mortgage loans in sacramento

Why Don’t I Have the Best Rate?

Why Don't I Have the Best Rate?

Why don’t I have the best rate? An amazing blog below from our team preferred lender, Dan Tharp. Enjoy, a very good read. — JaCi Wallace

Without fail, the number one question I get from first-time callers looking to refinance or purchase a new home is “what’s your rate?” I used to stumble a bit when asked this question because there is so much involved in getting an accurate interest rate and one that I can’t answer in a 30-second conversation. I wish it were that easy. read more

Why Don’t I Have the Best Rate?

A New Tax On Mortgage Refinance

A New Tax On Mortgage Refinance

A new tax on mortgage refinance is a brilliant blog written by our fabulous lender, Dan Tharp, with Guild Mortgage. –Enjoy, JaCi Wallace. Dan has some good news and some bad news. Here’s the bad news first.

Last week, the Federal Housing Finance Agency (FHFA) announced a surprise fee on all new refinance transactions sold to Fannie Mae and Freddie Mac. This is making up approximately two-thirds of all loans. The cost was assessed regardless of the bank or mortgage company you choose to work with . End result, it will increase the interest rate that you had been expecting and had been available.   read more

A New Tax On Mortgage Refinance

One Of The Leading Causes Of Divorce Can Be Financial

One Of The Leading Causes Of Divorce Can Be Financial

One of the leading causes of divorce can be financial — is an interesting blog topic from our preferred mortgage lender, Dan Tharp at Guild Mortgage. — JaCi Wallace

One of the leading causes of divorce can be financial. When a couples’ financial situation fails to measure up to expectations, and money stress gets so bad, they shut down. The communication between them often stops completely.

I have helped many couples obtain a mortgage to buy a home. They were laughing and smiling about the garden they were going to plant, or the BBQ they were going to invite me to. Only then to see one partner lose a job, then bills pile up. Next is the anger and the uncertainty starts to build. The next thing they know they are sitting down to talk about separating. It’s just plain awful. read more

One Of The Leading Causes Of Divorce Can Be Financial

Are Mortgage Rates Going Up or Down?

Are Mortgage Rates Going Up or Down?

Are mortgage rates going up or down? As a mortgage professional for almost two decades, we have been through many wild rides, but nothing compared to what we are experiencing right now with this coronavirus; or what we are calling our alternative universe. Just over two weeks ago, the fear of COVID-19 sent stocks tumbling, and mortgage rates lower – according to Mortgage News Daily, the average rate for the popular 30-year fixed mortgage fell to 3.23%, an 8-year low.

Rates had been dropping for weeks as “breaking news” seemed to ping our phones by the minute, and fear began to manifest in real-time, as we watched the stock market cradle. In times of economic uncertainty, mortgage rates are typically the beneficiary of bad news, and rates go down as dollars move from the risky stock market and into the “usually” safe haven of mortgage-backed securities (aka mortgage debt) – and rates go lower. Question is, are mortgage rates going up or down? read more

Are Mortgage Rates Going Up or Down?

Does Leasing a Car Affect a Buyer’s Ability to Buy a Home?

Does Leasing A Car Affect A Buyer's Ability To Buy A Home?

Does leasing a car affect a buyer’s ability to buy a home? As a mortgage professional for almost 20 years, I know just about every gotcha that can cause an underwriter to deny your loan. We look at a borrower’s monthly minimum obligations paid on debts. We take those minimum payments, including your proposed total mortgage payment (principal, interest, taxes, insurance, and private mortgage insurance). Then we divide this by your gross income. This debt-to-income ratio is the barometer we use to determine your ability to repay the mortgage. read more

Does Leasing a Car Affect a Buyer’s Ability to Buy a Home?
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