jumbo: How to Rock an Interest-Only Mortgage! - 08/30/23 06:06 PM
How to Rock an Interest-Only Mortgage!
Interest-only mortgages are not just for luxury homebuyers with jumbo-sized home loans anymore!  And while we do see the buyers and owners of higher-priced real estate favoring interest only loans because of their lower payments, have you ever wondered why everyone doesn't consider this mortgage program?
Is it due to the fact that most interest-only loans are ARM mortgages, like the 7/1 or 10/1 ARM?
Or is it simply due to homeowner psychology?  After all, there is a large number of homeowners who just can't stand looking at their mortgage statements month after month and NOT seeing their … (2 comments)

jumbo: Is a Bank Statement Mortgage Right for You? - 03/15/23 08:29 AM
Is a Bank Statement Mortgage Right for You?
Let's face it, it can be VERY difficult for the self-employed to get some shelter when seeking the best mortgage.  Why?  Because they face a tough choice every year around tax time:
File the maximum allowable deductions and reduce taxable income as much as possible in order to pay less in taxes.
File with fewer deductions, maximize income and appear strongest in the eyes of a potential mortgage lender.
In reality, balancing these two is nearly impossible for most business owners and the lending industry recognizes that.  In response, the self-employed can sometimes use a bank statement … (2 comments)

jumbo: 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 … (5 comments)

jumbo: 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)

jumbo: 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 … (6 comments)

jumbo: 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 … (4 comments)

jumbo: Refinancing a Jumbo Mortgage After a COVID Forbearance - 08/09/21 07:56 AM
Refinancing a Jumbo Mortgage After a COVID Forbearance
Despite some recent setbacks that see COVID cases increasing, many of us are optimistic that vaccination rates will continue to go up and all of America will eventually commit to getting the worst of the virus behind us once and for all. There is no doubt that as we headed into the summer, we could feel the economy coming back on line and the country getting back to work. Sure the recovery has been uneven, but compared to the uniform bleakness of last summer, there could only be reason for hope this time around.
Not … (6 comments)

jumbo: Can I Get a Jumbo Mortgage with an H-1B Visa? - 07/03/21 08:38 AM
Can I Get a Jumbo Mortgage with an H-1B Visa?
Right now, immigration is a hot topic in the United States.  Also right now, real estate is a hot market in the United States.  And also right now, at the intersection of these two, I field a lot of questions from those with H-1B visas who are looking to get a jumbo mortgage in order to buy or refinance a home.  Here are the three most common:
"Can I get a jumbo mortgage if I am on an H-1B visa?" "What are the requirements for getting a jumbo mortgage if I am … (2 comments)

jumbo: Asian American Support Goes Viral - 03/18/21 09:47 PM
Asian American Support Goes Viral
Often, getting the first words down are the hardest. "Writer's block."  But not this time. 
So let me start by condemning the recent incident of gun violence against Asian Americans in Atlanta.  Let me take the opportunity to communicate to all Americans of all races that discrimination, in all forms, is wrong and will not be tolerated.  Not in my business, not in my community, not in the private confines of my home.  
Specifically with violence against Asian Americans, statistics show an increase in verbal and physical assaults since the onset of COVID-19. So the next time you get … (5 comments)

jumbo: It's Cool to Conform in 2021 - 11/29/20 09:13 AM
It's Cool to Conform in 2021
If you know me, you know that I don't like to stick to convention.  I was the teenager who skipped college, moved to Hollywood and played rock guitar.  In my 20's, I saved up vacation time not for sandy white beaches but instead for expeditions to the harsh mountain environs of the world's highest peaks.  In my 30's, I dove (literally) into the sport of triathlon --- an endeavor, to quote my Aunt Marge, that would be something she'd "rather die a thousand deaths" before contemplating.  When I come to the fork in the road where straight and … (5 comments)

jumbo: What Are Credit Tradelines? - 09/27/20 09:12 AM
What Are Credit Tradelines?
I think I've made it clear before that I find no shame in talking about how hard we work for our clients. My assistant, Jamie, and I see a good number of mortgage applications come across our desks every week and in 2019 and 2020, a high percentage of them have been for jumbo home loans, which means that our borrowers must demonstrate strong credit depth by way of an adequate number of tradelines on their credit report. Gone are the days when one could just have a decent FICO score in order to cross credit concerns off of the loan approval list.
When … (12 comments)

jumbo: Your Pandemic Guide to a Jumbo Mortgage - 05/23/20 08:17 AM
Your Pandemic Guide to a Jumbo Mortgage
"Our Realtor said it's very difficult to get a jumbo loan these days."
"We tried to do a cash out jumbo refi on our place but our bank told us that they're not doing those anymore."
"We wanted to refinance our jumbo loan but by the time we did the research the rates weren't any lower than what we have already."
"Is it possible to refinance a jumbo loan without having to move our savings and investments to the bank who's making the mortgage?"
"We have a 20% down payment and are looking to buy a house that requires … (5 comments)

jumbo: N/O/O: Jumbo Mortgage's Scarlet Letters - 05/02/20 07:59 AM
N/O/O:  Jumbo Mortgage's Scarlet Letters 
May 1, 2020
Day 46 of Shelter-in-Place
If you are a real estate investor at this time, in this market and looking for a jumbo mortgage to buy a non-owner occupied home (N/O/O), you may feel like our industry sees you with a scarlet letter(s) on your chest.  Before the pandemic, everybody wanted to talk to you, but now...now, you cannot find a mortgage lender to make you a jumbo loan.  Many of the options that existed before are gone.  The ones that remain have been restricted, their guidelines whittled down to the ultra-conservative.  Each day, you struggle to … (1 comments)

jumbo: I'm Refi The Cash Out Man - 04/10/20 08:38 AM
I'm Refi The Cash Out Man
Sing to the tune of Popeye the Sailor Man:
I'm Refi the Cash Out Man.  You're lookin' for cash in hand.
Your house is worth plenty, you can access them pennies,
So cash out?  Indeed you can.
We're in a pandemic, you hear jumbo lenders
won't refi your equity spare.
But that ain't the truth and I'll show you the proof
if you've managed your money affairs.
I'm Refi the Cash Out Man.  You're lookin' for cash in hand.
If you still got a job and your credit's the bomb,
If the mortgage makes sense then get off of the fence,
Call Refi the Cash Out Man!
Shiver me timbers,
Robert J. Spinosa
Vice President … (5 comments)

jumbo: OK Boomer, You Don't Need 20% Down - 11/09/19 08:23 PM
OK Boomer, You Don't Need 20% Down
Bound to happen from time to time in the digital age, a saying goes viral --- in this case, "OK, boomer," --- which is meant to expose a close-minded or out-of-touch opinion, thought or mindset of one generation by another (I'll let you figure out the age demographics here).  Hopefully, the topic of this blog will transcend generational differences and address the assumptions about the down payment one needs to make when purchasing a home, versus the reality of what we see every day with those who are actually buying homes.  I think you'll be … (38 comments)

jumbo: Your Debt-to-Income Ratio Is High and It Will Be Alright - 09/21/19 07:21 AM
Your Debt-to-Income Ratio Is High and It Will Be Alright
You might have been lured into reading this blog post under the false assumption that I'd be discussing the controversial subject of financing cannabis-related businesses and property.  Well, you can let that notion go up in smoke.  Instead, we're going to talk about the ways you can get a great jumbo mortgage in California if your debt-to-income ratio (also known as "DTI") is higher than Jeff Spicoli at 4:20pm.  OK, dude, not really, but we are going to address the ways you can get a decent home loan with a very competitive rate … (1 comments)

jumbo: Can I Get a Mortgage If I Am Retired? - 09/08/19 08:45 AM
Can I Get a Mortgage If I Am Retired?   I live in an aging county.  So if you ever find yourself vacationing in the lovely city of San Francisco, give this little exercise a try:  Simply get in your Uber.  Or rent one of those death trap three-wheelers at Fisherman's Wharf.  Or bundle up take it on the heel and toe and come across the iconic Golden Gate Bridge to magical Marin County.  Now, did you feel yourself getting older in the process?   Even if not, Marin County's residents, with their 46.1-year old median age, clean air, great schools and … (15 comments)

jumbo: 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)

jumbo: What's a Piggyback Mortgage? - 06/23/19 07:47 AM
What's a Piggyback Mortgage?
As if!  As if mortgages weren't complex enough, now you're going to tell me there's such a thing as TWO mortgages stacked on top of each other --- just to buy the same home you could otherwise get with one mortgage?  Are you a glutton for punishment?
OK, calm down.  You're correct about the part that adding a second, or "piggyback," mortgage might add complexity, but you're not quite right about the fact that our buyer could have just as easily killed the proverbial financing bird with one stone/loan.  Often, when we suggest borrower consider secondary financing, aka a piggyback loan, … (15 comments)

jumbo: Jumbo Mortgage with 5% Down Payment - 06/17/19 07:36 AM
Jumbo Mortgage with 5% Down Payment
You never hear anyone say "Give it 95%!," do you?  And, curiously, when it comes to getting a jumbo mortgage, that still holds true --- the vast majority of homebuyers still think it takes a 20% down payment to enter the market. As of 2019, there are 34 metropolitan statistical areas (MSAs) in California that have a maximum conforming loan limit of $484,350.  Another handful of counties can only get to a jumbo-conforming limit of around $550,000.  So what do these homebuyers do if they have a maximum of a 5% down payment yet need to exceed … (1 comments)

Rob Spinosa, Mortgage Loan Originator, Marin County (US Bank)

Rob Spinosa

Mortgage Loan Originator, Marin County

Larkspur, CA

More about me…

US Bank

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

Office: (415) 367-5959

Mobile: (415) 367-5959

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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