home loan: How to Rock the 2023 Conforming Loan Limits!!! - 12/01/22 08:46 AM
How to Rock the 2023 Conforming Loan Limits!!!
  
I ain't foolin'!
 
Even though there's been a whole lotta interest rate hikes in 2022.  And even though there's been a whole lotta rumbling about home values declining in some areas, the FHFA will again be increasing the conforming loan limits into 2023.
 
This means that where the one-unit conforming limit was $647,200 in 2022, it will become $726,200 in 2023.
 
And in high-cost (aka high balance) metropolitan statistical areas like much of CA, NY and other housing-expensive counties, you may see the conforming limit go from $970,800 all the way up to $1,089,300.
 
Note that FHA and … (2 comments)

home loan: The 10 American Indian Commandments - 11/26/22 09:27 AM
The 10 American Indian Commandments
  
This Thanksgiving weekend, while we enjoyed time with family, gave thanks for our great fortune as Americans and even let our 4th grader relay to us what he'd learned about the origin of the holiday itself, I did also manage to find a few minutes to do some housekeeping on the many images stored on my phone.  
 
One that stood out and stopped me in my tracks was a poster of the Indian Ten Commandments, which I had snapped on a stopover in Lee Vining, CA, several years ago.  Lee Vining is a small town (graduating high school … (10 comments)

home loan: 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 loan: How to Rock an FHA Home Loan!!! - 10/06/22 08:16 AM
How to Rock an FHA Home Loan!!!
  
Are FHA loans just for first time home buyers?  
 
Is an FHA mortgage the best choice if you have bad credit?
 
What if you have a low down payment, or even no down payment from your own savings?
 
If you're ready to quit renting right here and right now, let's learn how to rock an FHA home loan:
 
 
Watching the world wake up,
 
 
Rob Spinosa
SVP of Mortgage Lending
Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 
rob.spinosa@rate.com
 
Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960 
*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved … (9 comments)

home loan: How to Rock Shopping for Mortgage Rates!!! - 09/22/22 07:59 AM
How to Rock Shopping for Mortgage Rates!!!
  
Have a rate quote but want to see if another lender, banker or broker can "beat it?"
 
Concerned that the Fed will keep hiking rates and trying to decide whether to lock your rate today?
 
Mortgage rate shopping doesn't need to be stressful if you follow these simple tips from an industry pro:
No one wants to be defeated,
 
 
Rob Spinosa
SVP of Mortgage Lending
Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 
rob.spinosa@rate.com
 
Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960 
*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do … (2 comments)

home loan: How to Rock a Housing Recession!!! - 09/08/22 01:18 PM
How to Rock a Housing Recession!!!
  
Is now a good time to buy a house?
 
Are we headed into another housing recession?
 
What happens if mortgage rates keep going up?
 
Should I just keep renting while we wait to see what happens with the economy?
 
Since these have been the predominant questions on our clients' minds, I thought I would take a step back to the basics and look at how to make the best decisions possible in uncertain times.
 
Are the lights going down on the real estate market?  Let's take a look...
And the sun shines on the bay,
 
 
Rob Spinosa
SVP of Mortgage Lending
Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 
rob.spinosa@rate.com
 
Marin … (5 comments)

home loan: How to Rock Adding a Co-Signer on a Mortgage!!! - 08/25/22 08:17 AM
How to Rock Adding a Co-Signer on a Mortgage!!!
  
When your fantasy of owning a home meets the reality of qualifying mortgage, it can sometimes mean that you'll need a little help.  And in more than a few of those cases, the most elegant solution can be a co-signer, technically known as a "non-occupant co-borrower" within the mortgage industry.
 
So, who makes a good co-signer and who's just "bad company?" Let's learn how co-signers can impact, both good and bad, the three most critical elements of any loan approval; income, assets and credit.
 
I won't deny it,
 
 
Rob Spinosa
SVP of Mortgage Lending
Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 
rob.spinosa@rate.com
 
Marin … (10 comments)

home loan: How to Buy a New Home Before Selling Your Current One!!! - 08/04/22 09:09 PM
How to Buy a New Home Before Selling Your Current One!!!
  
Living in a "crowded house" but can't find a way to buy that perfect new home before selling your existing one?  Don't dream it's over! There are mortgage programs that are specifically created to allow you to use proposed rental income from your existing home --- also known as a "departing residence" in this case --- to help with your mortgage qualification.  After all, most Americans are working hard enough to afford one mortgage payment, let alone two.
 
If you've been told that you don't qualify for a new home until you … (3 comments)

home loan: How to Rock a 10% Down Payment!!! - 07/14/22 12:17 PM
How to Rock a 10% Down Payment!!!
  
 
Why go home to your grungy apartment when you can buy your first home instead?  Oh, what's that?  Haven't saved the full 20% down payment?  Live in a part of the country where home prices and loan sizes easily outpace the capacity of conforming, FHA and even VA loans?
 
Let's learn how to rock the best of the 10% down jumbo mortgage options, some without PMI, and jam on why with a changing real estate market, you may be in luck with half the down payment you thought it might otherwise take. 
Jeremy's spoken,
 
 
Rob Spinosa
SVP of Mortgage … (3 comments)

home loan: How to Rock a Mortgage Pre-Approval!!! - 06/23/22 07:37 AM
How to Rock a Mortgage Pre-Approval!!!
  
 
Buying your first home is a daunting task and can be a huge undertaking for the first-time buyer.  Shoot, even for a move-up buyer, the experienced downsizer or a seasoned investor, it can sometimes be difficult to know where to begin.  But getting a mortgage pre-approval often remains the best first step in the process, and it's also a likely reality that your Realtor won't seriously consider showing you property until you are either pre-approved or pre-underwritten by a mortgage lender or broker.  After all, it's really tough to know your purchase power and your budget … (3 comments)

home loan: How to Rock Rising Mortgage Rates!!! - 06/09/22 08:34 AM
How to Rock Rising Mortgage Rates!!!
  
 
No doubt about it, since 2022 got underway, mortgage rates have been on a stairway higher and that makes it harder for our buyers to qualify for a mortgage on one hand and even when they do qualify, it puts additional strain on their household budget on the other.
 
So how can buyers and owners keep their rate and payment as low as possible despite rising interest rates?  In this short video, I cover three classic ways to "fight the Fed:"
 
Paying discount points. Choosing an ARM over a fixed rate loan. Considering an interest-only mortgage program. … (9 comments)

home loan: How to Rock Second Home or Rental Property? - 05/19/22 11:55 AM
How to Rock Second Home or Rental Property?
  
 
Mortgage guidelines are positively prehistoric when compared to newer companies like AirBnB and VRBO, which have gained popularity as interest in short-term rentals has increased.
 
But when it comes to getting a home loan on a property that is not your primary residence, you have to state on your mortgage application whether you have a second (or vacation) home or you have a rental (aka investment) property, and there is no middle ground for a "vacation rental."  However, there can be real consequences if you get the classification wrong.  
 
So, let's rock the distinction between vacation … (11 comments)

home loan: How to Rock a Bridge Loan - 04/21/22 08:07 AM
How to Rock a Bridge Loan
  
 
If you've been lamenting how tough it is to get your offer to buy a home accepted these days, think about how much more difficult it is for those who must buy a new home BEFORE selling their existing one.  After all, it's practically impossible to make a contingent offer --- defined as one that would allow you to sell your existing home first.
 
It's usually in this stressful environment that someone well-meaning; a friend, a co-worker, even a Realtor, will swoop in and advise our buyer to "Just get a bridge loan!," as if there is … (6 comments)

home loan: How to Rock Cannabis Income on a Mortgage Application - 04/05/22 09:12 PM
How to Rock Cannabis Income on a Mortgage Application
  
 
Fifty years ago, when the Doobie Brothers were flying high and the folks in China Grove were rising for another day, it would have been hard to imagine that marijuana would eventually be legal in some states.  But, not legal in all states and not legal at the Federal level and that means those who work in the marijuana and cannabis industries can see their mortgage opportunities go up in smoke if not aligned with a lender who knows which programs and investors can navigate this relatively new industry.
 
So let's take it to … (4 comments)

home loan: How to Rock a Mortgage Application Without Hurting Your FICO Score - 03/24/22 07:48 AM
How to Rock a Mortgage Application Without Hurting Your FICO Score
  
 
"What's your rate?"
 
"How much will I qualify for?"
 
"Are you a banker or a broker or a lender?"
 
Nope, nope and nope.  None of these are the #1 question we get before a prospective borrower makes an application for a pre-approval.  So what is the most asked question?
 
"Will making a mortgage application hurt my FICO score?"
 
Yep, that's it.  That's the one that keeps some otherwise strong and qualifiable buyers on the sidelines and paralyzed by the irrational fear that simply by having a lender make a hard credit inquiry, and access their Equifax, … (6 comments)

home loan: How to Rock Cryptocurrency As Your Down Payment - 03/10/22 08:03 AM
How to Rock Cryptocurrency As Your Down Payment
  
 
The mere mention of the words "bitcoin" or "cryptocurrency" or "blockchain" is sure to evoke comments and reactions that will be far-reaching.  There will be the speculators who rolled the dice and came up winners, or who are still white-knuckling their wild ride.  There will be financial technicians who have been forced to grasp how this technology has the potential to disrupt the exchange of currency as we know it.  But more than the reactions of either of these two subsets, you'll encounter the expressions of the mostly and mildly bewildered.  Because really, when … (3 comments)

home loan: Five Tips to Rock Home Buying in 2022 - 02/24/22 08:00 AM
Five Tips for Rocking Home Ownership in 2022
  
 
If you searched unsuccessfully for a home and suffered one heartbreak after another in 2021, 2022 hasn't necessarily greeted you with open arms either.  Near non-existent inventory in many areas, fierce competition and rising interest rates have all conspired to make the landscape rockier still.
 
Despite this, I've found five tips can be a universal help in getting you into contract, regardless of your own individual circumstances.  Rock them with me on Youtube:
 
 
Ready to find Paradise City?  Please give me a like or subscribe on YouTube!
 
 
Welcome to the jungle,
 
 
Rob Spinosa
SVP of Mortgage Lending
Guaranteed Rate
NMLS: 22343 
Cell/Text: … (3 comments)

home loan: Divorce Buyout Refinancing Explained - 02/17/22 07:38 AM
Divorce Buyout Refinancing Explained
  
 
It's a sobering fact that nearly 50% of married couples will decide to go their separate ways each year. But what happens when there's jointly owned real estate involved? And what if that home has a mortgage on it as well? What's the process for one spouse "buying out" the other and how can any couple best plan for this division?
 
Obviously, a marital separation is stressful enough.  The short video below aims to make it a little less so, at least when it comes to understanding the home loan options.  Oh, and we rock some Frontiers-era Journey while … (9 comments)

home loan: Is a No Cost Refinance a Free Ride? - 02/10/22 07:33 AM
Is a No Cost Refinance a Free Ride?
  
 
Back in the '70's, Edgar Winter extolled the virtues of taking a free ride.  But since that time and especially when it comes to transactions in the financial world, most of us have been conditioned to know that nothing's ever free.
 
So how does this square with the concept of a "no cost" refinance?  We hear about these all the time and our clients ask for them.  How does the no-cost strategy work and can it offer real benefit in the right situation?  We cover all these timeless questions in this short, fun, rockin' video:
 
 
Decided … (1 comments)

home loan: HELOC or Cash Out Refinance? - 02/03/22 07:52 AM
HELOC or Cash Out Refinance?
  
 
As a teenager in the '80's, our dilemmas were a little simpler --- should I stay or should I go? --- for instance.  But today's homeowner faces some additional complexities, especially when it comes to deciding the best way to finance a home renovation or other large purchase.
 
Using the equity in one's home has always been an enticing way to cost-effectively confront large-ticket expenses, but what's the best way to convert that equity into cash?  Should you get a home equity line of credit (a "HELOC") or should you do a cash-out refinance?  We get this question … (5 comments)

 
Rob Spinosa, SVP of Mortgage Lending, Marin County (Guaranteed Rate, Marin County, CA)

Rob Spinosa

SVP 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?



Listings

Links

Archives

RSS 2.0 Feed for this blog