refinance: 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)

refinance: Should I Keep Making My Mortgage Payment? - 08/31/20 08:14 AM
Should I Keep Making My Mortgage Payment?
  
With so many people refinancing these days, and with the loan process sometimes crossing one or two months' time, a question we frequently get from those in process is, "Should I keep making my mortgage payment?"  The answer is a simple and clear, "Yes!"  
 
But let's talk about why, because the concept is as simple as it is often misunderstood.  In our formative financial years, many of us rented a home or apartment before we made the leap into home ownership.  And I'd be willing to be bet that more than a few of us got … (16 comments)

refinance: 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)

refinance: 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)

refinance: 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)

refinance: 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)

refinance: 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)

refinance: The Yin and Yang of Mortgages for Business Owners - 12/03/19 06:17 AM
The Yin and Yang of Mortgages for Business Owners
 
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.
 
But can these seemingly opposite or contrary objectives actually be complementary, interconnected and interdependent and come together to allow a business owner to get a great mortgage?  Is there a yin and yang relationship somewhere in this … (0 comments)

refinance: 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)

refinance: 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)

refinance: Do You Need a New Appraisal When You Refinance? - 08/31/19 07:36 AM
Do You Need a New Appraisal When You Refinance?
 
It's September of 2019 and interest rates are again approaching historic lows.  This means that many homeowners are considering a refinance --- and for good reasons.  If there is a hurdle for some, it's the cost and risk of getting an appraisal on their property.  What happens if the appraised value doesn't support the loan amount, loan-to-value or the transaction itself?  Are these clients then out the money for the appraisal report, typically anywhere from $500 to $1200?
 
Earlier in the year, we introduced an appraisal tool that allows us to determine, in advance … (14 comments)

refinance: 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)

refinance: 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)

refinance: Should I Get a HELOC? - 07/01/19 07:50 AM
Should I Get a HELOC?
 
Thankfully, many of our clients are happy with their mortgages.  The interest rate, the terms, the peace of mind --- all are satisfactory and there's no motivation to change or refinance.  But what happens if there's a need to use the equity in the home to finance a remodeling project, a large purchase or to just have a "safety net?"  A home equity line of credit or "HELOC" can be used to meet these purposes, but should you get a HELOC and, if so, how do they work?
 
What Is a HELOC?
A home equity line of credit, or … (11 comments)

refinance: 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)

refinance: Lock Watch for the Week of 4/15/2019 - 04/14/19 09:14 AM
Lock Watch for the Week of 4/15/2019
 
Volatility-O-Meter:
Fairly light week of reports that should mean no fireworks.  But beware every time you issue such a comment...
 
Economicalendar (all times are Pacific):
Mon, 4/15:    Empire State Mfg Survey (5:30am).
Tues, 4/16:     Industrial Production (6:15am), Housing Market Index (7am).
Weds, 4/17:     International Trade (5:30am), Beige Book (11am).
Thurs, 4/18:    Jobless Claims, Philadelphia Fed Bus. Outlook Survey, Retail Sales (5:30am), Business Inventories (7am) and Fed Balance Sheet (1:30pm).
Fri, 4/19:        Housing Starts (5:30am).
 
10-Year Treasury History
2.56%     Market Open
2.51%     One Week Ago
2.59%     One Month Ago
2.83%     One Year Ago
(Need a rate quote for your … (2 comments)

refinance: Lock Watch for the Week of 3/25/2019 - 03/23/19 07:26 AM
Lock Watch for the Week of 3/25/2019
 
Volatility-O-Meter:
"I don't know where I'm going, but I sure know where I been..."  We are in uncharted waters this week and the Fed's statement last week creates a new backdrop for rates.  There has been much volatility since the statement and I would expect more still given this week's reports and auctions, but the rate trend is downward, without question.
 
Economicalendar (all times are Pacific):
Mon, 3/25:     Quiet.
Tues, 3/26:     Housing Starts (5:30am), Case-Shiller HPI (6am), Consumer Confidence (10am). 2-Yr Note Auction (10am).
Weds, 3/27:     International Trade (5:30am).  5-Yr Note Auction (10am).
Thurs, 3/28:    GDP and Jobless Claims (5:30am).  … (0 comments)

refinance: Lock Watch for the Week of 3/18/2019 - 03/16/19 07:34 AM
Lock Watch for the Week of 3/18/2019
 
Volatility-O-Meter:
All eyes on the Fed this week.
 
Economicalendar (all times are Pacific):
Mon, 3/18:     Housing Market Index (7am).
Tues, 3/19:     Factory Orders (7am).
Weds, 3/20:     FOMC Meeting  (11am).
Thurs, 3/21:    Jobless Claims and Philadelphia Fed Business Outlook Survey (5:30am).  Fed Balance Sheet (1:30pm).
Fri, 3/22:        Existing Home Sales (7am).
 
10-Year Treasury History
2.60%     Market Open
2.64%     One Week Ago
2.65%     One Month Ago
2.85%     One Year Ago
(Need a rate quote for your specific scenario?  Click anywhere on this link.)
 
W.S. Merwin, 1927 - 2019
 
I had hardly begun to read
I asked how can you ever be sure
that what you … (2 comments)

refinance: Lock Watch for the Week of 3/11/2019 - 03/09/19 03:10 PM
Lock Watch for the Week of 3/11/2019
 
Volatility-O-Meter:
A lot of key reports this week and on the heels of the real dud of a jobs number Friday.  Could this be an inflection point?  We'll see. Oh, and let's not forget auctions too.
 
Economicalendar (all times are Pacific):
Mon, 3/11:     Retail Sales (5:30am), Business Inventories (7am), 3-Yr Note Auction (10am).
Tues, 3/12:     CPI (5:30am), 10-Yr Note Auction (10am).
Weds, 3/13:     Durable Goods and PPI  (5:30am), Construction Spending (7am), 30-Yr Bond Auction (10am).
Thurs, 3/14:    Jobless Claims and Import/Export Prices (5:30am), New Home Sales (7am).  Fed Balance Sheet (1:30pm).
Fri, 3/15:        Empire State Mfg Survey … (1 comments)

refinance: I Got Another Rate Quote. Can You Beat It? - 03/03/19 07:27 PM
I Got Another Rate Quote.  Can You Beat It?
 
Talk may be cheap, but money is not.  And you can bet your bottom dollar that most consumers seeking to get a mortgage will shop for the best rate quotes through any number of ways; their local bank, the internet, etc.  We will often get requests to match or beat rate quotes as a result.  Instead of publishing rates and promising that we're the cheapest and best source for all rate shoppers, which is something that is frowned upon by the regulators of our industry, I instead want to shed some light on … (3 comments)

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

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

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