investor: Investment Property Jumbo Mortgage with Low Down Payment - 07/07/19 09:22 AM
Investment Property Jumbo Mortgage with Low Down Payment
 
Since I'm in California, and property values where I live and work tend to be on the, shall we say, higher side, residential real estate investors --- those looking to purchase a home of 1- to 4-units to be used as an income-producing property --- can sometimes be limited in their attractive jumbo mortgage options.  This is especially true if they are looking to keep their down payment as low as possible.  Many potential rental property buyers are told flat out that even a 20% down payment is California dreamin', and that a jumbo … (0 comments)

investor: 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)

investor: Closing in the Name Of - 01/21/19 12:54 PM
Closing in the Name Of
 
There will be no profanity in this post, just in case you get the cultural reference in the title.  I won't even repeatedly scream at you.  Instead we're going to cover a topic that sidesteps injustice, drama or even frequent occurrence, but it deals with a scenario that comes up occasionally and when it does, there is quite a bit we should know before taking action.  So let's talk about closing a residential real estate transaction in the name of an LLC or other business entity, like a partnership or a corporation.  Can you do that?  What's … (23 comments)

investor: Let's Get Small Condo Projects - 10/31/18 07:21 AM
Let's Get Small Condo Projects
 
San Francisco is known for its majestic Victorian and Edwardian homes, and residents and homebuyers in the city know that sometimes these massive dwellings get converted into condominiums.  Not one's traditional idea of a condo project, what was once a majestic single family home is metamorphosed into a multi-level condominium project with three separate living units, for example.  But small condo projects, typically defined as two to four units, can also be other than a colorful structure in the City by the Bay.  In fact, we encounter them throughout California.  
 
Financing a condominium unit in a small project … (6 comments)

investor: Ch, Ch, Ch, Changes to C, C, C, Condos - 06/10/18 04:14 PM
Ch, Ch, Ch, Changes to C, C, C, Condos
 
At various times over the last 10 years, getting a mortgage on a condominium in California could have been quite the challenge for a homebuyer.  However, some changes that will go into effect at the end of June, 2018, will reflect Fannie Mae's (FNMA) increased flexibility and sensibility with lending on condo, co-op and planned unit development (PUD) projects.  We're going to focus here just on the condo part and explain the key elements that should make it a bit easier for some buyers in the months ahead.
 
Single-Entity Ownership
Single-entity ownership poses a risk … (22 comments)

investor: Interest-Only? 40 Years? Fixed? Extra Extra? - 07/27/17 07:35 AM
Interest-Only? 40 Years? Fixed? Extra Extra?
 
Are you a real estate investor?
 
Do you consider yourself an ordinary or extraordinary investor?
 
Have you ever thought about an interest-only loan for your rental property?
I'd be willing to bet that even if the ordinary investor learned of a 40-year fixed interest-only loan, he might initially think right back to the heyday of stated income loans and remind himself that there's no way he'd ever get involved in such risky business.  Rest assured that this person doesn't need to change his philosophy.  That's not what I'm going to cover here.  But I am going to discuss the … (16 comments)

investor: How to Not Get Burned When Financing a Flip - 02/20/17 10:03 AM
How to Not Get Burned When Financing a Flip
 
"If you can't stand the heat, get out of the kitchen."  Well, when buying a home, sometimes the heat permeates not only the kitchen but the entire joint because the home is considered a "flip."  You mean like the proverbial burger flip?  No, I'm talking about a flipped property.
 
A flip is a home that was recently sold to the current owner and quickly put back on the market.  Just how short a span of ownership can be a matter of debate but we're going to limit the scope of our discussion to a time period of less than six … (3 comments)

investor: Financing Multiple Properties - 01/14/14 02:24 AM
 
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investor: Weekend Availability + Good News for Cash Buyers - 07/22/11 07:31 AM
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investor: Homepath Mortgage - 03/21/11 11:06 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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