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Another Opportunity to Refinance

Just a quick update… This past week has been very unusual for mortgage rates – Mortgage rates defied odds and edged down to the lowest point in seven months, even as some economic reports show that the U.S. economy is growing. Who knew.

For those of you who may have missed the opportunity to refinance last year, this is a good a time get your paperwork in order and lock in ...

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Fresh Approaches to Private Residential Real Estate Lending

We are beginning to see paradigm shifts in housing finance. A few new companies are bringing fresh approaches to private residential real estate lending and the programs are geared to those who have less than 20% down payment. Below are two variations of the equity sharing programs and a third option called “Intra Family Lending” where family members are becoming mini-lenders (not the same as gifting funds). All three are ...

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Shopping For a Mortgage? Ask…

You have many choices when applying for a home loan. Some lenders have begun advertising that they offer substantial credits to their customers — some in the $2,000 to $5,000 range. This is nothing new as we have been providing credits for closing costs since inception. To illustrate, we recently closed a customer’s $417,000, 30 year- fixed rate mortgage @ 4.25% and we credited the borrower over $8000 to offset ...

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Refinancing Still an Option for Some

If you have been unable to refinance during the past 5 years due to a lack of equity, you may be able to do so now due to increases in home values over the past several years. Home prices in California rose in the past 12 months through August by the most in more than seven years helping boost owner equity.

Recently we refinanced several of our clients who, in the ...

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CA Housing Market Overheating?

Southern California home prices increased more than 28% compared to a year ago this time. The dramatic 28% plus jump was greater than any year-over-year increase during the housing boom and the most since January 1989. California’s median home price reached $400,000…$119,000 more than a year earlier, the highest dollar amount in more than five years. There are signs the fast pace of rising home prices won’t continue as mortgage ...

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