california: Six Business Lessons Rescued from the Ironman Swim - 09/10/17 08:27 AM
Six Business Lessons Rescued from the Ironman Swim
 
Imagine yourself  standing on a beach at 6:55am.  The cool dawn envelopes your senses and the damp sand to which your toes clutch feels like your only shelter.  You are wearing a wetsuit, goggles and a swim cap, and though you are sharing your experience with about 2000 others, little comfort is to be found in their camaraderie.  Over the next 5 minutes your heart will settle higher and more squarely in the back of your throat until a cannon blast will signal the start of your journey, a "race" beginning with a swim … (43 comments)

california: What Happens When You Flip-Flop On Your Home's Listing? - 09/06/17 06:03 AM
What Happens When You Flip-Flop On Your Home's Listing?
 
Oh how we love to skewer our politicians for their changes of heart and mind:
 
"I was for the Iraq war before I was against it." 
 
Or:
 
"Read my lips.  No new taxes." 
 
Or, better still:
 
"You're going to have such great health care, at a fraction of the cost, and it will be so easy."
 
So once your raucous laughter dies down, let's think about what happens when a homeowner lists a house for sale, then, for whatever reason, changes his mind and takes the property "off the market?"  We'll assume this owner contemplates two scenarios from there:
 
(3 comments)

california: Can I Use RSU Income to Qualify for a Mortgage? - 08/16/17 06:07 AM
Can I Use RSU Income to Qualify for a Mortgage?
 
Way back in 1997, Jeff Bezos set forth his bold business plan for Amazon, with proviso #9 reading:  "We will hire and retain the best people and we will not pay them with cash."  Wait.  What???
 
So I guess it's no longer any secret that many technology professionals are compensated with Restricted Stock Units, also known as “RSUs.”  And here at the epicenter of the high tech world, namely the Silicon Valley and San Francisco Bay Area, we see a lot of paystubs and verification of employment forms (“VOE”) that include base pay, … (22 comments)

california: Taking or Shoving a Job? Call Me First - 07/11/17 07:01 AM
Taking or Shoving a Job?  Call Me First
 
The "me" in this title is figurative, of course, and the concept we're going to cover is broad in scope.  And no, I really don't want to hear about your new job and its benefits; the free hot yoga classes and unlimited fair trade organic tea and gluten-free snack bar.  But the concept I do wish to cover has relevance in many other areas of our lives and, hopefully, what I'm about to say will help a homeowner or home buyer save an otherwise strong mortgage application from an unsuspecting, unexpected and undesired demise somewhere down … (4 comments)

california: 80 10 10 Loan in California - 06/22/17 07:12 AM
80 10 10 Loan in California
 
It has been said that the Golden Gate Bridge is one of the most photographed tourist attractions in the world.  But before you get out your selfie stick and entertain visions of relocating to California, especially to the San Francisco Bay Area, know that the median home prices here in the middle of  201 tend to hover over one million dollars --- sometime by more than just a little.
 
It stands to reason that not all otherwise eligible buyers will have a full 20% down payment saved when they attempt to buy a home here in our … (2 comments)

california: Not Able to Refinance? Recast Your Loan in a New Light - 06/06/17 06:48 AM
Not Able to Refinance?  Recast Your Loan in a New Light
 
Over the last decade there have been many opportunities for homeowners to refinance their mortgages to lower rates and, by far, that is the "go to" solution when a borrower is looking to lower his or her payments.  This makes perfect sense.  Let's say the homeowner has mortgage at 4.000% and can get a 3.750%, no-cost refinance.  Lower rate, lower payments, no closing costs added to the balance...win/win/win.  
 
But what about instances where current rates may not be lower or there may not be as clear a case for refinancing?  How … (13 comments)

california: Can I Consolidate My Student Loans with My Mortgage? - 05/31/17 05:48 AM
Can I Consolidate My Student Loans with My Mortgage?
 
Let's face it, buying a home is hard enough.  But if you've been able to do so while still holding some of the debt accumulated during your college and post-graduate years, your life is about to get a little easier.
 
New cash-out refinance guidelines make it easier for homeowners with student loan debt to refinance and consolidate their educational loans along with their mortgage, so long as the following requirements are met:
 
At least one student loan must be paid off. Loan proceeds must be paid directly to the student loan servicer at closing. Only student … (4 comments)

california: What Can I Do to Make My Home Appraise Higher? - 05/24/17 06:06 AM
What Can I Do to Make My Home Appraise Higher?
 
Whether the purchase or refinance of a home, where mortgage financing is involved, you can be sure an appraisal be required in the vast majority of cases. With very few exceptions, homeowners or homebuyers seek to obtain the highest and most accurate appraised value of the property. So what steps can one take to assure that this value comes in? Here are a few tips from the experts:
 
Choose your lender very wisely. Why? Because since the implementation of the Home Valuation Code of Conduct (HVCC) in 2009, most of the mortgage industry … (36 comments)

california: Stretching Your Loan Qualification? Which Mortgage Is Best? - 05/16/17 06:43 AM
Stretching Your Loan Qualification?  Which Mortgage Is Best?
 
Buyers will come to us, often after beholding the perfect home while out touring with their Realtor, and they will want to know the maximum amount they can borrow on a mortgage.  Perhaps they just intuitively realize that their dream home will stretch the outer limits of affordability.  Their question will be, "What is the maximum amount I can qualify for on a mortgage?"
 
At this point, they may ask about interest-only (I/O) loans or ARM programs to help them achieve their target purchase price, so let's play a little game of "Truth or Delusion" and cover some of the … (9 comments)

california: VA Jumbo: The Mother of All Loans - 05/02/17 06:55 AM
VA Jumbo:  The Mother of All Loans
 
Say what you will about the current adminstriation's foreign policy (or any of its policies, for that matter), but the headline news about dropping some really big ordnance got me thinking about something else that can go really big in a veteran's favor --- VA jumbo mortgages.
 
At least here in Marin County, CA, just north of the Golden Gate, we don't see a lot of VA loan scenarios and it's a shame.  Because I'm licensed to originate mortgage loans throughout the state of California, I am aware that there are geographical pockets where Veteran's Adiminstration … (21 comments)

california: California's Stunning Bridge (Loan) - 04/22/17 06:18 PM
California's Stunning Bridge (Loan)
 
It is 2017's peak buying season in the San Francisco Bay Area and many buyers in this competitive, low-inventory market face a challenge greater than just the inability to find the right house.  For them, there's actually a more pressing dilemma.  Before they can even put in an offer on the home of their dreams, they've got a home of their own to sell first.  
 
But it's not as if these buyers have a concern they won't sell their current house or even get top dollar for it.  On the contrary, they're quite sure that once it's listed for … (2 comments)

california: A Special Thank You to My Active Rain Friends - 04/19/17 06:23 AM
A Special Thank You to My Active Rain Friends
 
"Rob, do you ever really get any business from all the time you spend writing?"
 
We have all heard this type of question before, from colleagues, family and even detractors.  And we all have our unique way of answering it, I'm sure.  So I will say that even if I didn't "get any business" from writing, the value in the process and relationships has been well worth any kind of award or reward.  
 
But for those who still must know the answer, I will let the 2016 Scotsman ranking for total dollar volume in … (6 comments)

california: Consolidation Refinances Reign Supreme - 04/18/17 07:18 AM
Consolidation Refinances Reign Supreme 
 
"Someday I'd really like to see these loans together."
 
No, that was never a hit song in the '60's but it is a situation that we encounter frequently in the world of loan origination.  It's a scenario that occurs where a homeowner has both a first and second mortgage and would like to consolidate the two into a single, usually fixed rate, loan.  We'll call this a consolidation refinance for now, and we'll distinguish it from a "debt consolidation" refinance for the purposes of this discussion because a debt consolidation refinance usually implies combining the existing mortgage balance with … (1 comments)

california: It's (Not) Up to You - 04/11/17 07:49 AM
It's (Not) Up to You
 
How many of us have ever worked with a professional on a highly important matter where, regardless of the issue at hand, we reached that critical inflection point, the one where we needed help and answers the most?  What happened when the advisor in whom you put your trust looked back at you and said, "It's up to you."?  How did that make you feel?
 
We are about to go into the height of the spring buying season here in the San Francisco Bay Area, competition is fierce and inventory scarce and a question that many of our buyers … (24 comments)

california: Can You Add Remodeling Costs to a Mortgage? - 03/27/17 07:43 AM
Can You Add Remodeling Costs to a Mortgage?
 
One home buyer niche I know extremely well is 10% down payment jumbo mortgage financing.  We have a good number of prospective homeowners in California, especially here in the San Francisco Bay Area, who earn strong income, who have an excellent credit profile but who just do not yet have the full 20% down payment saved for home prices that are, compared to the rest of the country, very high.  These buyers have certainly not failed and they are not out of luck either.  Once they understand just how competitive an 80/10/10 or other … (12 comments)

california: Imagine All the Savings - 03/08/17 05:50 AM
Imagine All the Savings
 
In my life, I've originated a good number of 30-year fixed rate loans.  And to this day, "a 30" remains the most popular of all loans.  I would contend that it holds, and will continue to hold, this position not because most borrowers do a careful analysis of this mortgage's financial math and whether it aligns with their plans and needs, but because most homeowners simply do not want to contemplate any possibility of an adjustable rate mortgage at any time in their future.
 
But "life is what happens while you're busy making plans for other things" and life … (9 comments)

california: This Must Be Just Like Lending in Paradise - 02/07/17 07:07 PM
 
This Must Be Just Like Lending in Paradise
 
My name is Rob Spinosa.  I'm a workaholic.  And despite the growing body of scientific evidence that is building behind the necessity of vacations, I still do not get away from the office nearly enough.  Some of our clients, on the other hand, have this part of their life mastered and they are considering the purchase of a second or vacation home.  I'd like this meeting to focus on them and what's really involved in getting a home loan on a vacation home?  Let's look at the basics first:
 
1)  A vacation home must be … (5 comments)

california: Foreclosure to the Edge - 01/21/17 08:44 AM
Foreclosure to the Edge
 
Years ago, I felt the call of the mountains and dabbled in high altitude mountaineering.  Man, I just loved the adversity of it all and the higher the peak and taller the challenge, the more I seemed to feel a sense of freedom and accomplishment upon having the experience.  Once down from a summit, I would soon contemplate my next big adventure and often found myself referring to the French alpine rating scale to see what might be within the realm of possibility.  Of course, in the language of love, even the deadliest of ascents had a nice ring … (4 comments)

california: There's Never Just One Cockroach - 01/17/17 07:28 AM
There's Never Just One Cockroach
 
I mean you have to admit that as far as sayings go, the one in the subject line is just about perfect;  short, funny, edgy and all too close to home for any of us who have ever called home someplace a little less than luxe.  So it must be true that as we begin 2017, for every call I field where a prospective home buyer will say, "Well, I had a short sale a few years ago..." there are probably a hidden, greater number of those who, for whatever reason, just don't call.  And by all means, … (23 comments)

california: The Wisdom of the Mountains - 12/28/16 07:06 AM
The Wisdom of the Mountains
 
My wife and I recently went for a beautiful winter hike in Squaw Valley, CA, and I'm not quite sure if it was the quiet fresh snow, the freezing waterfalls in the canyon creek, or the granite cliffs framed by cerulean sky that brought to mind the many experiences I had in some of the world's high ranges years ago when I was an aspiring alpinist.  Though we come here at this time of year to relax, reflect and plan for the year ahead, I could not help but notice how the wisdom of the mountains translates … (3 comments)

 
Rob Spinosa, Executive Loan Advisor, Marin Mortgage Pro (RPM Mortgage, Marin County, CA) Rainmaker large

Rob Spinosa

Executive Loan Advisor, Marin Mortgage Pro

Mill Valley, CA

More about me…

RPM Mortgage, Marin County, CA

Address: 1058 Redwood Highway, Frontage Road, Mill Valley, CA, 94941

Office: (415) 367-5959

Mobile: (415) 367-5959

Email Me

REX Homebuyer Participating Lender 80-10-10 Loans What Happens if My Appraisal Comes in Low? Can I Get a Cosigner on a Mortgage?


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