financing: What Is a Debt Service Coverage Ratio Mortgage? - 06/04/19 07:50 AM
What Is a Debt Service Coverage Ratio Mortgage?
Real estate investors have long turned to private money loans when conventional mortgage lenders have determined that either they, with their multiple property holdings, or the properties they are looking to buy, pose too great a risk.  But for its benefits of closing quickly and not involving an intrusive qualifying process based on ability-to-repay (ATR), hard money loans are expensive and most often have terms that require the investor to refinance or pay off the loan in the short term --- not an ideal fit for those who own, or are building, a portfolio … (1 comments)

financing: Lock Watch for the Week of 5/21/2018 - 05/20/18 07:50 AM
Lock Watch for the Week of 5/21/2018
"The beatings will continue until morale improves."
Economicalendar (all times are Pacific):
Mon, 5/21:       Quiet. 
Tues, 5/22:       Richmond Fed Mfg Index (7am).  2-Yr Note Auction (10am). 
Weds, 5/23:     PMI Composite Flash (6:45am) and New Home Sales (7am).  5-Yr Note Auction (10am).  FOMC Minutes (11am).
Thurs, 5/24:    Jobless Claims and Existing Home Sales (7am).  7-Yr Note Auction (10am).   
Fri, 5/25:        Durable Goods (5:30am) and Consumer Sentiment (7am).
10-Year Treasury History
3.07%     Today
2.99%     One Week Ago
2.96%     One Month Ago
2.25%     One Year Ago
Pop culture can be especially cruel in retrospect, and I think … (0 comments)

financing: Lock Watch for the Week of 4/30/2018 - 04/28/18 06:55 PM
Lock Watch for the Week of 4/30/2018
Very high.  Really big week with a lot of reports and a Fed announcement (though no change to rates expected).
Economicalendar (all times are Pacific):
Mon, 4/30:       Personal Income and Outlays (5:30am), Chicago PMI (6:45am). 
Tues, 5/1:       PMI Mfg Index (6:45am) and ISM Mfg Index (7am).
Weds, 5/2:     ADP Employment (5:15am).  FOMC Meeting Announcement (11am). 
Thurs, 5/3:    International Trade and Jobless Claims (5:30am).  Factory Orders and ISM Non-Mfg Index (10am). 
Fri, 5/4:        Employment Situation (5:30am).
10-Year Treasury History
2.95%     Today
2.98%     One Week Ago
2.74%     One Month Ago
2.33%     One Year Ago
The Cat's in the Cradle
I grew … (3 comments)

financing: Calling Up Your Asset Reserves - 04/11/18 07:12 AM
Calling Up Your Asset Reserves
Whether or not you believe that the United States presently has a "border crisis," I'm sure most of us take comfort in the fact that our country can rely on its reservists to step in where and when needed and lend additional support to our nation's active military.  And it's not too much unlike this in the lending industry when a borrower seeks to obtain some kinds of mortgages --- especially jumbo loans, which have amounts that exceeds the conforming loan limits in any area.
The active military of any loan qualification, in our example above, would be the … (7 comments)

financing: Unlocking the Rate Lock Mystery - 06/27/17 08:07 AM
Unlocking the Rate Lock Mystery
Everyone who has financed a home with a mortgage, either for a purchase or refinance, has probably struggled at some point during that transaction with the dilemma of locking or floating the interest rate.  This critical decision does one of two things:
Commits both the borrower and the lender to a specific interest rate for a set period of time.  This “for better/for worse” proposition means that if rates move up or down, the commitment cannot be broken.  This action is known as “locking” a rate. Leaves the interest rate open to future market fluctuation, again for … (28 comments)

financing: Finding Harmony in Unison - 03/15/17 09:42 PM
Finding Harmony in Unison
Ever since the woebegone days of Greenpoint Mortgage's 400+ page rate sheet (and those who remember are laughing right now...) we in the mortgage lending industry have become accustomed to recognizing that not every borrower and not every scenario will fit exactly in the credit box.  That's just been a reality of the post-Dodd-Frank era.  Lending solutions rarely "check all the boxes" and I hear myself reminding clients, not infrequently, to "not let the perfect be the enemy of the good."  
So you can imagine that when we start talking about jumbo loans and lower down payments AND … (3 comments)

financing: 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)

financing: Non-Warrantable Condo Financing - 03/20/16 05:44 AM
 Non-Warrantable Condo Financing
The caps of our graduating class had barely wafted to the floor of the high school gymnasium when I packed up the old family car with my guitars, amps and all the naiveté a Midwestern teenager could muster and headed west to the glam metal capital of the world, Hollywood, CA.  Years later, people still ask me, “What was the name of your band?” or “So how did you end up in the San Francisco Bay Area?” or the most laughably absurd, “Did you go to UCLA on a literary scholarship?”
Well, I’m going to have to leave the arena … (17 comments)

financing: How Will 2014 Go Down in YOUR Books? - 12/30/14 11:10 PM
How Will 2014 Go Down in YOUR Books?
When we come to the end of any calendar year, isn't it amazing to look back over the last 12 months and realize just how much has transpired?  Sometimes, events that occurred in, say, March, feel like they happened a lifetime ago.  Could it really be that it was this year?  Yes, time flies.
And, of course, the resolution season is upon us.  What changes might we affect in 2015 by way of reinvigorated will?  A blank page opens before us each January 1, but will we have the resolve to write a new … (4 comments)

financing: Do You Think We're in a Bubble? - 09/11/14 11:31 PM
Do You Think We're in a Bubble?
Forgive me.  While I may be one of Marin County's most recommended mortgage lenders, I am still only on the lowly home finance side of things.  I'm not in the real estate purchase and sale trenches like most of the members on Active Rain and, presumably, I'm therefore not taking the brunt of this blog title's sentiment head on.  Since I am hearing the question from my pre-approved buyers so frequently, I know that San Francisco Bay Area real estate agents must also be confronted with the "Do you think we're in a bubble?" concern.  I thought … (2 comments)

financing: 169 Spencer Ave., Sausalito, CA, 94965 w/ REX 10% Down Payment Option - 07/13/14 02:07 PM
169 Spencer Ave., Sausalito, CA, 94965 w/ REX 10% Down Payment Option
Using RPM Mortgage and REX Homebuyer, this home can be financed today as:
Purchase Price:  $1,599,000
REX Down Payment:  $159,900
Your Down Payment:  $189,100
Monthly P&I Payment:  $5440

Here are the terms for the scenario above:
Loan Amount:  $1,250,000
Loan Program:  7/1 ARM*
Interest Rate / APR:  3.250% / 3.152%
How can we help?
Property Info:  Sherrie Faber, 415-339-9200,
Mortgage Pre-Approval:  Rob Spinosa, 415-367-5959,
*Rates will only apply for the initial period.  The initial period for this program above is seven years.  The payment on … (0 comments)

financing: Financing Multiple Properties - 01/14/14 02:24 AM

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financing: What Happens If My Appraisal Comes In Low? - 12/03/13 08:36 AM

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Rob Spinosa, Vice President of Mortgage Lending, Marin County (Guaranteed Rate, Marin County, CA) Rainmaker large

Rob Spinosa

Vice President of Mortgage Lending, Marin County

San Anselmo, CA

More about me…

Guaranteed Rate, Marin County, CA

Address: 324 Sir Francis Drake Blvd., San Anselmo, CA, 94960

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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