The new consumer article for today is Short Sale Negotiators and the Interests of Potential Buyers. An awful lot of nonsense gets tried with short sales, most of it for the benefit of lazy listing agents who shouldn't have taken the listing rather than any of the principals in the transaction.
The new consumer article for today is They Told Me Not To Make My Loan Payment. Ladies and Gentlemen, that's one of the top ways to get yourself in trouble when you're refinancing. What if your new loan cannot be done for some reason? In some cases I may ask people to wait or to hold off, but never just to flat not make the payment.
This is the new list of HOMESTEPS properties from Freddie Mac for the areas I specialize in. These properties qualify for special financing. I can get the list for other areas.
I also have a list of upcoming HOMESTEPS properties not on the market yet
If you have questions, Contact me
La Mesa
Address: 4800 WILLIAMSBURG LN 223, LA MESA, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 185,500.00
Address: 4645 MUNROE ST, LA MESA, CA
Rooms: 7 Bed: 4 Bath: 3.0 Price: 519,900.00
Address: 5700 BALTIMORE DR 218, LA MESA, CA
Rooms: 4 Bed: 2 Bath: 2.5 Price: 185,500.00
El Cajon
Address: 12074 CALLE DE LEON 53, EL CAJON, CA
Rooms: 4 Bed: 1 Bath: 1.0 Price: 164,300.00
Address: 1273 ANDOVER RD, EL CAJON, CA
Rooms: 5 Bed: 2 Bath: 1.0 Price: 223,130.00
Address: 855 S ANZA STREET, EL CAJON, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 233,200.00
Address: 531 S ORANGE AVE, EL CAJON, CA
Rooms: 6 Bed: 3 Bath: 1.5 Price: 234,900.00
Address: 1133 PERSIMMON AVENUE 6, EL CAJON, CA
Rooms: 5 Bed: 3 Bath: 2.5 Price: 191,807.00
Lakeside
Address: 12923 MAPLEVIEW ST, LAKESIDE, CA
Rooms: 4 Bed: 2 Bath: 1.0 Price: 63,500.00
Address: 9609 NECTARINE DRIVE, LAKESIDE, CA
Rooms: 5 Bed: 3 Bath: 2.5 Price: 140,450.00
Santee
Address: 9139 FANITA RANCHO ROAD, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 1.0 Price: 179,500.00
Address: 10570 KERRIGAN COURT, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 2.5 Price: 197,128.00
Address: 7390 OLD MISSION COURT 169, SANTEE, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 204,050.00
Address: 9635 MAST BOULEVARD, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 237,970.00
Address: 10507 FLORA AZALEA COURT, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 332,500.00
San Diego City
Address: 4204 45TH STREET 13, SAN DIEGO, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 92,220.00
Dan Melson, Agent
Clarity Real Estate Network
619-300-7425
The Best Loans Right NOW
Based upon "average credit", not absolutely perfect credit. People who do have better credit get even better rates!
Conforming Rates
Thirty Year Fixed Rate Loans
5.25% 30 Year fixed rate loan, with one total point (discount plus origination) to the consumer and NO PREPAYMENT PENALTIES!. Assuming a $400,000 loan, Payment $2208, APR 5.381! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! 30 year fixed rate loans as low as 4.5 percent (But you'd have to be crazy to pay that many points!)
5/1 Hybrid ARM Rates
5/1 ARMs have now fallen to levels below 30 year fixed by nearly a full percent!
4.375% 5/1 ARM, with one total point (discount plus origination) to the consumer and NO PREPAYMENT PENALTIES!. Assuming a $400,000 loan, Payment $1997, APR 4.499! This is a fully amortized thirty year loan with the interest rate fixed for five years. 5/1 ARM rates as low as 4 percent (But you'd have to be crazy to pay that many points!)
Jumbo Conforming Rates (aka Super Conforming)
(NOW $417,001 to $697,500 in San Diego))
5.5% 30 Year fixed rate loan, with one point (total discount and origination) to the consumer and NO PREPAYMENT PENALTIES!. Assuming a $500,000 loan, Payment $2839, APR 5.632! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! 30 year fixed rate loans as low as 4.625 percent (But you'd have to be crazy to pay that many points!)
VA Rates
5.5% 30 Year fixed rate loan, with one total point (discount plus origination) from the lender to the consumer and NO PREPAYMENT PENALTIES (Standard Veterans Administration government generated charges to borrowers apply)!. Assuming a $400,000 loan, Payment $2271, APR 5.633! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! 30 year fixed rate VA loans as low as 4.75 percent (But you'd have to be crazy to pay that many points!)
NONCONFORMING ("JUMBO") RATES
(NOW $697,501 and above in San Diego)
These numbers assume a 70% loan to value ratio, not 80.
Thirty Year Fixed Rate Loans
6.00% "Jumbo" 30 Year fixed rate loan, with ONE point total discount and origination, and NO PREPAYMENT PENALTIES!. Assuming a $700,000 loan, Payment $4197, APR 6.128! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! Jumbo 30 year fixed rate loans as low as 5.00 percent (But you'd have to be crazy to pay that many points!)
5/1 Hybrid ARM Rates
JUMBO 5/1s are about one percent lower than 30 year fixed for the same cost
5.25% "Jumbo" 5/1 ARM, with one point total discount and origination, and NO PREPAYMENT PENALTIES!. Assuming a $700,000 loan, Payment $3865, APR 5.372! This is a fully amortized thirty year loan with the interest rate fixed for five years. 5/1 Jumbo ARMs as low as 4.125 percent (But you'd have to be crazy to pay that many points!) On the hypothetical $700,000 loan, a 5/1 saves over $430 per month in cost of interest over a thirty year fixed!
All rates above are intended for San Diego County today, and include a 30 day lock. Loan prices will vary every day. Loan pricing in the rest of California will be similar. Conforming loan pricing will be similar between about $150,000 and the conforming limit in your area. Nonconforming loan pricing will be similar from the conforming limit up to about $1 million dollars in loan amount.
10 year interest only payments available on 30 year fixed rate loans!
Great Rates on super-jumbo loans also available!
Zero closing costs and zero points loans also available!
Portfolio lenders! Need something special most lenders can't do? Portfolio lenders may be the key! I have portfolio lenders!
Yes, I still have low to zero down payment purchase programs.
Sorry, the last stated income program of which I'm aware stopped taking applications this week.
These are actual retail rates at actual costs available to real people with average credit scores! I always guarantee the loan type, rate, and total cost as soon as I have enough information from you to lock the loan (subject to underwriting approval of the loan). I pay any difference, not you. If your loan provider doesn't do this, you need a new loan provider!
All of the above loans are on approved credit, not all borrowers will qualify, based upon an 80% loan to value and a median credit score on a full documentation loan. Rates subject to change until rate lock.
Interest only, stated income, bad credit and other options also available. If you need a mortgage, chances are I can do it faster and on better terms than you'll actually get from anyone else in the business.
Designing transactions for low to zero down payment a specialty
Please ask me about first time buyer programs, including the Mortgage Credit Certificate, which gives you a tax credit for mortgage interest, and can be combined with any of the above loans!
Ask about the 105% refinance with no PMI
Call me. Clarion Mortgage Capital at 619-300-7425, ask for Dan. Or email me: danmelson (at) danmelson (dot) com
The new consumer article for today is Why Sellers Should Counter All Reasonable Offers. It really isn't rocket science. If your agent advises you otherwise, something is wrong.
The new consumer article for today is Real Estate and "Priced for Perfection" talks about the house that is too beautiful to pass up - but that you should.
The new consumer article for today is There Is No Fairy Godmother for Loans. To avoid becoming a government statistic, ask prospective loan providers the hard questions before you sign on the bottom line - or better yet, before you sign up. "What happens later on?" is a very good question to ask.
I have a problem with shaving. Specifically, the fact that I have extremely tough facial whiskers, combined with facial skin that's the classic easily cut baby face. Put it all together, and not only do I hate shaving, I quite often emerge from shaving looking like I've lost a war with my razor. I've spent a lot of time and effort trying different solutions to the problem, which only got worse when my doctor put me on blood thinners after my heart attack.
So when my wife wanted me to try Mary Kay's Shaving Cream for men, I was understandably skeptical, but I understood this was Something Spouses Do For Each Other. She's certainly done equivalent things for me in the past.
I was very pleasantly shocked at how much better of a job it did. I've been using it now for almost two weeks, and the incidence of cuts is drastically reduced over the product that formerly did the best job.
So in penance for my skepticism, I'm posting this here. I highly recommend Mary Kay's Shaving Cream. I'm going to keep using it.
Disclosure for the clue challenged: Yes, my wife makes money every time she sells a can of this stuff. But she still did a good thing by making me try this. And she's the World's Only Perfect Woman too. I'll even send you the link to her Mary Kay website if you ask, but this stuff is available from every Mary Kay person.
The new consumer article for today is "I'm Working With Someone Else, But Could You Just Help Me With..." talking about requests for free work from real estate agents. I'm perfectly happy to give general information to non-clients and even talk about general options, but when it comes down to specific information applicable to specific situations, that's how I make a living, and when you really examine the issue, what a good agent (c'est moi) makes is both reasonable and incredibly cost effective. Not to mention that if I don't make a living, I'm not going to be an agent any longer, and therefore no longer in a position to give advice.
Meant to upload this a few days ago, but I had been having internet difficulties so it got delayed. This year, my elder daughter got Presidential Awards for both the English and Mathematics portions of the big test the state of California does every year.
Here's a picture of her with her awards:
Her mother and I are very proud of her!
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