Wednesday, August 26, 2015
Any Benefit of Weekly Home Mortgage Payments?
A bi-weekly schedule beats a monthly one in terms of shortening the term of a home mortgage. Weekly payments, however, make little difference.
Typical borrowers make their mortgage payments monthly. Some, however, make bi-weekly payments to reduce the term of their loans. Could weekly mortgage payments speed the payoff even further?
The answer in some cases is yes—but usually not much more than with bi-weekly plans.
Converting to any schedule that increases payment frequency reduces the principal loan amount faster, resulting in less interest owed and a shorter mortgage term, says Jack Guttentag, professor emeritus of finance at the Wharton School of the University of Pennsylvania. The biggest benefit of weekly payments, however, is not cost savings, but convenience for people who are paid weekly and like to handle bills accordingly, he adds.
To View This Entire Article Please Click Here
To discuss your monthly payments and how you can reduce your monthly payment through refinancing and be able to afford increased payments call us today.
The Easterbrook Team with Sierra Pacific Mortgage
806 Bidwell Street
Folsom, CA 95630
916-850-6050
EasterbrookTeam@spmc.com
John Easterbrook
NMLS# 226555
916-224-7653
John.Easterbrook@spmc.com
Patty Aguon
NMLS# 994635
916-833-5063
Patty.Aguon@spmc.com
Typical borrowers make their mortgage payments monthly. Some, however, make bi-weekly payments to reduce the term of their loans. Could weekly mortgage payments speed the payoff even further?
The answer in some cases is yes—but usually not much more than with bi-weekly plans.
Converting to any schedule that increases payment frequency reduces the principal loan amount faster, resulting in less interest owed and a shorter mortgage term, says Jack Guttentag, professor emeritus of finance at the Wharton School of the University of Pennsylvania. The biggest benefit of weekly payments, however, is not cost savings, but convenience for people who are paid weekly and like to handle bills accordingly, he adds.
To View This Entire Article Please Click Here
To discuss your monthly payments and how you can reduce your monthly payment through refinancing and be able to afford increased payments call us today.
The Easterbrook Team with Sierra Pacific Mortgage
806 Bidwell Street
Folsom, CA 95630
916-850-6050
EasterbrookTeam@spmc.com
John Easterbrook
NMLS# 226555
916-224-7653
John.Easterbrook@spmc.com
Patty Aguon
NMLS# 994635
916-833-5063
Patty.Aguon@spmc.com
Tuesday, August 25, 2015
Mortgage Calculator for Faster Principal Reduction
Would you like a copy of our FREE mortgage calculator
that shows you how to reduce your principal balance at an accelerated
pace? It shows you that paying even an extra $100 per month toward your monthly mortgage payment can save you a
lot of money. This calculator will work for FHA loans, VA loans,
conventional loans, and jumbo loans. This is one of the best ways for a
first time home buyer to build equity fast. Also, if you’ve had a
bankruptcy or foreclosure and have lost everything, paying down your mortgage
is a strategic way to reacquire wealth. If you refinance and combine the
power of extra payments for faster equity reduction, you’ll have even more
equity quickly.
If you have a high loan to value and are wanting to
accelerate your mortgage principal reduction to get rid of mortgage insurance
on your home loan, our FREE mortgage calculator can help you too. Just
call or email us for a FREE copy.
You can call the Easterbrook Team at (916) 224-7653 or (916)
833-5063 or email us at easterbrookteam@spmc.com.
Monday, August 24, 2015
Good news: Homeowners spend like it's 2006
U.S. housing is finally lifting itself off the mat.
The latest evidence came from Home Depot (HD). The world's largest home improvement retailer on Tuesday revealed it experienced a record number of transactions in the last three months. On average, shoppers spent more than at any point since 2006 and sales at stores open for a year or more jumped 6%.To Read This Entire Article Please Click Here!
Contact The Easterbrook Team Today for Your Home Loan Needs
John Easterbrook
NMLS#226555
916-224-7653
John.Easterbrook@spmc.com
Patty Aguon
NMLS# 994635
916-833-5063
Patty.Aguon
The Easterbrook Team
806 Bidwell Street
Folsom, CA 95630
916-850-6050
Easterbrookteam@spmc.com
Wednesday, August 19, 2015
More millennials stuck renting for years before buying home
WASHINGTON
Home ownership, that celebrated hallmark of the American dream, is increasingly on hold for younger Americans.
Short of cash, burdened by student debt and unsettled in their careers, young adults are biding time in apartments for longer periods and buying their first homes later in life.
The typical first-timer now rents for six years before buying, up from 2.6 years in the early 1970s, according to a new analysis by the real estate data firm Zillow. The median first-time buyer is age 33 — in the upper range of the millennial generation, which roughly spans ages 18 to 34. A generation ago, the median first-timer was about three years younger.
The delay reflects a trend that cuts to the heart of the financial challenges facing millennials: Renters are struggling to save for down payments as wages have largely stagnated. Increasingly, too, they're facing delays in some key landmarks of adulthood, from marriage and children to a stable career, according to industry and government reports.
These shifts help explain why homeownership, long a source of middle class identity and economic opportunity, has started to decline. The share of the U.S. population who own homes has slid to 63.4 percent, a 48-year low, according to the Census Bureau.
To Read This Entire Article Click Here!
To Discuss How You Can Become A Home Owner Call The Easterbrook Team
916-850-6050 or E-Mail: Easterbrookteam@spmc.com
Short of cash, burdened by student debt and unsettled in their careers, young adults are biding time in apartments for longer periods and buying their first homes later in life.
The typical first-timer now rents for six years before buying, up from 2.6 years in the early 1970s, according to a new analysis by the real estate data firm Zillow. The median first-time buyer is age 33 — in the upper range of the millennial generation, which roughly spans ages 18 to 34. A generation ago, the median first-timer was about three years younger.
The delay reflects a trend that cuts to the heart of the financial challenges facing millennials: Renters are struggling to save for down payments as wages have largely stagnated. Increasingly, too, they're facing delays in some key landmarks of adulthood, from marriage and children to a stable career, according to industry and government reports.
To Read This Entire Article Click Here!
To Discuss How You Can Become A Home Owner Call The Easterbrook Team
916-850-6050 or E-Mail: Easterbrookteam@spmc.com
Tuesday, August 18, 2015
Seller motivation: ‘Have to’ versus ‘want to’ sellers
Takeaways:
If you want to read this entire article please click here!
If you would like to discuss selling or buying a home please give The Easterbrook Team a Visit, Call or E-mail!
The Easterbrook Team is with Sierra Pacific Mortgage located at 806 Bidwell Street in Folsom, CA. To reach John Easterbrook directly please dial 916-224-7653. To reach Patty Aguon directly please dial 916-833-5063. To reach them both via email use easterbrookteam@spmc.com
- Seller motivation is big for your real estate business.
- The important factors that determine how motivated any particular seller might be.
- Unmotivated sellers have a “take it or leave it” attitude, and that can result in expired listings.
If you want to read this entire article please click here!
If you would like to discuss selling or buying a home please give The Easterbrook Team a Visit, Call or E-mail!
The Easterbrook Team is with Sierra Pacific Mortgage located at 806 Bidwell Street in Folsom, CA. To reach John Easterbrook directly please dial 916-224-7653. To reach Patty Aguon directly please dial 916-833-5063. To reach them both via email use easterbrookteam@spmc.com
Monday, August 17, 2015
Whether They Rent or Buy, Millennials Don't Want to Drive!
There are more Millennials than there are boomers or Gen Xers, which may be one reason we in the real estate industry are so laser-focused on engaging them. We hear these 16- to 34-year-olds mostly live at home. (And not just the teenage ones!) Sometimes we hear they actually like the burbs. Reports say changes to down payment requirements may actually push them into the real estate market. City planners and developers take note: Millennials want to walk.
That’s the word from Tuesday’s report from the National Association of Realtors® and the Transportation Research and Education Center at Portland State University, which states that “millennials prefer walking over driving by a substantially wider margin than any other generation.” They surveyed 3,000 adult Americans in the 50 biggest metro areas.
To Discuss Your Home buying Opportunities Please Call The Easterbrook Team at 916-850-6050 or Email: Easterbrookteam@spmc.com
Tuesday, August 11, 2015
Expect the Unexpected When Buying a Home.
5 Unexpected Lessons When Buying a Home (From People Who’ve Done It Before)
Like so many (if not all!) first-time home buyers, I have no earthly idea what I’m doing. Sure, I can read up on all the buying and finance advice we offer here at realtor.com®. Of course, I can consult with my real estate agent and my mortgage broker. But if there’s one thing I keep hearing from those who’ve forged the path ahead of me, it’s that when you buy a home for the first time, you’re constantly faced with things you didn’t know you didn’t know.So, before I embark, I thought I’d minimize some of those surprises and take advantage of my home-owning co-workers’ experience. They shared these personal anecdotes of surprises they encountered on the road to homeownership. I hope this will help prepare you—and me—for what lies ahead:
To read the 5 unexpected lessons and this article in it's entirety please click here!
To receive an open and honest approach through the turbulence of buying a home please contact
The Easterbrook Team via phone or email.
John Easterbrook Patty Aguon
916-224-7653 916-833-5063
NMLS#226555 NMLS#994635
916-850-6050
Your Home Buying Experience at it's Finest
Monday, August 10, 2015
3 Home Improvement Projects that Last a Lifetime
Thinking of remodeling your home? Before you splurge on a finished basement or a new kitchen, make sure you choose a home improvement project that will add to your home's lifetime value. Check out Remodeling Magazine's 2015 Cost vs. Value report for projects with the highest ROI. Three home improvement projects we like:
To Discuss Purchasing a Home Give Team Easterbrook a Call or Email!
916-850-6050
Ask for John or Patty!
John Easterbrook
NMLS#226555
916-224-7653
Patty Aguon
NMLS#994635
916-833-5063
Wednesday, August 5, 2015
Mortgage applications jump a solid 4.7% in last week of July
Mortgage applications increased 4.7% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 31, 2015.
The Market Composite Index, a measure of mortgage loan application volume, increased 4.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 5% compared with the previous week.
The Refinance Index increased 6% from the previous week. The seasonally adjusted Purchase Index increased 3% from one week earlier. The unadjusted Purchase Index increased 3% compared with the previous week and was 23% higher than the same week one year ago.
“Despite recent concerns about the economy, both purchase and refinance applications increased strongly in response to lower interest rates last week,” said Lynn Fisher, MBA’s Vice President of Research and Economics. “Refinance activity was the highest since May when rates were last at this level. The increase in purchase activity was also notable for this time of year, up 23% relative to a year ago.”
To discuss starting your loan application with The Easterbrook Team, give us a call at 916-850-6050 or email: easterbrookteam@spmc.com
John Easterbrook
NMLS# 226555
Patty Aguon
NMLS#994635
Tuesday, August 4, 2015
56 Safety Tips for REALTORS®
Share knowledge, awareness, and empowerment with your members year-round
Keep a strong focus on REALTOR® Safety throughout the year when you share these safety tips with your members every week. You can post them on your website, add them to your newsletters, or email them directly to your members.
Feel free to re-arrange the tips if you like. Regardless of when you send them, these weekly tips will help remind our members of the tenets of REALTOR® Safety: knowledge, awareness, and empowerment.
All tips are taken from NAR's REALTOR® Safety Resource Kit. Direct your members to your own association website or to NAR's safety web pages at www.REALTOR.org/Safetyfor more information on the important topic of REALTOR® safety.
John Easterbrook
NMLS# 226555
Sierra Pacific Mortgage
806 Bidwell Street
Folsom, CA 95630
916-224-7653
EasterbrookTeam@spmc.com
Patty Aguon
NMLS# 994635
Sierra Pacific Mortgage
806 Bidwell Street
Folsom, CA 95630
916-833-5063
EasterbrookTeam@spmc.com
Monday, August 3, 2015
Why You Shoud Be Your Own Landlord!
Super basements proliferate in Silicon Valley
MENLO PARK, CALIF.
When architect Roger Kohler began designing them years ago, basements weren't luxury statements.
He would tuck a subterranean guest room here, a mechanical room there. The lighting was only adequate, the ceilings sometimes just 7 feet high. You practically had to stoop while walking through: "It was grim," he said.
But it's dank and dark no more.
"You see the light in here? It's incredible," Kohler said, walking through a client's sunny - yes, sunny - basement, all 2,200 square feet of it, airy with 9 1/2-foot ceilings. There's a fitness center with a row of exercise machines, flat-screen TV and plush armchairs for hanging out. There's a window-lined living room and a spacious bedroom with glass doors opening onto a European-style courtyard that sits at the base of a 12-foot whitewashed retention wall.
Dig, dig, dig.
There was a time when California houses often sat on concrete slabs. Now basements are everywhere as land values skyrocket in Silicon Valley and around the Bay Area.
To Discuss Your Financing Options Please Contact The Easterbrook Team
916-850-6050 or email easterbrookteam@spmc.com
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