refi: 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)

refi: 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)

refi: 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)

refi: YouTube Thursday? That's the Way You Do It! - 01/27/22 07:48 AM
YouTube Thursday? That's the Way You Do It!
In keeping with the spirit of YouTube Thursdays, and adhering to my resolution to build a YouTube channel this year, I'm optimistic this post will count as my first contribution.
This week, I'm covering the basics of cash out refinances, because as rates begin to rise, cash out refinances still offer value to homeowners (where "rate and term" refinances begin to make a less compelling case).  Also, we put a fun spin on the '80's hit "Money for Nothing," because while cash out refinances may offer a really cost-effective way to do home improvement, finance … (2 comments)

refi: 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)

refi: Can I Refinance a Mortgage on a COVID Forbearance Plan? - 09/13/20 09:30 AM
Can I Refinance a Mortgage on a COVID Forbearance Plan?
Back at the end of the first quarter of 2020, the president might still have wanted to downplay COVID, but many real American homeowners suddenly found themselves in dire financial straits and quickly took advantage of the forbearance plans offered by the servicers of their mortgages.  This payment relief allowed them to navigate the most uncertain and immediate impacts of the pandemic and for some, provided a bridge to re-employment and/or firmer financial footing.  Now that some of these borrowers have made readjustments to the new normal, they may wish to take … (21 comments)

refi: Will My Property Taxes Go Up If I Refinance? - 05/17/20 07:33 AM
Will My Property Taxes Go Up If I Refinance?
Because the current interest rate environment is so conducive to refinancing, a concern that some have about taking action stems from confusion related to how their property taxes are determined, and specifically the question, "Will refinancing cause my property taxes to go up?"  It goes without saying that nobody wants to save money via refinance, only to see it evaporate in the form of higher real estate taxes.  But is this a real threat?  Or is it safe to assume that simply by refinancing you would not see a change in your tax basis?
Our answer must first … (5 comments)

refi: How Hard Is It to Refinance a Mortgage? - 05/10/20 11:03 AM
How Hard Is It to Refinance a Mortgage?
On a weekend morning you wake up:
A)  Before 6AM.
B)  Before 8AM.
C)  Before 10AM.
D)  Yeah, yeah, I'm awake...
It's time to take out the trash when:
A)  Pickup is the following day.
B)  The level of trash is approaching the top of the trash can.
B)  The level of trash has crossed the plane of the top of the trash can.
C)  Expert levels of jenga skill are required to balance your trash on the top of the steaming heap.
If you answered "D" to either of the above, and you have a mortgage in California, this blog post is dedicated to … (3 comments)

refi: 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)

refi: The New Abnormal - 03/28/20 08:54 AM
The New Abnormal
We've just turned the corner from March to April, but here in the San Francisco Bay Area, we are still sheltered in place (SIP).  Everybody in our home is making adjustments to our new abnormal and it's a good lesson for today's homeowner too.  We may not be able to move around or go out, but can we hunker down and tweak our financial situation so that it better positions us to weather the next few months?
First, a little perspective.  Even if the health implications of the pandemic miraculously prove to be short-lived, my sense is that the economic ripples will … (23 comments)

refi: How a Refinance Can Drive Down Your Monthly Expenses - 08/12/19 07:49 AM
How a Refinance Can Drive Down Your Monthly Expenses
While all real estate may be local, so too is it true that one homeowner, confronted with the opportunity to save $250 per month through refinancing, for example, may view that as a significant financial relief while another may feel it's not even worth it to get off the couch to consider going through the hassle of the loan process.  As we work into the second half of 2019, there is no mistake that the low rate environment we are enjoying again is providing opportunities for homeowners to refinance.  Often in these cases, having an … (11 comments)

refi: Should I Refinance into a 15-Year Fixed Rate Mortgage? - 08/03/19 07:46 AM
Should I Refinance into a 15-Year Fixed Rate Mortgage?
With the Federal Reserve tongue-tied and twisted and an easy trade war time-tripping into the future, we find ourselves the beneficiaries of another very appealing low interest rate environment here in the second half of 2019.  This stands to benefit many who have mortgages at higher rates and even some who may not fit that exact bill, but who are focused primarily on reducing the term of their loan and perhaps paying their entire balance off at a faster rate.  We are seeing a number of homeowners who are seeking to determine if … (12 comments)

refi: When Is a Good Time to Refinance? - 05/27/19 08:11 AM
When Is a Good Time to Refinance?
There's that great, old maxim that goes, "There are two kinds of jobs in the world; the kind you shower before and the kind you shower after."  And in that spirit, I would offer that there are two kinds of refinances in the world --- the kind you transact because you want to and the kind you pursue because you must.  We'll cover both here and we'll talk about when it may be a good time to consider refinancing your home.  But first, some basics.
Refinancing your mortgage(s) allows you to change the terms of your … (3 comments)

refi: Will My California Property Taxes Go Up if I Refinance? - 02/28/19 07:25 AM
Will My California Property Taxes Go Up if I Refinance?
I would be willing to bet that each year, good financial benefit gets left on the table by those who want to refinance their mortgages but are afraid that by doing so, they may see their California property taxes go up.  Is this concern founded?  Can that really happen?
In short, no.  California property taxes are not reassessed when a homeowner refinances his or her mortgage.  And the simple reason for this is that there is no transfer of title that would trigger the tax basis to be reassessed by the County Assessor.  When … (0 comments)

refi: Debt Con Goes DEFCON - 09/30/18 07:51 PM
Debt Con Goes DEFCON
Back in the Cold War era, the Joint Chiefs of Staff implemented a new system to indicate military readiness and they called it the 'defense readiness condition,' or DEFCON.  They gave it five levels, "1" being imminent nuclear war.  So let's use this model --- along with some crafty adaptations --- to demonstrate how debt consolidation refinances can also reach critical levels as a consumer manages his finances along with the value of the his home.  It's important to remember that managing your mortgage and other debts always requires vigilance, just like military preparedness.  With a nod to … (10 comments)

refi: Bank Statement Jumbo Mortgage - 04/04/18 07:36 PM
Bank Statement Jumbo Mortgage
It is no secret that the self-employed have their share of challenges when it comes to getting a home loan.  And why wouldn't they?  On one hand, their tax professionals spend hours maximizing their deductions and helping them "write off" every allowable expense and on the other hand, their mortgage loan advisor tells them they have to show more income in order to qualify.
The difference of intentions is like two trains moving in opposite directions...
Yet, there may be a solution for some of these borrowers.  On both the purchase and refinance side, we have a jumbo mortgage program that … (1 comments)

refi: What Happens When You Flip-Flop On Your Home's Listing? - 09/06/17 06:03 AM
What Happens When You Flip-Flop On Your Home's Listing?
Oh how we love to skewer our politicians for their changes of heart and mind:
"I was for the Iraq war before I was against it." 
"Read my lips.  No new taxes." 
Or, better still:
"You're going to have such great health care, at a fraction of the cost, and it will be so easy."
So once your raucous laughter dies down, let's think about what happens when a homeowner lists a house for sale, then, for whatever reason, changes his mind and takes the property "off the market?"  We'll assume this owner contemplates two scenarios from there:

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

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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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