Hazel Marin
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05/12/2024
Happy Mother's Day! Blessings to a Gorgeous, Amazing, Wonderful, Sweet, Loving Mother...🥰
Goodbye LIBOR, HELLO SOFER ~
If you have or considering an or adjustable-rate mortgage loan…
LIBOR, or the “London Interbank Offering Rate,” is being phased out. SOFR, or the “Secured Overnight Financing Rate,” is becoming a new norm for many ARM loans.Why? It's been seen that the LIBOR index can be manipulated. That’s potentially harmful to consumers.What's different with SOFR loans?Other than its simply being a different index or the rate on which your loan rate would be adjusted, SOFR loans will adjust every six months instead of once per year. The SOFR is based on actual daily transactions and therefore is resistant to manipulation. This is better for consumers. If you have an existing loan based on LIBOR, your servicer will provide information on any change prior to its implementation. If you are considering a new loan, ARMs can be beneficial, as the rate is often locked in for 3,5,7 or even 10 years before the rate can change AND the starting rate is typically less than a comparable 30-year fixed rate loan. If you move or refinance before the rate is subject to change, a SOFR loan can provide for significant savings or even the possibility of a larger loan amount for what would have been the same payment as a fixed rate loan.
Talk to us to learn more. We’re happy to help you decide what will work for you.
01/26/2022
~ it’s been 2 years already~We miss u💛💜
#8 #24 🏀
🙏🏽
01/24/2022
Monday Motivation 🙌🏽
When prices are rising, why not let the market help you?
It's great to save up for a large down payment of 20% or more. Yet, when prices are on the rise, saving quickly enough to keep pace can be extremely difficult. In times such as these, why not let the market build equity for you instead?
Building Equity.
Owning a home in an appreciating market can build equity faster than most people can save. For example, a $200,000 home that appreciates by 6% gains $1,000 per month in equity.
What are the benefits of buying now?
💠Getting ahead of rising prices and rates. Purchasing with a small down payment often means you're required to purchase mortgage insurance (MI or PMI for Private MI). Your total monthly payment will be higher; however, the cost of mortgage insurance today can be a lot less expensive than buying a more expensive home at a potentially higher rate tomorrow.
💠Diverting rent payments to equity. If you’re currently renting, chances are good your monthly expense is already similar to a payment to own. When you consider that part of your payment is a reduction of principal balance, the real net cost can be far less.
💠Using appreciation to your advantage. While you’re saving to buy, appreciation (or rising home value) works against you. After you’ve purchased your home, rising value works with you to build equity and may even mean you can eliminate the cost of mortgage insurance more quickly.
💠Earning tax advantages. Many homeowners enjoy income tax savings based on the mortgage interest and real estate taxes they pay each year. Talk to your tax professional to see if tax advantages may reduce the actual cost of owning for you, too.
If you have questions about MI, appreciation and interest rates, reach out. 📲
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Brea, CA
92821
Opening Hours
| Monday | 9am - 5pm |
| Tuesday | 9am - 5pm |
| Wednesday | 9am - 5pm |
| Thursday | 9am - 5pm |
| Friday | 9am - 5pm |
