Posts Tagged ‘Jeremy Beck’

  • Some Counties Will Get Increased Loan Limits for 2016 – But Which Ones?

    Dec 7, 15 • J.Beckistan • Loan Programs, Purchase Loan, RefinancingNo CommentsRead More »

    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

  • What is Hazard Insurance and How Much Do I Need?

    Oct 26, 15 • J.Beckistan • Home Buyers, RefinancingNo CommentsRead More »

    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

  • You’re Not Ready – OK, Then Let’s Find The Path

    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

  • Jesses Secret Stash: Episode 42 | Jeremy Beck

    Oct 1, 15 • Burrito • Jesse's Secret Stash Radio ShowNo CommentsRead More »

    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!

  • A DPA Has Gone Away – But it’s OK!

    Sep 28, 15 • J.Beckistan • Home Buyers, Loan Programs, Purchase LoanNo CommentsRead More »

    One of the most popular Down Payment Assistance Programs, the Cal HFA DPA, is gone.  This last week they announced that they are no longer providing those funds to home buyers.  While they certainly weren’t only game in town they may have been most popular.  Many lenders used this program for years and were very familiar with it. Last week I got 2 calls from folks saying that they had been pre-approved with this program and now didn’t know what to do.  Well the good news is that there are other options.  Depending on your situation you may qualify for Grants, Loans, Silent 2nds…  There’s a ton of stuff out there, the trick is finding the right one for you. So if you, or someone you know, was hoping to use a Down Payment Assistance Program to buy your home it’s time to revisit that.  Let us help you by using our resources to sift through the programs that are available, and put the right plan together.  Simply shoot me an email by clicking here or call so we get you back on the path toward owning your own home. Jeremy Beck Mortgage Planner Blog Title Rhymer  858-863-0262  

  • A Loan for All Cash Buyers?

    Aug 17, 15 • J.Beckistan • Home BuyersNo CommentsRead More »

    Many folks would love to be “That Guy” (or gal) that roles up on a property and beats out all other offers because the buy it with all cash.  Now some people just have the cash, and that’s great.  This applies to you.  But what if you might be able to borrower from yourself, like an investment or other source of funds, but can’t part with it indefinitely.  Well this is great news for you too!  A Loan For All Cash Buyers. What you might not know is that most lenders will not refinance you within the first 6mos of acquiring a property if you want to get cash out.  Obviously that’s a serious obstacle for those who want to use resources to buy a property cash, but not have them tied up for 1/2 a year. We have a solution!  We have a loan that allows for cash investors to nearly immediately begin a refinance process after buying their home with cash.  This loan allows you to get your cash back out of the property.  Of course, some parameters apply like LTV and normal qualification restrictions.  But this is a great program that allows you to buy with cash, but not live without it! To learn more about this program click here and send me an email.  I’ll send you hand little cheat sheet about what you need to

  • New Loan Rule Makes Buying Your Next Home Easier

    When you own a home, it can sometimes feel difficult to figure out how to buy your next home.  The most common challenge is that you already own a home with a loan, and you have to payoff that other loan BEFORE you buy that next home.  What most people do is something called a Purchase Contingent on the Sale of your Current Home.  That’s actually a great way to do it.  Although it has some challenges. Specifically, what happens if your home doesn’t sell right away?  Is it hard to time finding a seller and a buyer at the same time?  What happens if the appraisal on your home comes in low?  Will a seller choose your offer over others that don’t have to sell in order to buy? These are just some of the many potential challenges of a contingent purchase.  But the good news is that a new loan rule makes buying your next home easier.  The trick is in how you qualify for that next home.  Our new loan programs allow you qualify to keep your current home while buying your next home.  Removing all the obstacles that we discussed above. To learn more about this new rule and if it could help you more easily buy your next home, click here to email me.  We’ll have a quick call to see if this program can help

  • The other No Down Payment Loan

    Most people are familiar with the idea that a veteran can borrow to buy a home with no money down.  That’s amazing, but only if you’re a veteran right?  Did you know that there are other ways to buy a home in San Diego with Zero Down? One of the more underutilized programs focuses on helping folks buy in Rural Areas.  This program is backed by the government.  We say this because it’s not a loan FROM the government, but rather guaranteed by the government.  In this way, you get a regular loan without having to work with the government directly (whew!). So what’s the catch…  well, there are some qualification requirements.  Two qualifiers are income and where the property is located.  The properties are designated by their address and what is considered to be Rural.   The income qualifications limit how much you make based on how many people live in the home – just like some other First Time Home Buyer Programs. If you’d like to learn more about this program, the income limits, or the areas covered click here to send me an email.  I’ll send you some charts that will help us determine if this program is right for you. Jeremy Beck Mortgage Planner Zero Down?  Let me count the ways

  • Greece Lightening – and How To Avoid The Backlash

    Jun 29, 15 • J.Beckistan • Home Buyers, Mortgage Rates, Purchase Loan, RefinancingNo CommentsRead More »

    With the debt crisis in Greece continuing, you might wonder how that will effect us here in the US.  Well in terms of Mortgage Rates it’s had quite an effect.  Simply put, the uncertainty of the outcomes cause folks to guess which way things will go.  When people guess with their investments it tends to cause volatility.  That’s exactly what we’re seeing here in our mortgage rate environment. The insecurities abroad tend to cause investors to look for “safer” investments.  US bonds / treasuries are considered very safe.  So we’re seeing a lot of money poor into those bonds.  When there is high demand for US bonds, it increases their price which actually reduces the interest yield on them.  This interest yield is what we see translated to our mortgage rates. As a mortgage planner, what I see are folks trying to predict this change – Waiting on the sideline in the hopes that rates will come down.  That could be a viable strategy that will earn them some savings.  But the problem is this volatility.  As fast as rates go down, they seem to go up twice.  So that if you were “waiting”, you could potentially miss the dip.  We’re calling this Greece Lightening – and How To Avoid the Backlash. Experts say that a better strategy is to get ready so that you can act quickly.  Get you ducks in

  • VA Loans – What Most Realtors Don’t Know

    Jun 22, 15 • J.Beckistan • VA LoansNo CommentsRead More »
    VA Loans – What Most Realtors Don’t Know

    VA Loans – What Most Realtors Don’t Know are the tricks we get to use with VA loans.  The loan environment is constantly changing.  Because of that, sometimes Lenders don’t know the newest Real Estate stuff, and RE Agents aren’t up to date with loan stuff.  So it’s not surprising that I sometimes hear agents being worried that VA loans are somehow a disadvantage in the buying process. I have 5 reason that a VA loan is superior to nearly every other loan out there.  But I’ll just highlight one of my favorites here. LTV Flexibility What the heck does that mean?  Well, when an appraisal is made on a property, the lower of the appraised value and the sales price becomes the 100% value mark for the lender. For example, if the purchase price is 400k, but the appraisal only comes in at 375k – what happens? 4 things can happen 1- The seller sells it for 375k 2- The buyer buys it for 400k 3- They split the difference – $387,500 4- Everyone walks away For #s 2 & 3 – there is a loan implication.  With a regular loan, if you planned n coming in with 10% down, then your loan amount was originally $360k.  But now your max lona amount with 10% down (based on $375k) is $337,500.  The buyer needs to bring in the rest

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