Real estate blog entries tagged with home equity by Rob Spinosa, Mortgage Loan Originator, Marin County (US Bank)

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home equity: How to Rock a Low House Appraisal Value!!! - 10/24/22 09:07 PM

How to Rock a Low House Appraisal Value!!!

You found the perfect home...

And the seller accepted your offer...

And your mortgage application is underway...

Until your appraisal comes in low. What now???

Never mind all the bad advice that swirls around this dilemma. There are a handful of effective ways to deal with an appraisal value that comes in under your offer price, so if you find yourself in this stressful situation today, get in touch. Or perhaps you're a Realtor or buyer looking to better understand all of the tactics and tips that you can use to negotiate a low appraisal in today's challenging … (9 comments)

home equity: Should I Get a HELOC? - 07/01/19 07:50 AM

Should I Get a HELOC?

Thankfully, many of our clients are happy with their mortgages. The interest rate, the terms, the peace of mind --- all are satisfactory and there's no motivation to change or refinance. But what happens if there's a need to use the equity in the home to finance a remodeling project, a large purchase or to just have a "safety net?" A home equity line of credit or "HELOC" can be used to meet these purposes, but should you get a HELOC and, if so, how do they work?

What Is a HELOC?
A home equity line of credit, or … (11 comments)

home equity: A Primer on Prime Rate - 08/28/17 08:22 PM

A Primer on Prime Rate

When we hear talk of the Federal Open Market Committee (FOMC) adjusting interest rates, there is one index in the mortgage environment that we know will be impacted, even when 30-year fixed rate loans may not see any change to their pricing. This rate is known as Prime Rate and it is the index that is used for most home equity lines of credit, or HELOCs.

If you have a HELOC on your property then it very likely will use Prime to set its base rate, with the addition or subtraction of a margin. Prime Rate itself currently … (1 comments)

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