Low Interest Rates

While many people have bought homes over the past several years, a lot more families are still not finding the right home or are working out credit issues. A common question I get is how long interest rates are going to stay low. Many thought that rates would start going up a little bit towards the latter half of 2017. In fact, there was a brief uptick in the middle of the year.

However, this reversed course. All signs are pointing to rates staying low for a little while longer. This could be sometime in 2018. So it is important to evaluate your situation closely! If you are in a loan that is maturing or at a high rate, you should refinance. Should you be looking for a home, don’t wait too long. If you have questions about loan options, do not hesitate to ask. I’m Karen, your Mortgage Genie whose helping you find the home of your dreams.

Should I Use a Mortgage Broker or Banker for My Mortgage?

A common question people wonder is whether to use a broker or banker for their mortgage? As far as rates go, they are very comparable. It is commonly misjudged that brokers have higher rates but this is not accurate. Brokers do get a commission but their fees come out of the more competitive rates that they are able to obtain. Also, if you work with an experienced mortgage broker, you will find that they have excellent knowledge and are able to provide you unbiased advice since they don’t work for a direct financial institution. I’m Karen, your Mortgage Genie whose helping you find the home of your dreams.

Karen’s Weekend Picks: 12/1-12/3

Bay Area Weekend Picks for 12/1-12/3: This holiday season is here and no matter what your religion or background, you can’t resist the overall joy most people feel this time of year. A great activity this weekend is the annual holiday parade in Pleasanton. This is two hours of pure joy including a visit from good old Santa Claus. Besides a fun parade, take the opportunity to go to a local ice ring. Many pop-up ice rings are put up during the holidays including in many malls and within some tree lots. Happy Holidays. I’m Karen, your Mortgage Genie who provides weekly weekend suggestions every Thursday so check in with me again soon.

Thanksgiving Weekend 2017

This weekend is America’s original holiday, Thanksgiving.

This is an opportunity for being thankful, spending time with family, and shopping. If you love getting a deal then Black Friday is the day for you! One great way to find the deals this Black Friday is at bestblackfriday.com. If you’re not a shopper, this weekend is also a great opportunity to help some of our local food banks. The San Francisco and Marin Food Banks hold a 5K Turkey Trot on November 24, where you can help raise funds for those in need.

Have a wonderful Thanksgiving!

I’m Karen, your Mortgage Genie who provides weekly weekend suggestions every Thursday so check in with me soon!.

California FHA Loans

What is a FHA Loan?

An FHA loan is a home loan that is insured by the Federal Housing Administration. That means the bank’s loans are guaranteed, so if you don’t pay the bank will still get paid. Banks more willing to give out these loans than ones with out FHA backing. Another advantage is that FHA loans allow you to buy a home with a down payment as small as 3.5%. In fact, borrowers with low credit scores are more likely to get approved if they apply for an FHA loan than other types of loans. For instance, you can have a credit score as low as 580 and make a 3.5% down payment. Any first time homebuyer or buyer with imperfect credit should contact me today to discuss options.

I’m Karen, your Mortgage Genie, whose helping you find the home of your dreams.