• 849 Mistletoe Lane, Redding, CA 96002
  • 530.226.0150

Fall 2017 - It’s A Purchase & Fix UP The

10/28/2017

3rd QTR of 2017 - Home Loan Information

This past quarter 57% of our loans were purchase money where 43% were Refinance Loans. Of the refinances a majority of these were to take money out to fix up the home or to payoff credit cards that had been used to fix up the home.

In the lending industry we are starting to see the resurgence of the 2nd mortgage. This means to me lenders are comfortable with the health of the Real Estate Market today. If looking at a 2nd mortgage be sure to ask questions like is the interest rate fixed or variable, how long do you plan to take to pay it off (2 years -or-10 years), is there an upfront fee, is there a prepayment penalty and how does it work?

In the government loan mix, we made FHA, VA and USDA Loans this past quarter. FHA loans made up the majority of our government loans. We also make Conventional and Reverse Mortgages too. We have no underwriting fees on most of our loans at this time. We are closing many loans at or very near 30 days today.

To give you an idea as to some of the loans that we made this past quarter, We Helped:

  • 2 Reverse Clients to obtain their loans with very little closing costs and another at a relatively low cost. In these cases, we freed up disposable income so that they can enjoy lives to a fuller extent without a mortgage payment.
  • Several clients take cash out of their homes for Home Improvements.
  • A client to buy his father’s home out of the family trust.
  • Several clients to purchase or refinance after credit problems including bankruptcies and foreclosures. Often, we can work with credit to increase scores and lower rates.
  • A veteran work to obtain a credit score so he can buy a home in the near future.
  • A client to purchase a home and relocate back home in the Shasta County area after living abroad for 25 years.

Special thanks to past clients and professionals for their business and referrals this past month including Mark, Rod, Carolyn, Jamie, Toni, Theresa, David, Mike, Tammy, Brian and Jay. We appreciate the confidence that you’ve placed in us in allowing us to take care of you and your clients, friends and families.


Summer 2017 --- It’s A Purchase Market

08/08/2017

2nd QTR of 2017 --- Home Loan Information

This past quarter 80% of our loans were purchase money where 20% were Refinance Loans. This is a
big shift from last year when this mix was 50/50. This data tells us that most of borrowers that had
been thinking about refinancing for lower rates have done so and we’ve entered more of a Purchase
Loan Market at this time.

Federal Reserve Chairwoman Janet Yellen stated late last year that she could see the Fed Funds rate go
to 3% by the end of 2018. It is currently holding at 1 to 1.25% today so we are likely to see higher rates
in the future but for now she also came out to say recently that the economy is not increasing to the
desired 2% annual growth rate she’d like to see. With this in mind we may not see another rate hike this
year and we may not see 3% by the end of next year unless the economy really starts to kick into gear.
What does this mean-- -rates may stay down for a while yet.

In the government loan mix, we made FHA, VA and USDA Loans this past quarter. FHA
loans made up the majority of our government loans. We also make Conventional and
Reverse Mortgages too. We have no underwriting fees on most of our loans at this time. We
are closing many loans at or very near 30 days today.

Average Note Rates on Loans Today Are Still Very Close to 50 Year Lows.

To give you an idea as to some of the loans that we made this past quarter, WE HELPED:

 

  • Several clients to overcome past credit, foreclosure and short sale problems resulting in the ability to buy again and in several instances, we’ve helped clients improve their credit scores resulting in lower interest rates. 
  • Two clients’ buy their grandparents past home, keeping the home in thefamily.  This is very nice and rewarding.
  • Several client’s buy their 1 st and 2 nd homes this past quarter.
  • We helped a veteran and his wife to buy a home. Prior to that they were renting. When we started he was concerned that they couldn’t buy a home. When the loan was complete, with a tear in his eye he gave me a big handshake. This made my day, my week and it's why I work hard at my job.
  • We helped a client secure a Reverse Mortgage. This freed up disposable income so that hecan enjoy life a little better without a mortgage payment.

Special thanks to past clients and professionals for their business and referrals this past month including Mark, Rod, Carolyn, Jamie, Toni, Theresa, David and Mr. Brown. We appreciate theconfidence that you’ve placed in us in allowing us to take care of you and your clients, friends
and families.


Winter 2016 --- Where Will The Rates Go From Here?

02/15/2017

4th QTR of 2016 - Home Loan Information

This past quarter real estate lending did pick up with borrowers getting in their refinances and purchases prior to the rates making another move up this past QTR. The two big pieces of news this past QTR was of course that Donald Trump was elected to become our 45th President and that the Federal Reserve increased the Fed Funds rate from .50% a year ago to .75%. If the US and World economies start to fire on all cylinders Janet Yellen; our Federal Reserve Chairwoman, has stated she could see the Fed Funds rate go to 3% by the end of 2018 so we are likely to see higher rates in the near future. One thing is for certain, regardless of where the rates go, people will always need money.Money and real estate loans help to improve our client’s lives---Accelerated Mortgage is a part of that and we thank you and are honored to be able to help our clients with this financial endeavor.

In the government mix we made FHA and VA Loans this past quarter. VA loans made up the majority of our government loans. We have no underwriting fees on most of our loans at this time. We are closing many loans at or very near 30 days today.

Average Note Rates on Loans Today Are Still Very Close to 50 Year Lows.

To give you an idea as to some of the loans that we made this past quarter, we helped:

  • A young couple with 6 boys take out a Home Improvement loan to be used toward remodeling and upgrading their existing home.
  • Several veterans refinanced to make Home and Improvements and to simply lower their interest rates saving them on interest and payments.
  • We helped a client refinance after working through some credit challenges.
  • We helped a single mom with 4 kids to buy her 1st home. 3 of the kids are foster kids and she worked with her credit for months to get herself and this family in a position to be able to do this. Congratulations to her! What a neat thing to be able to help out!

Special thanks to past clients and professionals for their business and referrals this past month including Brad, Mark, Rod, Carolyn, Jamie, Toni, and Rudy. We appreciate the confidence that you’ve placed in us in allowing us to take care of you and your clients, friends and families.


Fall 2016--- Election Affect, Good For Rates?

11/27/2016

3rd QTR of 2016 - Home Loan Information

Loans this past quarter at AMS (Accelerated Mortgage Services) were made up of 55% government loans and 45% conventional loans. The big news at the beginning of October was that USDA lowered their upfront Funding Fee from 2.75% to 1%. USDA stated “Because foreclosure and delinquency rates have fallen to historic lows, USDA could afford this reduction”. In the recent past we saw FHA drop their Annual Mortgage Insurance fee from 1.35% to .85% for the same reason. The post melt down real estate market is now considered healthy by the real estate lending agencies which is translating into saving for our borrowers.

The next question is will the savings in real estate loans continue. With the Presidential Election on the horizon it really is anyone’s guess. I do see many financial planners and analysts putting odds on an increase in the Fed Funds Rate by year’s end which may mean the beginning of the end of the easy money and low rate policies we’ve all benefited from in the recent past. My advice is that if you’ve been thinking about refinancing to lower your rate now is the time. If the loan pays for itself by lowering your rate through interest savings in 2 years and you plan to be at your home for two years plus it could likely be a very good move to make at this time.

Average Note Rates on Loans Today are Very Close to 50 Year Lows.

To give you an idea as to some of the loans that we  made this past quarter, we helped:

  • Two clients buy retirement homes in Redding. One client from the Mid-West and another from Sonoma County.
  • Several clients out with near 50 year low rates on Home Purchases and Refinances.
  • A couple take cash out with a standard conventional loan to remodel their home.
  • Several couples and individuals buy their 1 st homes. This is always a neat thing.
  • A gentleman obtain a Reverse Mortgage that was not getting very good service from a company down south. In addition, he wanted to be able to talk someone in person. I worked with this gentleman and it was very much a pleasure to close his reverse mortgage.

Special thanks to past clients and professionals for their business and referrals this past month including Steve J., Dorris, Mark, Rod, Jessica, Karen , Carolyn, Steve B., Jamie, Toni, Rudy, and Mike. We appreciate the confidence that you’ve placed in us in allowing us to take care of you and your clients, friends and families.


Summer 2016, Britain's Exit Good For Rates

08/13/2016

2nd QTR of 2016 - Home Loan Information

This past quarter real estate lending did pick up with a dip in rates as a result of Britain’s Exit from the EU. Our loans at AMS (Accelerated Mortgage Services) this past quarter were made up of 45% government loans and 55% conventional loans. The big news this coming October is that USDA has stated they will lower their upfront Funding Fee from 2.75% to 1.75%. This 1% drop can save a person up to $2,000 on a $200,000 purchase. What’s interesting on the larger scope is that the USDA Loan Program must be on pretty solid footing to lower a fee like this vs. just after the meltdown when these fees were going up. This is good news when you read a bit deeper into the fee story.

In the government mix we made FHA and VA Loans this past quarter. FHA loans made up the majority of our government loans this past quarter. VA brought up a close 2nd. With the lower rates in all loan categories consumers are getting opportunities to streamline refinance FHA and VA loans again which means no appraisal, income or asset qualification saving borrowers time and money. We have no underwriting fees on our VA loans and very little Origination if any on most of our loans for over a year now. At this time we are also donating $150 per month to our local Veterans Resource Center to help our local veterans with their needs and to help them get back on their feet.

Average Note Rates on Loans Today are Very Close to 50 Year Lows.

To give you an idea as to some of the loans that we made this past quarter, we helped:

  • A young couple and their 6 kids to buy their 1st home through the VA loan program. 3 girls in one room, 3 boys in another and mom and dad in the 3rd—a busy household.
  • A young single mom and her daughter purchase their 1st home through an FHA loan.
  • A couple take cash out with a standard conventional loan to remodel their home.
  • A couple obtain a Reverse Mortgage to do some major remodeling to their home in addition to taking some money out to dedicate toward vacations with their kids and grandkids to create memories. Very nice!
  • A couple in Illinois to buy a 2nd home in CA—closer to family when they retire.

Special thanks to past clients and professionals for their business and referrals this past month including Dorris, Mark, Rod, Becky, Carolyn, Jamie, Toni, Rudy, and Steve. We appreciate the confidence that you’ve placed in us in allowing us to take care of you and your clients, friends and families.


Spring 2016, Steady As She Goes!

06/03/2016

1st QTR of 2016 - Home Loan Information

This past quarter was a little up---a little down---average in the end. I think there is some concern that the Federal Reserve does want to move rates up which will in the end increase our mortgage rates. Consumers are keeping a close eye on this and refinancing and buying while the rates are still low. The problem for the Federal Reserve is that both nationally and internationally it doesn't appear that world economies are on fire so it is hard for them to increase rates when we are trying to get our economies clipping along in a steady but upward fashion.

Government loans made up 35% of our loans this past quarter while conventional loans made up the remainder. The big news this quarter is that USDA is lowering their fees on October 1st of this year from 2.75% to 1% up front and from .5% to .35% annually at a huge savings to 1st time homebuyers. This is a significant savings for our borrowers. An Interesting note-- FHA lowered their fees last year at about the same time. The take away is that Government Loan Program balance sheets must be stronger than in years past allowing them to lower their fees.

In the government mix, VA loans made up the majority of our government loans. We pride ourselves in doing a very good job with all loans but we do an especially nice job with the VA Loans. We are familiar with the requirements of this loan, have lenders that don't charge an underwriting fee and can close them quickly. Often within 30 to 40 days. We also continue to give back to the veterans by donating monthly to our local Veterans Resource Center to help our local veterans in need.

Average Note Rates on Real Estate Loans Today Are Still Very Close to 50 Year Lows.

To give you an idea as to some of the loans that we made this past quarter, we helped:

  • A young veteran and his family increase their score so that they could buy their 1st new home through the VA loan program. 6 kids---3 in each room. Got to love it!
  • Saved a veteran $3600 in loan costs vs. what an out of area lender offered.
  • Helped a professional buy a 4-Plex at a very nice rate using a conventional loan.
  • Helped a single man payoff a private party loan on his double wide manufactured home.
  • Helped several couples and individuals buy their first homes---pretty exciting!

Special thanks to past clients and professionals for their business and referrals this past month including Brad, Corey, Steve, Terri, Suzanne, Carl, Jamie, Toni, Mark, Becky, and Carolyn. We appreciate the confidence that you've placed in us in allowing us to take care of you and your clients, friends and family.


Quarter 4 2015 Home Loan Information

01/27/2016

This past quarter real estate lending has been steady at AMS (Accelerated Mortgage Services) with government loans making up 53% of our loans and conventional loans making up the other 47%. The big news this past quarter was that the Federal Reserve finally raised the Fed Funds Rate ¼%. In general this is a sign the Federal Reserve feels the economy is getting better. Although I see some signs of an improving economy in steady real estate values and employment there are still some economic concerns with China’s economy slowing and the net affect thus far has had little effect on mortgage rates at this time.

Average Note Rates on Real Estate Loans Today Are Still Very Close to 50 Year Lows.

In the government mix we made FHA, USDA and VA Loans. VA loans made up the majority of our government loans. We pride ourselves in doing a very good job with all loans but we do an especially nice job with the VA Loans. We are very familiar with all of these loans and have lenders that don’t charge an underwriting fee and can close them quickly. At this time we are also donating $100 per VA loan closed to a local Veterans Center to help our local veterans with their needs to help them get back on their feet.

To give you an idea as to some of the loans that we made this past quarter, we helped:

  • We helped a veteran from Southern California buy a home in Redding to retire in.
  • Helped a couple obtain a reverse mortgage to eliminate their monthly payments.
  • Made a low rate USDA loan to a couple in need of more room for them and their 4 adopted kids.
  • Helped a couple payoff a higher rate VA loan saving them close to $8,000 in interest saving per year, Wow!
  • Helped one of our favorite Doctors obtain a 2.875% fixed 15 year loan, very nice.
  • Helped a few other couples to buy their first homes and 2nd homes, pretty exciting!

Special thanks to past clients and professionals for their business and referrals this past month including Carolyn, Dale, Carl, Terri, Tammy, Mark, Cory, Steve, Jay, Rudy, and Shelley. We appreciate the confidence that you’ve placed in us in allowing us to take care of you and your clients, friends and families.


Quarter 3 2015 Home Loan Information

10/24/2015

In this past quarter, 62% of our loans were purchase money loans and 38% were refinance loans.   Of these loans, 58% were conventional, 25% were FHA and 5% were USDA and 12% were VA loans.  We also make Reverse Mortgages; they fall into the FHA category. 

What's New

On October 3rd the industry had one more disclosure change which is good for the consumer in that it allows 3 additional days  to review the loan terms prior to signing loan documents.  This is good as the real estate loan is often one of the largest financial transactions people make and this process should not be rushed.  It should be thought out and this gives the consumer a little more time to make sure they are comfortable with the payment, the rate, the terms of the loan etc.

Average Note Rates on Loans today are within 3/8% off  50 year lows!

This past quarter, we helped:

  • Two educational  professionals purchase homes in Trinity County.
  • A single mom buy a new home for her family in  the right school district.
  • A young couple buy their first home with no  money down in Siskiyou County.
  • Several clients get back into the housing market  after past housing events (Foreclosures, Short Sales). This is pretty common  today in the wake of The Great 2009 recession.
  • A couple of our clients place a commercial loan  with a local bank so they could raise the money needed to buy the home of their  dreams.

Special thanks to past clients  and friends including Steve, Corey, Graceyn, Jamie, Toni, Jay, Tom, Jim and  Janice, and Shelley.


Will Rates Rise?

07/09/2015

Summer 2015-Will Rates Rise?

The question I am hearing more and more today is when do I think rates will start to go up again? My answer is that it’s hard to say. Our rates in the U.S.A. today are more and more dependent on what is going on in the world economy as opposed to just our U.S. economy. Note that Greece is having financial difficulties, China is experiencing a bit of a bubble in their stock market. The U.S. appears to be doing well with job creation. All this balances out to a steady as she goes with rates with maybe a fed funds increase in rate by the end of the year. If we do get an increase I expect it to be very small so I think we can expect rates to be close to where they are at today through the remainder of the year. 

This past ¼ 35% of the loans made were Conventional Home Loans, 35% were VA and 30% were FHA Home loans. USDA really tightened down on their Debt to Income guides so we are seeing less of these loans today compared to say two years ago but they are still and excellent loan for the 1st time and or rural (out of the city limits) home buyer. We pride ourselves in doing a very good job with all loans but we do an especially nice job with the VA Loans. We are familiar with the requirements of this loan, have lenders that offer about the lowest rate out there and don’t charge an underwriting fee and we can close them quickly. At this time we are also donating $100 per VA loan closed to our local VRC (Veterans Resource Center). The VCR helps our local veterans with their needs to help them get back on their feet. 

To give you an idea as to some of the loans that we made this past quarter, we helped:

  • Several veterans purchase new homes with their low rate VA loans
  • A couple retirees to refinance their homes with conventional loans lowering their rates so that their interest rate savings helped to pay for the refinance within 2 years or less.
  • Helped a school administrator and his wife purchase a home using an employment contract in lieu of a paystub allowing us to close 30 days sooner than a competitor. 
  • A past client with a cash out refi used to purchase some equipment for his business. 
  • Helped other couples to buy their first homes and 2nd homes after difficult housing events in their recent past---pretty exciting!

Special thanks to past clients and professionals for their business and referrals this past month including Jay, Rod, Mark, Carl, Brad, John, and Greg. We appreciate the confidence that you’ve placed in us in allowing us to take care of you and your clients, friends and families.