HOWTO: Avoid the Mortgage Rate Bait-and-Switch
It’s easier than you think! After you’re done watching the below, check this out to ensure that you understand the numbers you are reading, and what they really mean. Still have questions? Let’s...
Appraisal Risk Management 101
In this video, we go over the most basic way to manage the risks of an appraisal shortfall, also known as an appraisal “gap.” Risk management is important, and that’s what this is about! For more detailed and advanced strategies, please see the link...
Should you pull cash out of your California home before rates rise?
The most common reasons that homeowners pull cash out when they refinance are: Consolidate Debt. Mortgage rates are lower than most other types of rates, and with the payment spread over 30 years, it’s more comfortable. Home Renovations. Some people use credit...
Hot Market Appraisal Strategies for California
Word is out, the real estate market is smoking hot right now. This often leads to concern about appraisal issues. What if the appraisal comes in low? Do I really need to “make up the full difference” with cash? What if I don’t have an appraisal...
High Assets | No Job | Normal Mortgage: “I can afford the house outright. Why does the mortgage loan officer or bank care about W-2 income?”
This is an excellent question, and like many things when it comes to applying for a mortgage, it ties back to the events of 2008. In the fallout of that event, numerous things happened, including the passage of the Dodd-Frank Wall Street Reform and Consumer Protection...
Chris Mason, Loan Officer
