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 … (11 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)

refinance: Lock Watch for the Week of 3/4/2019 - 03/03/19 02:37 PM
Lock Watch for the Week of 3/4/2019
 
Volatility-O-Meter:
A healthy slate of reports this week but I'm not sure any of it will break the 15bps range we've held since early January.  Employment situation on Friday warrants the most attention.
 
Economicalendar (all times are Pacific):
Mon, 3/4:     Construction Spending (7am).
Tues, 3/5:     New Home Sales and ISM Non-Mfg Index (7am).
Weds, 3/6:     ADP Employment Report (5:15am), International Trade (5:30am), Beige Book (11am).
Thurs, 3/7:    Jobless Claims and Productivity and Costs (5:30am).  Fed Balance Sheet (1:30pm).
Fri, 3/8:        Employment Situation and Housing Starts (5:30am).
 
10-Year Treasury History
2.74%     Market Open
2.68%     One Week Ago
2.73%     One … (3 comments)

refinance: 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)

refinance: Are You a Lender or a Banker or a Broker? - 02/15/19 03:17 PM
Are You a Lender or a Banker or a Broker?
 
"So are you a broker or a lender?"  "Or a banker or a lender?"  "Or a broker/banker?"  Yes, yes, and yes!
 
We get this question all the time, but I think it comes from a good place.  Naturally, everybody shopping for a home loan wants to get the best rates and terms and some confusion swirls around how the type of mortgage originator one uses has a bearing on the outcome.  So when they work with me, who is really behind the curtain?
[Too lazy to read the rest? Watch the video below instead.]
 
 
Banker / … (2 comments)

refinance: Lock Watch for the Week of 12/24/2018 - 12/21/18 07:21 AM
Lock Watch for the Week of 12/24/2018
 
Volatility-O-Meter:
It's a holiday week and we don't know if the President will fire the Fed chairman.  Can't we just all take a vacation?
 
Economicalendar (all times are Pacific):
Mon, 12/24:      2-Yr Note Auction (8:30am).
Tues, 12/25:     Markets Closed.
Weds, 12/26:     Case Shiller HPI (6am), 5-Yr Note Auction (10am).
Thurs, 12/27:    Jobless Claims (5:30am), New Home Sales and Consumer Confidence (7am), 7-Yr Note Auction (10am).
Fri, 12/28:        Int'l Trade in Goods (5:30am), Chicago PMI (6:45am), Pending Home Sales (7am).
 
10-Year Treasury History
2.77%     Market Open
2.86%     One Week Ago
3.05%     One Month Ago
2.48%     One … (2 comments)

refinance: How to Get Rid of PMI on Your Mortgage - 12/09/18 08:24 PM
How to Get Rid of PMI on Your Mortgage
 
Nearly every home buyer initially hates the "P" word --- PMI, or private mortgage insurance.  Years and years of conditioning have taught generations upon generations of first-time buyers that PMI is something to be avoided at all costs, and even though I daily go to great lengths to demonstrate this is patently untrue, even those that come to see the light about PMI and find themselves with a form of private mortgage insurance will soon arrive at their next concern:  "When can I remove the PMI from my payment?"
 
Good Housekeeping
In the spirit of … (5 comments)

refinance: 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)

refinance: 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)

refinance: Never Mind the Tax Cuts and Jobs Act, Here's the Homebuyers - 01/21/18 05:17 PM
Never Mind the Tax Cuts and Jobs Act, Here's the Homebuyers
 
Side One:
Mortgage Interest Deduction:  Reduced from $1MM to $750K. Grandfather:  If you have a loan that was originated before 12/15/2017, and your mortgage balance exceeds $750K, you are still able to deduct the interest up to $1MM.  You're grandfathered in, unless... Don't Fear the Refi:  If you refinance a mortgage with a balance above $750K and your loan was originated before 12/15/17 AND via the refi the loan balance does not increase, you will "carry over" your $1MM cap. HELOC'd and Unloaded:  The mortgage interest deduction on home equity lines of … (3 comments)

refinance: It's 2018. Will I Lose My Tax Deduction if I Refi? - 12/31/17 07:02 AM
It's 2018.  Will I Lose My Tax Deduction if I Refi?
 
If you're asking this question, I'm going to go out on a limb and say you're experiencing some anxiety right about now.  But no matter how bad it gets, realize things could always be worse.  You could be the Internal Revenue Service and tasked on a couple weeks' notice with retooling your shop to both comprehend and implement the Tax Cuts and Jobs Act.  So whether you're a homeowner, a CPA, a Californian, an IRS employee or a blue state Democrat, let's wash down a couple of Xanax with a strong martini … (22 comments)

 
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

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