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A lot of people are second guessing whether they should lock the interest rate on their purchase or refinance now or wait until after the Fed cuts the rates on September 18th but you need to understand that the mortgage market anticipates the Fed rate cut the same way a driver anticipates turning the steering wheel when they see a corner down the road. Although waiting to lock an interest rate ...

It's important to realize that when the Federal Reserve cuts rates by a certain amount, mortgage rates do not automatically fall by the same amount. Fed rate cuts can create volatility in the market so if you're in the market to refinance to reduce your rate or consolidate bills, have a "strike price" where you give your loan officer permission to lock in the rate for you.

Sustained weakness in the employment report is finally giving mortgage rates the relief we've been seeking. Not only did the July number miss by about 65,000 jobs, the unemployment rate increased to 4.3% which is going to give the Federal Reserve "permission" to start cutting rates on September 18th at their next meeting. Fortunately, the bond market is not going to wait for that to happen and ...

Despite still being below "normal" levels throughout most of the country, home inventory levels have gradually increased as have the number of days homes sit on the market. However, don't think that price decreases won't successfully entice more buyers back into the market and create competitive bidding wars to chase prices up. Have a realistic understanding of the market to increase your chanc...

Why chasing a loan assumption for a lower interest rate is not a good idea. #loanassumption #assumableloans #dontassume #mortgagehacks #mortgagetips #camortgagebroker #mortgagebroker @adamheaneyhomeloans

Housing affordability continues to be a challenge, especially for the Millennial generation and here's a look at what's behind it. Will either Presidential candidate address it? My advice to aspiring home buyers is to take heart if they are able to afford a home at this time and look down the road at the wealth creation home appreciation will bring.

My favorite holiday of the year is Memorial Day Weekend because each year the City of Newport Beach hosts the Field of Honor with 1776 American Flags to honor those who gave all. #memorialday #fieldofhonor #newportbeach #thankyou

As a mortgage advisor, my goal is to provide the shortest path to success for aspiring homebuyers. Some “mortgage hack strategies” which sound good in theory just send buyers down a rabbit hole or chasing unicorns while deferring their dreams of homeownership. Veterans are not likely to allow their loan to be assumed because in most cases, they need to pay it off to utilize their VA benefit on ...

One of the biggest misconceptions Veterans have is that if they lost a home to foreclosure or short sale in the past, they can never use their VA home benefit again but fortunately this is not the case. Although rising home values do NOT restore a Veterans entitlement, they DO improve the Veteran’s purchasing power. #mortgagebroker #vahomeloan #entitlement #zerodownpayment #veteran

This is a funny little saying in the mortgage and real estate world but here's a "real life" example of what it looks like.

Debt Service Coverage Ratio (DSCR) loans are a great way to qualify for loans on investment properties when borrowers don't show adequate income on tax returns or W2s. The trick is getting the loan amount high enough to meet the borrower's needs while still keeping the payment low enough to be covered by the rental income. #DSCR #mortgagebroker #debtservicecoverageratio #investmentproperty

Thanks to everyone who entrusted us with their home financing needs in 2023. It was a difficult year in the mortgage and real estate markets but things are looking much more favorable in 2024 and we can’t wait! #mortgagebroker #homeloans #thankful

Veterans who may have exercised the forbearance option and received notice that the deferred payments are now due and must modify their loan, or risk foreclosure, should follow up with their loan servicers to confirm the foreclosure process has been halted.

This video was created on Halloween, 10/31/23 in the spirit of "spooky things" and what's scarier than a housing crash to a first time home buyer or a majority of homeowners who have a lion share of their net worth tied up in their home equity? And speaking of lions, I would offer the same advice to the cowardly lion in the "Wizard of Oz" to instead take heart and be courageous in the current h...

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