that you are discovering it at the time you want to purchase or refinance. Most credit issues can be resolved with a little bit of work and communication, however out about them at the time you are trying to purchase or refinance may end up holding you back from your ultimate goal. So if you identify yourself in the category of people who are getting ready but not quite ready to buy or refinance, the “thinking about it” club, then I strongly suggest taking a look at your credit before you have your heart set on that new home or low interest rate, and if your reading this post, the next step is as simple as clicking my email below, and we can get you into a position where hen the time is right, you are truly ready to buy or refinance. No surprises.

  • FHA Rates Are About To Drop 0.5%?!

    Jan 20, 15 • J.Beckistan • FHA Loans, Loan Programs, Purchase Loan, RefinancingNo CommentsRead More »

    Amazing news about FHA loans.  FHA rates are about to drop 0.5% at the end of this month.  But it might not be in the way you’re thinking… What we’ere talking about is a drop in the associated FHA Mortgage Insurance.  This is currently 1.35% annually.  But on the 26th of this month, that rate will drop to .85%.  This means that new loans will be much less expensive on a monthly basis.  For example, on a $300,000 loan the new MI will save you $120/month.  That means you either have a monthly savings for the same home, or you could potentially afford more home. More good news is that you can take advantage of this if you are buying a home, or if you already have an FHA loan.  We offer a reduced documentation process that lets you refinance without an appraisal or even income qualification if you already have an FHA loan. To get a customized calculation on your potential savings, or to get pre-approved to buy a home with this new loan, simply click here to email me and get the help you want.   Jeremy Beck Mortgage Planner Rate Dropper (yes… like it’s hot…)

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

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