ukiahmortgage: Why Don't They Buy?Maybe Mortgage Coach Can Help? - 08/26/16 09:41 AM
Got buyers who are reluctant to actually pull the trigger and buy a house? Is your lender providing solutions using a mortgage presentation program? If they are not, then perhaps another lender should be consulted? 
Some buyers needs to be shown that with every mortgage payment they make, they are actually paying down the principal of the mortgage loan which is like putting money away each month in a saving account. When you also show them how much of their monthly payment is a tax deduction based on whatever tax bracket they are in and then you show them that based on a … (0 comments)

ukiahmortgage: The Time Is Now! - 08/18/16 02:00 AM


ukiahmortgage: Assets, a major component of a mortgage loan! - 07/14/16 01:56 AM


ukiahmortgage: Interest Rates Are Not The Same For Everyone - 04/28/16 03:05 AM
Like every other mortgage lender, i get this typical phone call: "what is your interest rate?" What consumers do not understand, is that Interest Rates Are Not The Same For Everyone!
There are like 30 data points that go into quoting an interest rate. In order for me to be able to configure a monthly payment, which is really what the consumer cares about, i must take a complete loan application and run a credit report and do an interview of the consumer. 
What they also don't understand is that "The lowest rate, isn't necessarily the best loan program for the consumer" That ought to get a … (2 comments)

ukiahmortgage: Are You Pre-Qualified? - 03/14/16 01:50 AM
Spring is almost here and it is one of the busiest times of the year in the real estate markets. As a potential home buyer, one of the first questions a good real estate agent will ask you is:
"have you met with a lender? AND, what have you been pre-qualfied to purchase?"
Showing property you cannot afford to purchase isnt going to be helpful in your agent helping you achieve your dream. It is easy to know what you can afford. There are many good lenders who can, in a matter of 20 minutes, review your credit and income and tell you … (0 comments)

ukiahmortgage: GSFA Grant Program for California - 02/16/16 05:29 AM
Looking for a down payment assistance program that gives free money? The Golden State Finance Agency offers grants (it does not have to be paid back) for use for down payment. Grant amounts can range from 3%-5% of the sales price of the loan and interest rate will depend on the grant amount plus credit score. 
Today, February 16th, 2016, rates for a 4% grant with a 660+ credit score is 4.125% on an FHA loan. Assuming that FHA requires a 3.5% down payment, one could have their entire down payment requirement handled with the GSFA grant. 
In #Ukiah, California, it is very … (0 comments)

ukiahmortgage: Taking Care of Ourselves - 02/01/16 01:43 AM
It's hard to be a rock star real estate agent or mortgage originator, if one is not taking care of themselves. This means, at least to me, physically, mentally, emotionally and spiritually. If any of these are out of balance, then i find it very hard to focus 100% on the business in front of me.
As hard as I work on marketing, sales, relationsip building, etc., i also work on taking care of body and my soul!
When i go to the gym, or a bike ride or a hike, when i help someone else out, when i deal with the issues … (3 comments)

ukiahmortgage: 2016 A Banner Year? - 11/19/15 12:18 AM
Thanksgiving 2015 is approaching,  and i am noticing that there is steady buyer activity.  I find this interesting since we are approaching the holiday time of the year where things are busy but most of that busyness is getting existing contracts closed!
What I am seeing is plenty of buyers willing to look for a home and write contracts. I am finding myself doing pre-approvals, writing pre-approval letters for new contracts and seeing new deals go into escrow. Could this mean that 2016 is finally going to be that "banner year" for our industry? Things have been just fine, but in my area, Ukiah, California, in … (0 comments)

ukiahmortgage: My Database and My Relationship To It - 11/16/15 12:57 AM
Thanks Tom Ferry for reminding me, again, what I already know I am not doing. Working my past clients in a way that creates a relationship for life! I also like what Todd Duncan has to say about this
"Want a client for life? You have to talk to them during their lifetime"! 
So why dont i? Nothing to say? Embarrased its been years? Yes, thats all true! However, these clients are all people I have done business with in the past and they will eventually have another need for a mortgage loan. If not me, it will be somebody else. 
I am "chunking … (0 comments)

ukiahmortgage: Do you know your numbers? - 11/12/15 12:20 AM
Do You Know how many transactions you want to close in 2016? Do You Know what's your conversion ratio is? Do You Know how many leads  you need to generate? Do You Know what is your hourly earnings? Do You Know? 
In order to get to where you want to go, you need to have a plan of action. Are you working enough lead generation sources in order to generate enough prospects? Are you time blocking and allowing time to get it done? Are you delegating what you can to somebody who makes less than you do per hour? 
This is all very simple stuff but, … (0 comments)

ukiahmortgage: 2016 Just Around The Corner - 11/03/15 12:13 AM
Now that it's November, i start thinking about the past year. Did I hit my goals? What worked and what did not work? What will i do differently in 2016? 
I am starting to work on my business plan and what I am discovering that in order for me to hit  my goal for 2016, i will need to put together a team. There is just no way I can do everything myself. I must be able to do what I am good at, or enjoy, and that is talking to people and working on deepening relationships. Spending time updating documentation is … (0 comments)

ukiahmortgage: Is Saving $17 Per Month Worth Taking A Risk? - 10/12/15 02:31 AM
Is Saving $17 Per Month Worth Taking A Risk? That's the title to this blog and refers to borrowers who disregard a realtors referred lender of choice, all in saving 1/8 to the rate. Yep, on a $250,000 loan amount (the average loan size for Ukiah, CA. in Mendocino County, CA.)  the difference between 3.875% and 4% is $17 per month. I spend more on coffee at my favorite coffee place on a weekly basis, but yet many a home buyer will risk their home buying process to somebody they meet online, and never will meet in person and most likely … (0 comments)

ukiahmortgage: Create Wealth with Real Estate - 10/06/15 03:09 AM
Those of you who need a reason why buying real estate is a good idea need only look at the slide provided by Keeping Matters Current that explains wealth creation:Assuming appreciation in the range of 3-4%, this is a no brainer on why a renter should really be looking to purchase a home! Of course, maybe not all areas in the USA are experiencing growth?
In Northern California, Petaluma, CA. and Ukiah, CA, two places I actually prospect for mortgage loans, we have an inventory problem that we have had for a few years now. Thus, real estate has actually appreciated a a … (0 comments)

ukiahmortgage: Downsize Your Home with a Reverse Mortgage - 10/01/15 07:36 AM
When thinking about retirement, does it make sense to downsize and use all of the equity from the big home to have no mortgage on the little home? Those are thoughts I think about even though retirement is some time off. The other option I have is to buy the little home with a Reverse mortgage loan. This requires a minimum down payment of 50% of the sales price. If your not familiar with a Reverse mortgage purchase loan, there are no payments on this type of mortgage. This allows me to buy the home, with no payments but also not … (0 comments)

ukiahmortgage: Low Rates A Future Harm To Our Industry? - 08/18/14 01:55 AM
Are low interest rates setting up the real estate market for a future slow down of sales? What will happen when rates are in the 5% range after the appreciation of real estate prices over the last few years? Are we pricing out the "move up buyer"? The borrowers that have ratess in the 3's are going to have a hard time parting with that low mortgage rate.
I have a client now with a 3.25% rate on their mortgage rate and, because the bought two years ago, now have equity in their property. They would like to cash out some … (3 comments)

Rick Costa, FHA/VA/USDA expert (Primary Residential Mortgage Inc. NMLS 3094)

Rick Costa

FHA/VA/USDA expert

Ukiah, CA

More about me…

Primary Residential Mortgage Inc. NMLS 3094

Address: 704 East Perkins Street STE E, Ukiah, CA, 95482

Mobile: (707) 529-3374



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