When you’re buying your first home, it’s important to find out how much you’ll be able to borrow from a lender. In the process of doing your research, you’ve come across two different and confusing terms, namely “mortgage bankers” and “mortgage brokers.” So how do they differ and more importantly, how can they help you […]
How 2020 is Impacting California Home Buying
What impact has 2020 had on our housing here in California? All in all, it looks like it may have had a positive impact. Despite all our current economic strangeness of the moment, historically low-interest rates seem to have propelled home buyers and homeowners alike to take advantage of rates that are extremely appealing right […]
What is Happening to Mortgage Rates in California as We Watch Unemployment Figures Rise?
We are living in crazy times. As we watch this week’s unemployment figures tack on another 3 million people filing this week alone and the Federal Reserve offering next-to-nothing interest rates for commercial lending and buying high-risk ETFs, you would think we are on the brink of a huge recession. And yet, when it comes […]
The Relationship Between the Federal Reserve and Mortgage Rates is Now Murkier than Usual
Anyone who had asked about mortgage interest rates’ relationship to the Fed rate would usually be told that the Federal Reserve rate had nothing to do with current mortgage rates. While that is technically true, the unprecedented moves by the Fed in the last few months have tied mortgage rates more inextricably to it. In […]
Mortgage Relief for California Families During COVID-19
Because of the recent situation with COVID-19, many homeowners are struggling with layoffs, social distancing and, consequently, an inability to pay their most basic bills, including their mortgage payments. For those who find themselves in this position, you may be covered under a forbearance program called the Cares Act. What Does the Cares Act Offer? […]
How Will the Federal Reserve Rate Cuts Affect Mortgage Rates in California?
We have seen that the Federal Reserve has made an emergency cut of its benchmark rate to nearly zero this past weekend. The Fed makes its decisions based on many factors, the most current is the economic impact of COVID-19. And although the fund’s rate is tied to mortgage rates indirectly, what we have seen […]
How Does a Mortgage Broker Save You Time and Money?
So, you’re ready to shop for a mortgage. But where do you start? Maybe your real estate salesperson has a recommendation. Maybe you’ve been approached by your bank. But how do you know what is right for YOU? Have You Considered a Mortgage Broker? You may want to consult with a mortgage broker. A mortgage […]
Finding the Best Mortgage for Your Individual Needs
Every borrower is different. That means that some mortgages may be ill-suited or simply not even qualifiable for some applicants while perfect for others. That makes finding the right mortgage confusing for many potential borrowers. Here is what you need to know. Lenders Hate Risk First and foremost, lenders hate risk. That means the better […]
What You Should Know Before Shopping for Your First Home in California
Ready to buy your first home? Before you hire a real estate agent, go through the online real estate sites and schedule open house visits, there are some things you should consider. It’s certainly not as much fun as the shopping but it’s probably more important. Make sure that you are ready to be approved […]
Why Work with a Mortgage Broker?
If you’re looking for mortgage financing, you may be tempted to use the bank where you have your checking account. Or you may be referred to someone by your Realtor. Not to say that those aren’t valuable places to shop for a mortgage, but you should do your homework first. Don’t Waste Your Money Mortgage […]
