ABLEnding 2

Layton

admin — Sat, 13 Apr 2013 05:26:06 +0000

Layton Branch:

579 West Heritage Park Boulevard, Suite 120

Layton, UT 84041

Main Line:

Branch Manager: Jeffery Scott Porter

jporter@amerifirst.us

Direct Line: 801-508-6403

Cottonwood Heights

admin — Sat, 13 Apr 2013 05:25:25 +0000

Cottonwood Heights Branch:

6955 Union Park Center, Suite 140

Cottonwood Heights, UT 84047

Main Line: 801-823-3355

Branch Manager: Doulgas Walker

dwalker@amerifirst.us

Direct Line: 801-508-6414

Cedar Park

admin — Sat, 13 Apr 2013 05:24:40 +0000

Austin Branch:

13809 Reasearch Blvd Suite 806

Austin, TX 78750

Main Line:

Branch Manager: Dan Adams

dadams@amerifirst.us

Direct Line: 512-789-6190

Marble Falls

admin — Sat, 13 Apr 2013 05:24:00 +0000

Marble Falls Branch:2209 9th Street

Marble Falls, TX 78654

Main Line: 512-605-2500

Branch Manager: Robert Ellis

rellis@amerifirst.us

Direct Line: 512-605-2506

Plano Branch

admin — Sat, 13 Apr 2013 05:22:44 +0000

Plano Branch:5000 Legacy Drive, Suite 160

Plano Texas, TX 75024

Main Line: 469-277-4477

Branch Manager: Scotty Gibson

sgibson@amerifirst.us

Direct Line: 469-277-4460 Cedar Park Branch: 200 S. Bell Blvd, Suite F-6

Cedar Park, TX 78613

Main Line:

Branch Manager: Dan Adams

dadams@amerifirst.us

Direct Line: 512-789-6190

Boise Branch

admin — Sat, 13 Apr 2013 05:21:49 +0000

Boise Branch:

7699 West Riverside Drive

Boise, ID 83714

Main Line: 208-418-0001

Branch Manager: James Dildine

jdildine@amerifirst.us

Direct Line: 208-703-9696

Colorado Springs Branch

admin — Sat, 13 Apr 2013 05:21:10 +0000

Colorado Springs Branch:

12295 Oracle Boulevard, Suite 330

Colorado Springs, CO 80921

Main Line: 719-228-6055

Branch Manager: Ryan Herbig

rherbig@amerifirst.us

Direct Line: 719-659-0043

Front Desk: Lynda Herbig

lherbig@amerifirst.us

Riverside

admin — Sat, 13 Apr 2013 05:20:26 +0000

Riverside Branch:

6759 Brockton Avenue

Riverside, CA 92506

Main Line: 909-641-0527

Branch Manager: Joseph Wiggins

jwiggins@amerifirst.us

Direct Line: 951-330-5626

Pasadena Branch

admin — Sat, 13 Apr 2013 05:19:53 +0000

Pasadena Branch:

418 North Fair Oaks Avenue, Suite 202

Pasadena, CA 91103

Main Line: 626-219-8130

Branch Manager: Nicholas Gottuso

ngottuso@amerifirst.us

Direct Line: 626-219-8123

La Jolla

admin — Sat, 13 Apr 2013 05:18:51 +0000

La Jolla Branch:

4660 La Jolla Village Drive, Suite 600

San Diego, CA 92122

Main Line: 858-764-7801

Branch Manager: Nick Dawson

ndawson@amerifirst.us

Direct Line: 858-764-7801

Retire to Happiness: Tips to Thrive in the Next Chapter of Life

Shoreline Financial Services of Arizona LLC — Mon, 03 Oct 2016 21:28:27 +0000

Here’s a thought: retirement doesn’t mean the end. It doesn’t mean an end of self-importance or purpose, it just means a new chapter—a paradigm shift of what life is beyond long days and meetings and bosses. Unless you own your own business, and even then, you are not your business.

Saving for Retirement

Shoreline Financial Services of Arizona LLC — Sat, 06 Aug 2016 05:35:00 +0000

Saving for retirement is often looked upon as a burden, but once you reach the age of retirement it quickly becomes a blessing. Looking for ways to keep your lifestyle in retirement can be difficult to navigate. Pension and compensation packages offered by companies that gave a percentage of the employee's salary is something that people used to be able to count on.

How to Purchase the Right Amount of Life Insurance

Shoreline Financial Services of Arizona LLC — Thu, 04 Aug 2016 21:45:26 +0000

Anyone with a family to protect understands the critical role life insurance plays in their financial plan However, in determining the actual amount of coverage to provide essential protection needs, many people tend to adhere to simplistic rules-of-thumb, such as a “multiple of income,” which may leave them wondering if they own too much or too little coverage.

Are You Nominally or Really on Track to Your Retirement Goals?

Shoreline Financial Services of Arizona LLC — Thu, 28 Jul 2016 23:09:27 +0000

Amidst the more obvious lingering effects of a sluggish economy, such as slow job growth, decreasing incomes, low interest rates and shaky consumer confidence, there lurks a more insidious threat which, thus far, has largely been ignored.

With Stocks Still Near Their Highs What Should Retirees Do Now?

Shoreline Financial Services of Arizona LLC — Tue, 19 Jul 2016 19:34:11 +0000

Although the stock prices are trading near their all-time highs, it hasn’t exactly been a joy ride for retirees who are counting on their retirement plans for a lifetime of income. The type of unruly market action that we have seen over the last few months always unleashes a flurry of “expert” commentary that seems to be directed at those who are most vulnerable to flash

Newsletter Sign Up Success

fourpeakswealth — Sat, 02 Sep 2017 18:41:46 +0000

Thank you for signing up for our Four Peaks Wealth and Accounting news. We look forward to sharing information with you that can help shape your successful financial future. No email overload – we promise!

Ruthie Lee, EA

fourpeakswealth — Fri, 01 Sep 2017 01:50:16 +0000

Ruthie was the manager of an auto repair shop for fifteen years before joining Four Peaks Wealth and Accounting’s predecessor firm. There, she was responsible for all facets of business; hiring, firing, accounts receivables and payables, inventory management, bookkeeping, workflow and scheduling, plus all tax and governmental filings. She has also managed her husband’s small business for the last twelve years. Ruthie also serves a handful of tax clients owning small businesses. She graduated with an Associate’s Degree in Business, with a Certificate in Accounting, from Yavapai College. She is also an Enrolled Agent with the IRS and expects to receive her QuickBooks Pro Advisor Certification by year end.

Ruthie has been married to her husband, James, for thirteen years and has two boys, Anthony and Preston. Their primary hobby is cars; working on and fixing them, as well as watching them race. Most family time spent together is either outdoors at the creek or the lake. Their family owns two min-pin/Chihuahua dogs.

Patrick McGee

fourpeakswealth — Fri, 01 Sep 2017 01:49:30 +0000

Patrick joined Four Peaks Wealth and Accounting as a tax accountant, looking to broaden his experience in tax preparation. Prior to that he was the sole proprietor of a Florida-based registered CPA firm. For eight years he specialized in small business tax returns for a wide variety of businesses. He also prepared individual tax returns during this period. Patrick believes that the service provided to a client is a moral issue, not a mere obligation based on the exchange of time and money. While working as a CPA he attained his Master’s in Taxation degree at Florida Atlantic University in Boca Raton, Florida. Earlier, after serving time in the US Navy, he earned his BA degree in Management and Economics from Trinity International University located in Deerfield, Illinois and then his Master’s in Accounting degree at Florida International University in Miami, Florida. Soon after that he received the approval from the Florida Board of Accounting to be licensed as a CPA in the State of Florida. Patrick will soon also be registered in the State of Arizona as a CPA. He has also worked at publicly traded and closely held companies as a private accountant.

During his off-time Patrick is an avid powerlifter and competes at least once a year. He also enjoys taking part in his local community.

Kirsten Mead

fourpeakswealth — Fri, 01 Sep 2017 01:48:32 +0000

Kirsten joined the Four Peaks Wealth and Accounting team as the Workflow Coordinator. She is a native of Flagstaff, Arizona and considers Sedona as one of her favorite places on earth. Kirsten holds a B.S. in Criminal Justice from Northern Arizona University.

After working in the criminal justice field for several years, followed by billing and collections for a large physician practice, Kirsten ran a successful craft store in Flagstaff. During her nine years as a business owner she was a recipient of the 2007 Small Business Development Center Success Award. After running her own business, Kirsten went on to work at Northern Arizona University, where she was the Administrative and Financial Manager of the Alliance Bank Business Outreach Center. She also planned three successful Economic Outlook Conferences, which drew business leaders from throughout northern Arizona.

Kirsten enjoys spending time with her family, adores her menagerie of animals, and loves hiking, paddle-boarding, and chasing sunsets.

Kevra Barney

fourpeakswealth — Fri, 01 Sep 2017 01:47:32 +0000

Kevra joined Four Peaks Wealth and Accounting as a tax preparer in 2017. She was raised in the Phoenix Metro area and started out in Flagstaff as a student. Kevra attended Northern Arizona University and received a Bachelor of Science in Accountancy, with a minor in mathematics as well as a Masters of Business Administration. While attending school, Kevra gained professional accounting experience working in the university’s billing department, at an HOA management company office, and within a governmental and nonprofit auditing firm.

Kevra enjoys working at FPWA because it allows her to positively influence the Northern Arizona community by helping others via tax advice and preparation. She is currently studying for the CPA exam, which will allow her to provide clients with even more knowledge and tax expertise.

In her free time, Kevra enjoys traveling with her husband, cooking and baking, spending time outdoors, and being with family. She also spends time volunteering within her church community.

Barbara Benson

fourpeakswealth — Fri, 01 Sep 2017 01:46:40 +0000

Barbara started her own accounting practice in 1974, in Rockford, IL. She sold that practice fifteen years later and moved to Sedona in 1989. There, she started another firm, Village Accounting, which was sold to Four Peaks Wealth and Accounting’s predecessor in 2015. She is an enrolled agent with the IRS and particularly enjoys tax work.

Barb has a husband, Thomas, and two sons, Skip and Matt. Her hobbies include quilting, reading and traveling in the family motorhome.

Jill Adams

fourpeakswealth — Fri, 01 Sep 2017 01:45:53 +0000

Jill Adams’ career started in health care and encompassed oversight of patient care, accounting, marketing, human resources, advertising, administration, and turn-around services. She has an expertise in home health, sub-acute care, nursing homes, assisted living centers, and adult day health centers.

Jill visited Sedona in September of 2015, fell in love with the red rocks, and relocated with her children to Sedona in April of 2016. She joined Four Peaks Wealth and Accounting as the office administrator, bringing the customer service skills she honed while overseeing the care of the elderly and disabled. Jill enjoys assisting clients with problem resolution with the IRS, and is studying to become an Enrolled Agent. She also assists clients in obtaining EINs for new businesses, and transitioning their businesses to S-Corporations.

Jill enjoys hiking, exploring the Sedona area with her family and friends, and researching whatever strikes her fancy.

Dorothy (“Dottie”) Reinert, CPA

fourpeakswealth — Fri, 01 Sep 2017 01:40:46 +0000

Dottie is a Certified Public Accountant (CPA). After graduating from College in NH she worked as an accountant in various companies, achieving the title of Accounting Manager for a manufacturing firm. She also worked for small CPA firms, as a tax preparer, accountant and auditor. Dorothy started her own CPA practice in 1990, preparing tax returns, as well as auditing, reviewing and compiling financial statements, mostly for for nonprofit and small businesses. After selling her practice in New Hampshire, she and her husband moved to Arizona to enjoy a warmer climate. Dorothy enjoys working with Four Peaks Wealth and Accounting and looks forward to the expanded service offering.

In her free time, she enjoys Zumba classes, reading and hiking with her husband Eric.

Climbing the “Wall of Worry”

fourpeakswealth — Tue, 19 Sep 2017 12:23:06 +0000

Roseanne Roseannadanna, a recurring character on Saturday Night Live was fond of saying: “If it ain’t one thing, it’s another.” That couldn’t be truer about investing.

Investopedia defines a “wall of worry” as the financial markets’ periodic tendency to surmount a host of negative factors and keep ascending. While the “wall” may sometimes consist of a single financial, geopolitical, or natural event, it more commonly is built with concerns on numerous fronts.

In no particular order of crises, I offer the following examples of negative factors.

Financial Contagions

The global Great Depression, preceded by the stock market crash of 1929, is a distant example of the effects of contagion on an integrated global economy. There are many modern examples, too. In 1997, it was the Asian financial crisis, triggered by the collapse of the Thai Baht. That crisis eventually made its way to Russia and Brazil. In 2015, it was China who devalued their currency, leading to a loss of five trillion dollars in global stock market value.

Financial contagion also happens at the domestic level, usually due to the failure of a bank or other financial intermediary. The crisis of 2007–2008 is thought of as the most severe since the 1930 Great Depression. By March of 2008, the investment banking firm Bear Stearns had failed and was being rescued by the U.S. government. That in turn triggered the largest U.S. Chapter 11 filing ever by Lehman Brothers, and the government rescue of American International Group (AIG).

Geopolitical Events

We don’t need to go back even a year to collect a meaningful list of geopolitical crises. In reverse order, North Korea’s recent firing of a ballistic missile over Japan put markets on edge. Threatening to take out Guam, not to mention major American cities, Pyongyang’s erratic leader continues to rattle global markets. Late spring/early summer saw yet another series of terrorist attacks in France and Great Britain. And in April, the U.S. military attacked a military base in Syria, leading many to assume a full-fledged attack would follow.

Natural Disasters

As I write this article, cleanup is just beginning for Hurricane Irma. While it is too early to know its exact cost, it’s fair to question the market impact given its path of destruction. This is right on the heels of Hurricane Harvey, which looks to be the costliest natural disaster in the history of the U.S.

With road, infrastructure and building damage typical after disasters, local businesses can be shut down for some time. Every year we face new disasters that test our resilience.

Time is the Best Way to Capitalize on the Stock Market’s Gains

Putnam Investments conducted a 15-year study from 2001 through 2016. In it they found that missing the 10 best days of stock market returns reduced the return of the Dow Jones Industrial’s Average from 7.28% to 2.60%, cutting an investor’s total dollar return by almost half. By trying to predict the best time to buy and sell, an investor also risks missing the market’s biggest gains. It turns out that the best way to capitalize on market strength over time is simply staying in the market and doing nothing. Major political and economic events that seem to erupt almost routinely are opportunities to review plans, challenge outlooks, and re-confirm goals and strategies, but they are not selling opportunities. Quite the contrary, as Warren Buffet is known to profess: “You have to be greedy when others are fearful.”

It turns out that the best way to capitalize on market strength over time is simply staying in the market and doing nothing.

Ron Getto, Four Peaks Wealth and Accounting Chief Financial Officer

Climbing the “Wall of Worry”

While it’s true with investing that “If it ain’t one thing, it’s another,” just remember to not let those “things” distract you from your long-term financial plan.

The markets’ ability to climb this wall of worry reflects investor confidence that these issues will be resolved at some point, yet another great reason to “stay the course” in the face of bad news.

FPWM Newsletter | Quarter 3, 2017

fourpeakswealth — Wed, 11 Oct 2017 10:23:46 +0000

In this edition…

Review of Q3 Performance

Historically, fall has been a particularly unkind season to investors… Should our outlook prove too optimistic, our most conservative portfolios are protected with a mix of safer assets.

Happy Birthday to Us

We are happy to report to you that we’ve beaten the odds and made it to the five-year mark as of October 4th. During this time, we have been fortunate enough to work with over 250 clients, who have trusted us with their and their employee’s savings. We have also established a solid track record of investment performance over these years across four distinct portfolios.

Quarterly Media

Climbing the “Wall of Worry”

The FPWM Team

We are pleased to announce that Lisa Short joined the FPWM team this past quarter as our office manager, replacing Penelope Scott.

Download the Q3 2017 Newsletter HERE.

Mortgage Rates Fall on Coronavirus Fears

Jeremy House — Tue, 25 Feb 2020 08:17:09 +0000

Mortgage rates change based on factors that logically impact financial markets. However, it’s also common for something as disconnected to mortgages as the Coronavirus to move rates too.

2020 is thus far a winning streak for mortgage rates. However, something obscure now adds more downward pressure on home loan rates making for a historically low rate environment. Much like the Soy Bean impact on rates we covered a while back, this too is a rate dropping force many didn’t see coming.

Learn how to help the Coronavirus crisis

The Coronavirus has not only spread into more regions across the globe, it has crept into the realm of international finance. Despite how unlikely it first appears, the virus is directing traffic on Wall Street in a significant way.

Coronavirus & Wall Street

The economy of today is undoubtedly a globally tethered one. Due to the interweaving dependent connections of complex economies across the globe – what impacts one usually somehow impacts them all.

The spread of the virus into Italy now makes this a European issue and possibly a global issue that could upset the supply chain for months or years to come
Kevin Giddis, CFIS Raymond James

The rapidly spreading Coronavirus has given birth to contagious health concerns in many cities. So much so that meaningful portions of the global supply chain have literally shut down. For example:

4 of the worlds top 12 economies scrambling to contain virus
South Korea shut down public buildings, schools & sports events in the industrial area of the Country

Learn how to help the Coronovirus crisis

Global Scares & US Mortgage Rates

To understand the Cornoavirus’ impact on our home loan rates, first consider how Countries rely on each other. For example, South Korea provides many other nations with cars, machinery and electronic goods. In addition both Japan and China play major roles in the supply chain for many different industries around the world.

Next, consider that investing in stock is analogous to betting a company or on the broader scope that an economy will grow. When investors sense risk to that investment they see potential for the stock’s value and their capital vanishing.

Run for Shelter When Stocks are Falling

Investors seek safety from risk and uncertainty. The ultra low return yet virtually no risk bond market provides safety. It’s a shelter from the storm. While things get rough on the high seas, investor’s make sluggish gains in the bond market which beats rapidly losing gobs of cash in an unstable stock market that is fearing global impacts of the Coronavirus.

Finally, when demand and cash both flow from stocks into bonds during a cycle known as a “flight to quality” – bond prices increase. Increased bond prices lead to lower home loan rates. Often, times this scenario is paradoxical. On one hand something not so great is happening while on the other interest rates drop.

In conclusion, the Coronavirus and those imapcted are the most important. An end cannot come too quickly. While we can’t predict these polarized situations, it’s important to learn how they impact financial markets and more specifically home loan interest rates here in the US.

The post Mortgage Rates Fall on Coronavirus Fears appeared first on Arizona Mortgage Lender | The HOUSE Team.

Confidence Is the Key to Success for Young Homebuyers

ABLEnding — Wed, 11 Mar 2020 14:49:21 +0000

Buying your first home can seem overwhelming. Thankfully, there’s a lot of great information out there to help you feel more confident as you learn about the process. For those in younger generations who aspire to buy, here are three things to consider sooner rather than later in your journey:

1. Understand What it Takes to Purchase a Home

Overall, Millennials make up the largest group of homebuyers in today’s real estate market, and Gen Z is not too far behind. A recent study shared by Freddie Mac shows, however, that Generation Z isn’t as confident in the homebuying process as Millennials. The best thing potential young buyers can do is understand what it takes to buy a home. Learn as much as you can about the mortgage process, down payment options, and the overall steps to take along the way.

2. Realize Your Opportunity to Build Wealth

Homeownership allows you the chance to put a small portion of the home’s value down when you buy, and then watch your appreciation grow on the full value of the home – not just on the down payment. It’s one of the best investments you can make, and a form of ‘forced savings’ working in your favor over time. The added bonus? You get to live there, too.

3. Find Someone You Trust to Help You Through the Process

Having someone you trust to guide you through this process is invaluable. Finding a local real estate expert to help you navigate through the transaction and feel more confident as you make important decisions could be the best choice you make.

For Millennials and Gen Z’ers thinking about buying, today’s historically low interest rates combined with the outlook for future home appreciation is a big win. This means whatever you buy today, you’ll be bragging about 10 years from now. You can feel confident about that!

Bottom Line

If you’re ready, buying your first home sooner rather than later is one of the best decisions you can make. But there are many things to consider before taking that step, so it is critically important to educate yourself properly and find someone who can help you confidently navigate through the full journey.

The post Confidence Is the Key to Success for Young Homebuyers appeared first on Keeping Current Matters.

Remortgage – Isn’t It Time You Got A Better Deal?

ABLEnding — Wed, 11 Mar 2020 10:49:26 +0000

The following blog post Remortgage – Isn’t It Time You Got A Better Deal? is available on: ABLEnding, Inc San Diego

Remortgage – Isn’t It Time You Got A Better Deal?

If you have had your mortgage for some time, then it could be a good idea to get it out and look at it real good. Why? Simply because you may be able to get a much better deal. With interest rates changing every day, new loan options, and increasing equity on your house, means that many factors may now mean that you could reduce your mortgage payments each month, or more. Here is how you can determine if a better deal is possible for you.

Decide On Future Plans

Remortgaging your house may not be for everyone. This is especially true if you are thinking of moving in less than three years – or even five. The main reason for this is the cost of refinancing your mortgage. There will be some closing costs involved, so it will take you anywhere between one and three years to get this money back in order to break even. But if you are planning on staying more than that, you should do some serious thinking about a remortgage.

Check The Current Rate For Mortgages

The interest rates that are available for mortgages change every day – sometimes even more often than that. The important thing is that they are constantly changing – both up and down. By watching trends on the mortgage rates, and knowing your own rate of interest, you can see when the rates drop to more than 1% lower than what you have now. That is the time to refinance. Or, even better, if you see a slow downward trend, wait a few more days or a week or so, and it may even go lower. You will have to decide on the best time. You may also want to consider the advice of those who know the market and make predictions.

Get Better Terms

Since your financial situation may have changed over recent years, you may want to make some adjustments on your mortgage that reflects those changes. If you are doing financially better, then you can remortgage, get lower rates, and a shorter time for repayment. This will result in saving a lot of money overall and get you out of debt quicker.

If, on the other hand, your financial situation has not been so good lately, and you are feeling the pinch on your finances, then remortgaging could allow you to get lower monthly payments, your some of your equity, and stretch out the time period for repayment. A longer time period, however, may result in greater indebtedness.

Consider Getting Some Of Your Equity

One more thing. Getting a remortgage can also give you access to your equity – some or all of it. There are different types of mortgages that you can get in order to get what you want. Although the best way to reinvest your equity is to put it back into the house – at least some of it, it could also give you opportunity to do a debt consolidation, to buy a car or boat, or pay for medical bills or college. The choice belongs to you as to how you use it. When you use it on your house, it also becomes tax deductible, too.

ABLEnding, Inc,
1455 Frazee Road
Suite 500
San Diego, CA 92108
(805) 209-0123

Mortgages. The Pitfall Of Interest Only Mortgages.

ABLEnding — Wed, 11 Mar 2020 10:49:20 +0000

Mortgages. The Pitfall Of Interest Only Mortgages. is republished from: San Diego Mortgage Broker

In the first three months of 2002, just 9% of all new mortgages were taken as interest only – but by the last quarter of 2005, the figure had risen to 23%. And amongst first time buyers, the figures rose from 6% to 15%. (Source: Council of Mortgage Lenders.)

The reason is obvious. It’s down to family economics. With an interest only mortgage, the monthly repayments only repay the ongoing interest so your monthly repayment is low. Repayment of the capital borrowed is delayed to the end of the mortgage when it has to be repaid as a lump sum.
So the popularity of interest only mortgages is a reflection of borrowers wanting to minimise their fixed monthly outgoings in order to preserve their lifestyle – they still want their nice cars, nights out and holidays abroad. But their reluctance to cut back on their life style spending, combined with steadily rising house prices, could be storing up problems for the future. If they’re not repaying some of the capital now, how are they going to repay it?

Egged on by the concerns voiced by the Financial Services Authority (FSA), many lenders are now becoming much stricter when assessing an application for an interest only mortgage. They’re insisting that there’s a viable repayment vehicle in place before they’ll payout the money. These repayment vehicles could be the tax-free cash forecast from a pension policy, or an ISA or some other regular investment or savings scheme. The danger is that having got the mortgage, the borrower subsequently cancels their savings scheme.

If that were to happen, when retirement finally arrives accompanied by the looming commitment to repay the mortgage capital, they’ll be faced with having to sell their home and down size simply to free up money to repay the mortgage. And that’s a scenario that lenders and the FSA are anxious to avoid.

Twenty years ago interest only mortgages were the accepted norm with endowment policies being used as the most popular investment to repay the capital. But as we now know, returns on endowment policies have not been as high as many had assumed. This has left thousands of homeowners with a capital repayment shortfall. Endowment policies have certainly failed to be the “guaranteed “ repayment solution that many of us had assumed twenty years ago. So, in today’s economic and investment environment, how certain can you be of any scheme to repay the capital?

When the shortcomings of endowment policies slowly became understood, interest only mortgages fell out of favour and repayment mortgages took over as the norm. But once again the pendulum is swinging. Interest only mortgages are back in a big way. It’s the result of high house prices and people straining to get onto and up the housing ladder without wanting to economise on other areas of their spending.

We’re sure that the pressures within family finances will continue to fuel the demand for interest only mortgages. However, it becomes the duty of mortgage brokers and the lenders to point out the alternatives open to their clients.

In the past, a 25 year mortgage term has been the norm for a young buyer. But now they can stretch the repayment period to 30, even 35 years. This makes the payments on a repayment mortgage far more affordable.

For example, the monthly repayments for a £125,000 repayment mortgage over 25 years at say, 4.9% cost £731.69 per month, but if the repayment period was stretched to 35 years, the repayment drops to £628.16 per month, a cash flow saving of £103.53.

The idea is that as and when family finances permit, borrowers can reduce the capital outstanding by making optional lump sum repayments. In practice, people tend to move house every eight to ten years and at each move a new mortgage has to be organised. These moves then represent an obvious opportunity to reassess long-term family finances.

But other solutions are available. You could arrange a mortgage where part of the loan is on a repayment basis with the balance on interest only. It’s a mid way option. At least these types of mortgage start the repayment process and later when you move home or the family income builds, you can take the opportunity to reassess the most suitable type of mortgage.

But please bear in mind that you shouldn’t speculate when it comes to your home finances. Mortgages are complicated and there is never just one solution. Our advice is take professional advice and use a mortgage broker who can search the entire market.

ABLEnding, Inc,
1455 Frazee Road
Suite 500
San Diego, CA 92108
(805) 209-0123

Carolina Online Home Loans

ABLEnding — Wed, 11 Mar 2020 09:19:23 +0000

Carolina Online Home Loans was originally published on: ABLEnding, Inc California Blog

Carolina Online Home Loans

Living in the Carolinas has so much to offer residents. Toasty summers, mild winters, lovely beaches, bucolic mountains, a thriving night life, several diverse communities, and great foodstuff are some of what you can find in this lively region. Home prices have been increasing steadily these past few years, therefore loan financing continues to play an important part in the local economy. Let’s take a look at some Carolina Online Home Loans you can apply for today!

Adjustable Rate Mortgages – affording a new home is simpler today as variable rate mortgages or ARMs remain popular with consumers. Interest rates on your ARM can be as much as one full percent lower than what you would pay with a fixed rate loan. Rates are generally set for the first few years of the loan and then adjust to the prevailing rates as determined by the government.

Introductory Rate ARMs – Carolina Online Home Loans are also available as Introductory Rate ARMs. Typically, with these types of loans, the rate is set low for a specified length of time. This can allow home owners, just like you, to get a larger home for the money.

Graduated Payment Mortgage – The GPM is another option to the traditional adjustable rate mortgage. Rates are set for one year and then rise at predetermined amounts in the ensuing years.

Fixed Rate Mortgages – These are one of the most prevalent and universally accepted Carolina Online Home Loans available. Rates are set throughout the term of the loan which is typically for 15 or 30 years. Other term packages offered by some Carolina lenders are for 20, 25, and even up to 40 years.

Balloon Mortgages – Balloon loans are short term mortgages that have some of the same features as a fixed rate mortgage. Typically, the rate is set notably low for a set period of time. At the end of that specified time, rates increase and the loan has essentially “come due” or you can refinance at that time to establish a lower variable or fixed rate.

So, no matter which type of loan you select, you may soon find yourself living in the Carolinas enjoying the good life. Search online today for your Carolina Online Home Loan!

ABLEnding, Inc,
1455 Frazee Road
Suite 500
San Diego, CA 92108
(805) 209-0123

Mar. 10: Sr. sales job; processing, marketing, tech products; disaster updates; rate volatility continues

ABLEnding — Tue, 10 Mar 2020 15:49:06 +0000

There sure is a lot going on out there! There is talk of warehouse banks temporarily suspending funding refi biz, lenders charging lock fees, lenders & vendors restricting visits from outside personnel, avoiding RESPA violations but “pushing off” difficult loans or borrowers that are shopping rates, and lenders making their pricing more aggressive for purchases but creating a hit for refis. Of course lenders are increasing margins since it is the easiest way to cut volume in a hurry. Certainly pleas from LOs about, “Can’t we match our competition? They’re better than us by .125!” are going unheard. Lenders are increasing refi lock times to 90 days, and usually giving 30- or 60-day pricing regardless. And analysts are busy thinking about all of this. One wrote me, “What about the impact of a 12-15%, or higher, corona-virus driven drop in the stock market on purchase volume? While a refinance volume surge is happening, the impact of lower rates on purchase volume may be offset by the impact of financial losses in the stock market on down payments and a general unease about a weakening economy. We could be entering a ‘not the time to buy’ mentality, especially with expected significant layoffs in certain sectors, e.g., hotels, airlines, food and beverage, etc.” Meanwhile, JW Michaels & Company released its annual Financial Services Market Data Report showing compensation for various executive positions of top-tier financial services, accounting, legal, technology, and business institutions. (Of course, STRATMOR has its survey dedicated to the mortgage industry.)

Employment & promotions

Zoral Group Inc., an international leader and innovator in the AI/ML/Digital Products/RPA/Big Data space, is seeking a National Sales Director. Zoral is looking for a true “hunter” with mortgage industry knowledge and extensive contact database, plus demonstrated prior success selling end-to-end mortgage and consumer lending solutions. Knowledge of Artificial Intelligence and Data Analytics is a plus. This is a great opportunity for a business development executive to work with a fintech software company with over 15 years of experience and a broad global client base and help them broaden their reach in the US Market. Location agnostic, but will require some travel to attend industry conferences as well as visit client locations. 1099 Preferred. To learn more or to submit your resume, please contact Peter Sandler, SVP.

NewRez added Baron Silverstein as President and Neeraj Kalani as Chief Marketing Officer.

Lender products & services

Still in need of a digital mortgage platform for your business? It’s not too late or too busy to refine your business for higher margins and a more efficient LO organization. 2020 HW Tech 100 Winner, Maxwell, continues to stand out from the digital mortgage competition with their software designed for the true end user — the loan officer — and a customer success team designed to speed up time-to-value, averaging only 2.5 weeks to launch most clients. Speed matters, and investing now will reap large benefits in the future. To learn more about Maxwell and their mortgage dedicated digital platform, click here or request a demo.

Housing inventory has hit an eight-year low according to Realtor.com, stoking desperation and bidding wars among eager homebuyers. In hot markets, agents know that quickly submitting an offer from a qualified buyer can secure a home under contract, while a prolonged pre-approval can send buyers into a tailspin. SimpleNexus’ “from anywhere” platform makes it easy for LOs to rapidly turn pre-approvals. At GreenState Credit Union, one LO “received an application at 9 pm on a Friday night while riding in a car and was able to deliver a pre-approval within minutes.” Needless to say, the Realtor was blown away. Read the full account here. To learn more about how you can earn a reputation as a stand-out partner to borrowers and real estate agents, schedule a demo with SimpleNexus today.

Even the best-laid plans go awry sometimes. More than 2,500 mortgage pros attend Ellie Mae Experience every year in search of new and innovative ideas. The show’s cancellation, announced yesterday, has left a lot of people with open calendars March 23-25. LBA Ware invites you to block off 15 minutes of that time to square away your incentive comp administration. LBA Ware’s CompenSafe has a plug-and-play Encompass integration that seamlessly retrieves loan pipeline data to automate near real-time incentive compensation management. Book a virtual meeting with LBA Ware’s CEO Lori Brewer to see how CompenSafe streamlines operations, motivates sales teams and improves transparency.

Join National Mortgage Professional Magazine and First Equity Funding on Thursday, March 12 at 2:00 PM Eastern/11:00 AM Pacific, to learn how to “Boost your overall loan origination by working with real estate investors.” Christian Pepe and Anthony Palmiotto will dive into how to work with real estate investors to not only increase your business, but also dramatically increase your conventional and FHA business. They will tell you strategies that can be the gateway to new realtor relationships and first-time home buyer business. Some topics that will be covered include understanding the mindset of a real estate investor, strategies to earn real estate investor business, what is the BRRRR Method and why you need to understand this strategy, increasing first time home buyer business through investor relationships, winning realtor referrals through investor clients, and turning denials into closed loans. Click here to register.

Did you know that only 21% of marketing automation users feel that their capabilities are above average or higher? The most common barriers to success include the absence of a sound strategy and the inability to fuel the content required to nurture different buyer pathways along with poor implementation of the technology. Seroka Brand Developments’ Marketing Automation Optimizer helps you take full advantage of your marketing and sales automation technology. Whether you’re using Marketo, Hubspot, Pardot, Outreach, SalesLoft or any other technology, Seroka can assist you. They have the strategic capability, content development expertise and technical knowledge to drive a successful program for your company. Reach out to Seroka today for a FREE consultation, and get ready to #turnupyourbrand in 2020!

The future of lending awaits. Blend is partnering with industry leaders to create real change. Executives from Navy Federal, Eagle Home Mortgage, and Truist will be speaking at Beyond 2020, Blend’s digital lending conference. Check out the details and join Blend in writing lending’s bright new future.

With application volumes through the roof, lenders already feel like they’re drinking from a firehose. And the surge has just begun. Many are wondering how best to prepare for a fast-paced 2020. In my experience, boom times can quickly overtax processors and underwriters, revealing weak links in workflows that ordinarily seem solid. If you’re drowning in applications and missing turn time targets, you’ll want to zero in on the process inefficiencies that are slowing you down and find ways to improve them. FormFree’s Passport shaves hours of manual work off each loan file by automating asset, income and employment verification in a single report. It not only speeds up processing and underwriting, it also frees originators to spend more time ‘wowing’ borrowers to earn the referrals that will keep you riding high after the market slows. Reach out to Christy Moss for more info.

“Since 1986, Sutherland has been a dedicated partner enabling our clients to maximize their opportunity to build their business portfolio. Today, mortgage volume is surging and lenders are looking for concrete solutions to capitalize on our unprecedented rate environment. Whether your need is Underwriting capacity or portfolio retention, Sutherland has the experience needed. Our dedicated Solution Architects and onboarding specialists develop a sound ramp strategy, and in most cases, have our clients up in less than 45 days. If you would like to schedule a discovery call, reach out to Neil Armstrong, AMP.”

Disaster news

No, this isn’t a report on your lock desk’s morale. Or, at this point a disease update. We’ve had the Pearl River Flooding (Mississippi, Feb 10-14) and Tennessee Tornadoes (March 2-3).

(That said, Lenders Compliance Group published an FAQ that discussed how businesses can proactively prepare for the impact of COVID-19. It is called Pandemic Preparation: Bracing for COVID-19.)

FEMA declared designated counties in Tennessee as disaster areas in DR-4476. The states’ Storms, Tornadoes, Straight-line Winds, And Flooding for the incident period March 3^rd warranted Individual Assistance to Davidson, Putnam and Wilson counties.

An update has been made to the Lakeview Loan Servicing Disaster File either declaring a new disaster.

First Community Mortgage posted 2020-02 Delegated Correspondent Announcement that outlines the 4 Tennessee Counties added to the FEMA Declared Disaster list. Its 2020-03 Announcement adds updated information specific zip codes in Davidson County TN. And First Community Mortgage posted 2020-04 and 2020-03 Wholesale Announcement’s regarding FEMA declared disaster areas in Tennessee, along with a disaster update announcement regarding counties in South Dakota for its Delegated Correspondent and Wholesale channels.

An update has been made to the Lakeview Loan Servicing Disaster File regarding DR 4469 – South Dakota Severe Storms, Tornadoes, and Flooding.

Veros Real Estate Solutions announced the availability of a new enhancement to its Disaster Data Solution: Executive Portfolio Dashboard Reporting. This dashboard report provides a visual summary of the potential impact on a portfolio of properties following a natural disaster such as a wildfire, hurricane or earthquake. When a region is declared a disaster area, the Disaster Data Solution allows lenders, servicers, appraisal management companies, and other mortgage transaction participants to determine if a U.S.-based residential property is likely to have been directly affected. This new dashboard visualizes tiered levels of exposure in a portfolio, from no-exposure to maximum-exposure, displaying potentially impacted areas in relation to properties in the portfolio. Veros Disaster Data Solution allows a servicer to: Pinpoint which borrowers to focus immediate outreach. Prioritize properties for property condition inspection. Protect servicers real estate assets. Gain an executive dashboard overview of portfolio exposure. Maintain compliance with GSE disaster policy regulations.

Capital markets

Last week’s positive economic data was eclipsed by the continued spread of the coronavirus and the unexpected emergency 50 basis point rate cut to the Fed Funds Rate by the Federal Reserve. While the number of patients being treated in the US remains a fraction of those overseas, financial markets were volatile and the 10-year Treasury bond yield sank to a record low of 0.69 percent. Most experts expect a global economic slowdown as a result of the virus and the resulting impacts of quarantines and production shutdowns in the supply chain. Despite the emergency rate cut, the markets still expect the Fed to cut further following the upcoming FOMC meeting on March 18th with a near 100 percent probability of a 25-bps rate cut and potentially even another 50bps rate cut. Financial markets will closely watch industrial data coming from China which already say auto sales decrease 80 percent year over year in February. Predicting the full economic impact of the coronavirus remains a challenge especially given the uncertainty about how and where the virus will spread.

My daughter tells me that Mercury is in retrograde (whatever that means), and that is why markets are so panicked. U.S. Treasury yields on the 5-year note, 7-year note, 10-year note, and 30-year note all sank to fresh historical lows yesterday. In addition to further coronavirus concerns, the rally was prompted by a plunge in the price of oil after Saudi Arabia cut its wholesale prices for April and signaled plans to increase production, launching a price war with Russia after OPEC failed to agree to a production cut last week. Oil prices are down 50% in the last couple months. The 10-year yield fell to a record low of 0.398 percent during trading before closing the day -21 bps to 0.50 percent. The fed funds futures market is now pricing in a 75-bps cut to the Fed Funds Rate on or before March 18. The market selloff speaks to a sense that policy makers are falling further and further behind the virus.

In addition to oil seeing its worst price drop since 1991, Japan posted a 7.1 percent decline in Q4 GDP, even worse than expected, analysts now say Europe will almost certainly fall into a recession, China’s January/February trade deficit totaled $7.09 billion (the expected surplus was $24.60 billion; the prior surplus was $47.21 billion), and gold, which tends to rise when investors are worried about the stock market, did just that. I’d like to sit here and say the virus does not justify the panic, but once financial markets are spooked, they move with a mind of their own.

As I said yesterday, economic releases matter little these days. Today, besides a big bounce back in stock markets, sees another relatively light calendar, which began with the NFIB Small Business Optimism Index for February. The Treasury will conduct the first leg of this week’s mini-Refunding when $38 billion 3-year notes are auctioned in the afternoon. The Desk will conduct a GNII FedTrade operation targeting up to $288 million 2.5 percent ($124 million) and 3 percent ($164 million). We begin today with Agency MBS prices all over the map but generally worse .125 and the 10-year yielding .64 percent.

Paddy was driving down the street in Chicago sweating because he had an important meeting and couldn’t find a parking place.

Looking up to heaven he said, “Lord take pity on me. If you find me a parking place, I will go to Mass every Sunday for the rest of me life and give up me Irish Whiskey!”

Miraculously, a parking place appeared at Deloitte and N Clark.

Paddy looked up again and said, “Never mind, I found one.”

Visit www.robchrisman.com for more information on our industry partners, access archived commentaries, or to subscribe to the Daily Mortgage News and Commentary. If you’re interested, visit my periodic blog at the STRATMOR Group web site. The current blog is, “Drinking from a Firehose is Not a Long Term Business Model” If you have the inclination, make a comment on what I have written, or on other comments so that folks can learn what’s going on out there from the other readers.

Rob

(Market data provided in partnership with MBS Live. For free job postings and to view candidate resumes visit LenderNews. Currently there are hundreds of mortgage professionals looking for operations, secondary and management roles. For up-to-date mortgage news visit Mortgage News Daily. For archived commentaries, or to subscribe, go to www.robchrisman.com. Copyright 2020 Chrisman LLC. All rights reserved. Occasional paid job listings do appear. This report or any portion hereof may not be reprinted, sold or redistributed without the written consent of Rob Chrisman.)

Equity Gain Growing in Nearly Every State

ABLEnding — Tue, 10 Mar 2020 13:49:08 +0000

Rising home prices have been in the news a lot lately, and much of the focus is on whether they’re accelerating too quickly and how sustainable the growth in prices really is. One of the often-overlooked benefits of rising prices, however, is the impact they have on a homeowner’s equity position.

Home equity is defined as the difference between a home’s fair market value and the outstanding balance of all liens on the property. While homeowners pay down their mortgages, the amount of equity they have in their homes climbs each time the value increases.

Today, the number of homeowners that currently have significant equity in their homes is growing. According to the Census Bureau, 38% of all homes in the country are mortgage-free. In a home equity study, ATTOM Data Solutions revealed that of the 54.5 million homes with a mortgage, 26.7% of them have at least 50% equity. That number has been increasing over the last eight years.

CoreLogic also notes:

“…the average homeowner gained approximately $5,300 in equity during the past year.”

The map below shows a breakdown of the increasing equity gain across the country, painting a clear picture that home equity is growing in nearly every state.Bottom Line

This may be the year to take advantage of your home equity by applying it forward, either as you downsize or as you move up to a new home.

The post Equity Gain Growing in Nearly Every State appeared first on Keeping Current Matters.

Remortgage – Isn’t It Time You Got A Better Deal?

ABLEnding — Tue, 10 Mar 2020 09:19:28 +0000

Remortgage – Isn’t It Time You Got A Better Deal? is courtesy of: ABLEnding, Inc California

Remortgage – Isn’t It Time You Got A Better Deal?

Decide On Future Plans

Check The Current Rate For Mortgages

Get Better Terms

Consider Getting Some Of Your Equity

ABLEnding, Inc,
1455 Frazee Road
Suite 500
San Diego, CA 92108
(805) 209-0123

Mortgages. The Pitfall Of Interest Only Mortgages.

ABLEnding — Tue, 10 Mar 2020 09:19:22 +0000

Mortgages. The Pitfall Of Interest Only Mortgages. was originally seen on: ABLEnding, Inc California Blog

ABLEnding, Inc,
1455 Frazee Road
Suite 500
San Diego, CA 92108
(805) 209-0123

Credit Repair Co. Settles Charges Re: “Piggybacking” on Others’ Credit to Boost Scores

ABLEnding — Tue, 10 Mar 2020 00:34:56 +0000

BoostMyScore.net (BMS), a Colorado-based credit repair company and its owner have agreed to settle Federal Trade Commission charges they mislead consumers with promises to “drastically and immediately” improve credit scores and increase access to lower rates on mortgages. In its complaint, the FTC alleges that the defendants guaranteed consumers that, in exchange for fees ranging […]

Mortgage Rates & the State of Emergency

Jeremy House — Sat, 14 Mar 2020 02:42:02 +0000

Financial markets are impacted by global events such as the Coronavirus. Mortgage rates are among the financial products feeling the Pandemic’s impact. March 13, 2020 the State of Emergency declaration also effected mortgage rates.

What is a State of Emergency
How did Mortgage Rates React to the SOE
Do Rates Go Back to 3/9/20 All Time Lows?
Does a Fed Funds Rate Emergency Cut Help?
How to Recover from a Rough Week

State of Emergency – What is It?

Before contemplating it’s impact, understanding a State of Emergency is crucial. At its most basic level a State of Emergency opens doors and empowers the government to act on a grander stage in a more unfettered manner. However, it does not mean that everyone’s life is in immediate danger.

Declaring a State of Emergency allows the government to act in unique ways to solve an exceptional problem – including allowing the dumping of infectious medical waste in the ocean – I’m not making this up!

Learn more about what a President can and cannot do under an SOE

Depending on which law resource you read, a State of Emergency gives the President powers vested in 100 to 125 laws. These laws state “in the case of a National Emergency the President can do x”.

How Mortgage Rates React to the SOE

Today marked the 60th State of Emergency declared by a sitting President in United States history. As you may know, financial markets tend to react to this kind of thing and today was no exception.

To set the foundation it’s important to know how mortgages rates work. In short, mortgage rates fluctuate with the action and reaction of an open financial market. In fact, movement in mortgage rates often rivals the temperamental stock market. In fact, the stock and mortgage backed security (bond) market are interrelated. Furthermore, just as fear and uncertainty move stocks, they can also drive mortgage rates while driving consumers crazy.

Considering the above, this weeks interest rate volatility seems logical based on the Cornovirus footprint expanding. For example, mortgage rates hit historical lows Monday March 9, 2020. As the NBA suspended it’s season and Disneyland closed the next 4 days erased new lows and pushed mortgage rates back up. Important reality check – Mortgage rates remain at very attractive/low levels.

In short, as virus news spread the markets shook with uncertainty. It stands to reason that uncertainty‘s polar opposite – certainty – will pave a return path to normalcy.

Will Mortgage Rates Fall Again?

Will we return to the ultra mega low rates of this past Monday? Maybe – but that’s as tough a question to answer today as on any non-coronavirus toned day of the year. Actually, it’s even tougher to answer right now. I advise that anyone even lightly flirting with refinancing or buying a home to apply and get into position to lock your rate. As the past 2 weeks have proven, rates can rise and fall and only those who are positioned properly can strike while the iron’s hot.

Ultimately, when markets jet in one direction “too” quickly they tend to rebound. Fear typically creates rapid movement. Fear also typically subsides at some point. That subsidence is when markets regain footing. In other words, I expect interest rates to come back down.

However, it’s critical to know what “rates coming back down” really means. It means rate should settle down from their current higher levels. Current levels are higher than 5 days ago. Do rates come back to Monday 03/09/20 levels and then dive deeper than that? Time will tell. First rates need to come back down to last weeks levels.

How Would a Fed Emergency Cut Play Out?

While a Fed Rate cut is never a direct line to lower mortgage rates, many are taking solace in the whispers of another emergency Fed Cut next week. While the talk and execution of another cut will sound and feel safe, ultimately the solution lies elsewhere.

After-all, the fear and uncertainty behind mortgage rates going up and stocks falling is different this time. Its our concern over our family’s health, what schools and businesses will shut down and who has to stay home without a paycheck due to a work closure or their child’s school closure.

All of these concerns logically tie to the stock sell off this week. None of them are cured by a Fed Funds Rate reduction. An emergency Fed Cut feels optical. It supports the administrative direction. Not a horrible thing. Just not a pound for pound influence on mortgage rates.

Reversing Course After a Rough Week

The things I believe renew market strength and confidence and that circle us closer to Monday’s ultra low mortgage rates are:

A firm determination of the viruses Scope in the US (better testing will help with this)
Plan to limit the spread of the virus (limiting large events etc.. will help with this)
Streamlined health care treatment plans (freeing up resources will help with this)
Financial backstopping for those impacted (deferring student loan interest – in part – helps with this)

In fact, look at stocks and mortgage rates after the Presidential address. You’ll see both improved into the bell. In fact, the stock market just had it’s best day since 2008. This is a microcosm of what will slide the rate scale back toward pre-March 10, 2020 levels.

Lastly, the market observing a swift and measurable plan of attack on the virus would go a long toward picking up the pieces of a financial week that resembled a Jenga stack after a bad play. For now stay tuned!

The post Mortgage Rates & the State of Emergency appeared first on Arizona Mortgage Lender | The HOUSE Team.

Double Fed Cut & Mortgage Rates | Coronavirus Influence

Jeremy House — Mon, 16 Mar 2020 05:09:48 +0000

The Feds 2nd March 2020 Rate Cut is proactive economic support as the Coronavirus impact expands. While mortgage rates may drop, the Fed Funds Rate is not why. Smart move is – be ready for a mortgage rate improvement.

Different of Rates React to the Same Thing

The Fed voted on a 2nd March 2020 Fed Funds Rate cut on Sunday March 15th. Their goal – plug future holes poked in the US economy by the Coronavirus.

Apply for a Home Loan Now
Team@JeremyHouse.com
602.435.2149

A second set of rates often falling during economic uncertainty are Fixed Mortgage Rates. Mortgage rates move with mortgage bond pricing. Bond pricing often improves when Wall Street perceives economic slippage. This then causes a drop in mortgage rates.

Ultimately, the Fed Funds Rate and Mortgage Rates both can fall for the same core reason – economic worries. However, the movement is independent:

Fed Funds Rate Movement: Group of elected officials vote to move this rate. The same group must vote again for further movement.
Fixed Mortgage Rate Movement: These rates move constantly due to the dynamics on Wall Street.

Ultimately and technically, neither rate moves the other. However, sometimes technicality takes a back seat to reality. Especially when cheaper housing payments are possibly in the balance.

Apply for a Home Loan Now
Team@JeremyHouse.com
602.435.2149

2 Ways to the Same Place

Theory is important. However, reality is important too. While the vehicle driving mortgage rates lower is different from that which carries the Fed Funds Rate further south, if both move low and you can buy or refinance at a lower rate – does theory matter?

Since these 2 rates have been seen running as a 3 legged race team, preparedness to pounce matters most. What’s the worst that getting positioned now can do? Maybe we get surprised if the Fed Funds Rate and Mortgage rates go in different directions. This has happened more before and is possible. But why risk missing that window of historical low rates when there is no down side to being ready?

However, the ready to pounce group stands a chance the same thing pushing the Fed Rate down also knocks mortgage rates a few ticks lower. After-all, despite having no direct connection – both fixed mortgage rates and the Fed Funds rate tend to drop when economic concern runs wild.

Apply for a Home Loan Now
Team@JeremyHouse.com
602.435.2149

The post Double Fed Cut & Mortgage Rates | Coronavirus Influence appeared first on Arizona Mortgage Lender | The HOUSE Team.

Mar. 11: Ops, LO (incl. SBA) jobs; marketing, broker, non-QM products; training & events, many over the phone

ABLEnding — Wed, 11 Mar 2020 16:49:10 +0000

Appraisal Flexibility During COVID-19

Jeremy House — Tue, 24 Mar 2020 01:32:11 +0000

Appraisal report exceptions are now in effect to help facilitate residential real estate transactions. The temporary rules protect appraisers and homeowners from the risks of COVID-19.

COVID-19 Appraisal Safety

Typically, a home loan transaction allows an appraisal waiver or requires a full interior / exterior appraisal. For the latter, an appraiser visits the property inspecting it inside and out. In order to stem the COVID-19 spread, Conventional loan appraisal rules temporarily eased in light of the virus.

During the COVID-19 outbreak 2 alternate appraisal reports for Conventional home loans now exist. Both reports may replace the standard full interior / exterior appraisal report. Neither reports require the appraiser inspect the home’s interior.

2 Appraisal Report Options During COVID-19

Conventional loans may use either a Desktop Appraisal or Drive By Appraisal when a Full Interior / Exterior Appraisal is not an option. In other words, if an appraiser or homeowner do not want to risk exposure to COVID-19 due to an interior home inspection the lender may one of the substitute reports below.

1. Desktop Appraisals

A Desktop Appraisal is allowed for purchases using Conventional financing. Desktop Appraisal reports include the same data full appraisal reports do. However, appraisers do not inspect the subject property nor do they view the exterior in person. Instead, appraisers use the resources below to determine property value:

Public Records
MLS data
Other 3rd Party Date

2. Exterior Appraisals

Exterior (or “Drive By”) Appraisals are allowed temporarily for both purchases & rate and term refinances using Conventional financing. Drive By appraisals contain the same information as full appraisal reports. However, on Drive By reports appraisers only visually inspect the subject property’s exterior. No physical interior inspection occurs. In addition, the resources below help appraisers determine property value:

Public Records
MLS data
Other 3rd Party Data
Observations Made During Drive By

Values From Reports May Vary

While the temporary alternate appraisal reports grant flexibility during Social Distancing, the home values on the reports may vary. Most notably, custom homes and homes with unique upgrades may not obtain the desired value as a result of appraiser’s not inspecting the home.

Consult with your Real Estate Agent for more. In some cases a full interior / exterior appraisal would better capture a home’s full value.

The post Appraisal Flexibility During COVID-19 appeared first on Arizona Mortgage Lender | The HOUSE Team.

The Ultimate Guide to “Types of Annuities”

Ryan Eaglin — Thu, 23 Aug 2018 18:43:57 +0000

Share List Are you approaching retirement? If so, you’re probably finalizing your plans. Perhaps you’re projecting your income, developing your retirement budget, or even analyzing your investment allocation. Retirement is a big financial challenge, so it’s important that you develop the right strategy for your needs and goals. You have a wide range of financial…

Health Care in Retirement: What’s Your Funding Strategy?

Ryan Eaglin — Fri, 17 Aug 2018 14:43:55 +0000

Share List Think Medicare will cover all your health care expenses in retirement? Think again. Medicare is a valuable resource for retirees, but it doesn’t cover everything. In fact, even for covered services, Medicare doesn’t cover the full cost. In most cases you’ll have copays and deductibles. In fact, Fidelity estimates that health care could…

How Gen Xers Can Catch Up on Their Retirement Savings

Ryan Eaglin — Tue, 14 Aug 2018 20:17:21 +0000

Share List Are you a member of Generation X? Feeling uncomfortable about your preparedness for retirement? You’re not alone. A recent study from Transamerica found that only 12 percent of Gen Xers feel secure about their ability to retire. The study found that the average Gen X household has only $69,000 in retirement savings. Generation…

The Other Side of Retirement Planning: Income Distribution Strategy

Ryan Eaglin — Fri, 27 Jul 2018 14:04:05 +0000

Share List For many people, retirement planning is all about asset accumulation. Retirement is a substantial financial goal. To have a successful, comfortable, and financially stable retirement, you’ll likely need income that lasts for multiple decades. Generating that kind of income requires assets, hence the focus on saving and accumulation. There is, however, another side…

Watch Out for these 3 Financial Risks in Retirement

Ryan Eaglin — Thu, 19 Jul 2018 17:19:48 +0000

Share List Retirement is supposed to be about enjoying the good things in life. It’s a time to travel, pursue a favorite hobby, and spend time with family. After all, you’ve worked hard for decades to accumulate assets. Retirement is your time to enjoy the fruits of your labor. Of course, saving money and getting…

Eliminate Your Retirement Shortfall With These 4 Strategies

Ryan Eaglin — Thu, 12 Jul 2018 17:59:06 +0000

Share List Behind on your retirement savings? While you may be feeling some stress about your retirement outlook, you certainly aren’t alone. According to Gallup’s 2017 study of financial concerns, more than half of all Americans are worried about their ability to pay for retirement. If you’re behind on your savings, the simple solution is…

NewsMax Finance: 5 Ways Annuities Can Protect You From Uncertainty of Stocks

Ryan Eaglin — Mon, 04 Jun 2018 15:03:27 +0000

Share List We have exciting news! Ryan Eaglin, founder of our firm, has been featured on one of the largest polital web sites in the United States, NewsMax. In fact, they have more than 3 million visitors to their site per month. Check out the NewsMax article titled 5 Ways Annuities Can Protect You From Uncertainty of Stocks…

3 Signs You Might Be Ready for Retirement

Ryan Eaglin — Thu, 31 May 2018 19:45:05 +0000

Share List It’s a goal that most workers dream about their entire adult lives. Retirement. The day you finally get to stop building your schedule and priorities around your work obligations and start living life on your terms. If you’re in your late 50s or in your 60s, you may be wondering when will be…

4 Retirement Planning Myths That Could Derail Your Retirement

Ryan Eaglin — Thu, 24 May 2018 17:59:10 +0000

Share List When it comes to planning for retirement, there’s a lot of information available. From financial media to financial professionals to even your own friends and family, there is no shortage of retirement planning advice. Unfortunately, not all advice is good advice. In fact, there are many persistent retirement-related pieces of wisdom that may…

A Retirement Checklist for Baby Boomers

Ryan Eaglin — Thu, 17 May 2018 16:55:03 +0000

Share List You’ve spent the past few decades building a career and raising a family. Along the way, you may have accumulated a substantial number of assets. Now retirement is quickly approaching, and you’re wondering if you’re as prepared as you need to be. Many baby boomers measure their preparedness in terms of assets. They’re…

Best Down Payment on a Home Purchase

Jeremy House — Tue, 26 May 2020 05:08:01 +0000

Choosing the right down payment when purchasing a home is a big decision. Additionally, down payment strategy can impact your overall net worth and financial future for years to come.

Down Payment Options

Unless you pay cash, the mortgage you use to finance your home requires a minimum down payment. For example:

FHA mortgages require 3.5% down payment
VA mortgages require 0% down payment
Conventional requires as low as 3% down payment

Deciding whether to put the minimum down payment or more down on a home purchase is very important. In fact, the decision relates to several factors that differ from person to person.

How do Different Down Payments Impact a Home-buyer?

First, toggling your down payment up or down impacts your monthly mortgage payment. However, payment is just one of many other areas that feel a ripple effect resulting from your down payment decision.

Increasing or decreasing your home purchase down payment changes a wide variety of significant factors. Factors that will impact your finances now and into the future. For example, different down payment levels may cause changes in your:

Interest rate
Mortgage insurance costs
Other investment opportunities

Each of the above should be considered when deciding what down payment is best for you. Both the short term and long term financial plans need to integrate with your final decision on what down payment you make when purchasing a home.

No one size fits all plan exists regarding down payment.

Interest Rate & Down Payment

In general, a relationship between down payment amount and the interest rate you get on your new home loan exists. While not always the case, a smaller down payment typically results in a higher interest rate.

However, there are scenarios where the inverse is true. Ultimately, this dynamic depends upon your qualification along with the loan program(s) you consider.

Mortgage Insurance & Down Payment

While each loan type addresses mortgage insurance differently, one thing is true – lower down payments result in higher mortgage insurance costs. Mortgage insurance depends on more than just down payment. For example, in some cases the higher your credit score the lower your mortgage insurance.

However, mortgage insurance can be part of an overall financial strategy. In other words, it may benefit you to put less money down and pay mortgage insurance while keeping your saved money invested elsewhere.

Other Investments & Down Payment

Each $1.00 over the minimum down payment requirement that a buyer puts down on a new home may equal $1.00 pulled from an investment (ex: 401k account). Similarly, that same extra $1.0 could represent $1.00 that could have been invested elsewhere.

In either case, looking at the big picture is key. Integrating your home purchase, down payment and overall financial plan helps make sure you choose the down payment best suited for your goals.

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