As of December 1st, 2020, the FHFA (Federal Housing Financing Agency made certain refinancing loans subject to what is known as the Adverse Market Refinance Fee. This newly created fee could impact refinancing costs for some homeowners. As it currently stands, the fee will apply to conforming conventional mortgages with balances over $125k. A conforming […]
Home Buying Tips for 2021
It’s safe to say that the home buying landscape in 2021 won’t look anything like it did in normal times over the past few years. First of all, we’re still dealing with the COVID-19 pandemic. So, instead of open houses throughout numerous Stockton neighborhoods, you’ll need to search home listings online and watch virtual home […]
Is Your Personal Information Safe When You Apply For A Mortgage?
People are often overwhelmed by the amount of paperwork involved when applying for a home mortgage. Even more disconcerting is the fact that you have to provide that lender with your bank account, Social Security number, tax documents, and other highly sensitive personal information. Obviously, this isn’t the kind of information that you want just […]
What’s the Difference Between A Mortgage Banker Or Direct Lender And A Mortgage Broker?
The mortgage industry is comprised of companies and individuals that assist people in getting home loans, namely mortgage bankers or direct lenders and mortgage brokers. Although they both provide the financing that prospective home buyers need, they are quite different. The direct lender or mortgage banker is a bank, credit union, or financial institution that […]
5 Ways to Tell If You’re Ready for Home Ownership
Owning a home is not just something to take pride in, it’s the biggest investment you’ll make in your lifetime. So, how do you know if you’re ready for this? While there are several benefits to owning a home, this is a huge financial responsibility. Benefits of Buying a Home in California Still not sure […]
What Does 2021 Hold for California Housing?
Here in California, it’s been a strange and bumpy few months in housing. At the beginning of the year, we were churning along with a lot of activity and rising home prices, looking like our housing momentum was continuing. Then came COVID-19 and our state locked down, throwing housing into a bit of a limbo […]
Rates Hit a New Low! Is Now the Best Time to Get a Mortgage?
30-year fixed rates fell to historic lows last week. But will that continue in this crazy marketplace? Last week, Freddie Mac announced their historic rate drop which brought 30-year fixed rates to an all-time low of 2.98%. This is the lowest ever recorded in their history. But we have seen consumer mortgage rates do some […]
Are People Still Buying Homes During COVID-19? The Answer May Surprise You
It’s summer and in a normal year, that means movement. Parents typically wait until summer to buy new homes and move because they don’t want to displace their children during the school year. But like everything in our lives right now, has COVID-19 had an impact on new home purchases? Surprisingly, it appears that home […]
Should You Refinance Your Home Right Now?
Are you looking to reduce your monthly payment? perhaps reduce your mortgage term from a 30-year mortgage to a 15-year mortgage? Are you looking to take advantage of your home equity and receive cash out to complete home improvements or pay off debt? These choices would depend upon your Life goals current budget, and financial […]
Stockton Mortgage Company Shares Tips If You Can’t Make Your Mortgage Payment
Today we are seeing so many of our clients being impacted and the economic implications of sheltering-at-home, furloughs and lay-offs. But help is available for those who need it. What is Mortgage Forbearance? If you are having difficulty making your mortgage payment during this difficult time, you may want to consider mortgage forbearance. This is […]