Archive for 'Refinance'

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 ...

Continue Reading →

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 ...

Continue Reading →

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 ...

Continue Reading →

Three Reasons to Refinance Now

If you are on the fence about refinancing, below are three good reasons you should consider:

Home Values:
Median values in California have increased rapidly this past year. The median home price of a Southern California home in May of 2012 was $280,000 but by May of 2013 it had increased to $368,000, a jump of 24%. Over the past year, about 2 million homeowners ...

Continue Reading →

Credit Inquiries and FICO Scores

Can credit inquiries hurt FICO scores? The short answer is yes. Racking up large numbers of inquiries can lower your score. The FICO models consider them significant because extensive behavioral research has shown that consumers who are seeking new credit accounts are riskier and more prone to defaults. Statistically, people with six or more inquiries on their credit reports can be up to eight ...

Continue Reading →
Page 2 of 3 123