waiver: 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)

waiver: What Is an Escrow Account? - 03/10/19 12:39 PM
What Is an Escrow Account?
 
When renters desire to become home buyers, they quickly learn once in the mortgage process that their single rent payment will morph into "PITI" or "principal, interest, taxes and insurance," or a "total monthly housing payment."  So, yes, there are additional monthly expenses to consider when you become an owner.  Historically, ownership has bestowed tax benefit on the buyer and that's been an offset to the higher cost of ownership and because of this, the "rent vs. own" calculation has been used to more fairly compare the cost of putting a roof over one's head.  Rent may be simpler, … (2 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

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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