Posts Tagged ‘refinance’

  • 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…)

  • 2015 Interest Rate Predictions – and then some

    Jan 6, 15 • J.Beckistan • Home Buyers, Mortgage Rates, Purchase Loan, RefinancingNo CommentsRead More »

    2015 Interest Rate Predictions are a funny thing.  As with any prediction the truth will come so far down the road that most of the talking heads will be on to a new subject by then.  The accuracy of their predictions long past.  However, predictions can be useful when it comes to planning, especially when there is really only one way to go… up. Although they are not tied together, the Fed has already declared it’s intention to raise interest rates back to “normal” by the time inflation is at 2% and unemployment reduces to acceptable levels.  Both of the indicators are moving in that direction and most of the predictions show rates rising in mid 2015.  Of course rates will go up, they are virtually as low as they can be.  So barring another recession, it seems that it’s an inevitable future.  See a Bloomberg article about it here. SO WHAT? Well, for the housing market it’s like this – on a $400k loan a rise in rates of just 0.5% = $118/mo in payment.  The more telling figure?  That’s $25k in purchase power. So that means if interest rates rise but incomes are the same 1 – The same buyer can afford 25k less in purchase price 2 – That means it’s likely that the same house can sell for 25k less Pardon me, but there is a Giant

  • The Most Important Mortgage Planning Question

    Nov 4, 14 • J.Beckistan • UncategorizedNo CommentsRead More »

    Ok, obviously you want to get the best rate, lowest costs, and right loan term on your new loan.  But are most loan hacks forgetting to ask the most important most important mortgage planning question?  If your goal is to save money, then the question you need to ask yourself is – How long will you have the loan? It seems simple right?  But when I meet with folks they often tell me that the most important thing to them is to get the lowest rate possible.  Well of course that’s a great thing, but is it always?  The truth is that the lowest rate possible could actually cost you more money than a higher rate.  It’s true!  This is true in a number of diffent aspects of your loan – The cost or credit of a given rate The term of the loan Mortgage Insurance Let’s look at a quick example just on the last one here, Mortgage Insurance.  We have loan programs that we offer No MI even with less than 20% down.  Great, right?  Yes, in some cases… In some not so much.  On a $250k loan, with 10% down a loan WITH MI with have a higher initial monthly payment, but a lower interest rate.  So which one is better?  Well for the first handful of years the No MI structure wins due to the low initial payments.  However,

  • Divorce Loans – Help when you need it most

    May 20, 14 • J.Beckistan • Refinancing, Types of MortgagesNo CommentsRead More »

    We all know how important a home is to a family.  It’s a place where memories are created and a sanctuary for growth and safety.  Along with many other things, a divorce can disrupt this feeling by forcing a sale of the home.  For most families, their home is their largest asset, and therefor is typically needed to be split during a divorce.  Well, now there’s a new loan product that can help those in this situation – Divorce Loans.  Ok, they’re not really called Divorce Loans, but you get the idea… The benefit is that you can more easily pull out equity from the property to help divide the assets of the family.  This is done by loosening the parameters and requirements under which the loan is given.  Normally when you pull cash out of a home it falls into the “Cash Out” Category, limiting your loan amount, increasing your rate, and restricting your borrowing power.  These new loans can now avoid some of those restrictions and improve your chances of keeping the home. I sincerely hope that you don’t find yourself in this situation.  But if you do, we’re here to help.  To learn more about how this program works and if it’s right for you Click Here, and in the subject write “Info about the Divorce Loan”.  I’ll send you more details about what you need to

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

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