Real estate blog entries tagged with preappproval by Rob Spinosa, Mortgage Loan Originator, Marin County (US Bank)

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preappproval: How Long Does It Take to Get Pre-Approved? - 07/05/20 08:16 AM

How Long Does It Take to Get Pre-Approved?

Many real estate markets in California move fast, but it's been this way for years. When a hot property hits, perhaps there's a showing on Sunday (more on that in a bit, and in the context of COVID-19) and then offers are due on Tuesday, with some buyers scrambling to make a pre-emptive offer, if possible.

This reality can run counter to some buyers' inclinations to get their mortgage financing in order by dipping one toe in the water at a time. It's not uncommon for us to get a call that starts something like this: "My partner … (5 comments)

preappproval: 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)

preappproval: Using RSU Income to Qualify for a Jumbo Mortgage - 09/01/18 08:15 PM

Using RSU Income to Qualify for a Jumbo Mortgage

Way back in 1997, Jeff Bezos set forth his bold business plan for Amazon, with proviso #9 reading: "We will hire and retain the best people and we will not pay them with cash." Wait. What???

So I guess it's no longer any secret that many technology professionals are compensated with Restricted Stock Units, also known as “RSUs.” And here at the epicenter of the high tech world, namely the Silicon Valley and San Francisco Bay Area, we see a lot of paystubs and verification of employment forms (“VOE”) that include base pay, bonus income and … (0 comments)

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