As more military service members and veterans enter the housing market, it’s important for them to have real estate agents who are up to date on VA loans and market trends to guide them through the purchase process.
In fact, VA loans have a higher closing rate percentage than both FHA and conventional loan products.
Data from the most recent Ellie Mae Origination Insight Report provide a detailed look into the housing market and show VA purchases closed at a rate of 73.9%, significantly higher than FHA purchases at 62.1% and conventional purchases at 68%.
What does this mean for agents? It means that VA loans are reliable and VA buyers are more likely to close on their home once under contract.
To Read The Entire Article, Please Click Here!
To find out what you qualify for with a VA or FHA loan give us a call today!
The Easterbrook Team with Sierra Pacific Mortgage
John Easterbrook NMLS# 226555
P: 916.224.7653
Patty Aguon NMLS#994635
P: 916.833.5063
EasterbrookTeam@spmc.com
806 Bidwell Street
Folsom, CA 95630
Tuesday, September 15, 2015
Monday, September 14, 2015
Selling Your House Next Spring? 5 Fall Projects to Do Now
Planning on selling your home in the spring? Good news — that leaves plenty of time to tackle all sorts of projects this fall that will help you snag top dollar when the tulips start blooming. Take an objective look around your home from a buyer’s perspective. What would stop you from making an offer? What do you need to do to put your home’s best face forward?
Here are some fall projects to jump on now in order for your home to be in tip-top shape for a spring sale:
Here are some fall projects to jump on now in order for your home to be in tip-top shape for a spring sale:
1. Update Your Curb Appeal
To Read More See Below
To Read More See Below
Read more: http://www.houselogic.com/home-advice/home-thoughts/selling-your-house-projects/#ixzz3ljXQoXRk
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Looking for a Lender and an Agent? Look no further! The Easterbrook Team has the skills to match our interested clients with top producers in the area. We will match you with someone who we feel will fit your personality the best. Get prequalified today!
The Easterbrook Team with Sierra Pacific Mortgage
806 Bidwell Street Folsom, CA 95630
John Easterbrook & Patty Aguon
NMLS# 226555 & 994635
916-850.6050
EasterbrookTeam
Foreclosures Down 68% From Peak
Foreclosures are falling fast. Since reaching a peak in September 2010, the number of foreclosures has plunged 68 percent – from 117,225 nationwide to 38,000 as of July, according to CoreLogic's July 2015 National Foreclosure Report, released this week.
In the past year alone, foreclosure inventory has fallen by nearly 28 percent and completed foreclosures have dropped about 24 percent. Completed foreclosures are the total number of homes actually lost to foreclosure.
Since the financial crisis began in 2008, about 5.8 million completed foreclosures have occurred across the country.
To Read The Entire Article, Please Click Here!
To Discuss Your Home buying & Refinancing Needs, Please Contact The Easterbrook Team
John Easterbrook & Patty Aguon
NMLS# 226555& 994635
John-916.224.7653
Patty-916.833.5063
Team-916.850-6050
Email-EasterbrookTeam@spmc.com
In the past year alone, foreclosure inventory has fallen by nearly 28 percent and completed foreclosures have dropped about 24 percent. Completed foreclosures are the total number of homes actually lost to foreclosure.
Since the financial crisis began in 2008, about 5.8 million completed foreclosures have occurred across the country.
To Read The Entire Article, Please Click Here!
To Discuss Your Home buying & Refinancing Needs, Please Contact The Easterbrook Team
John Easterbrook & Patty Aguon
NMLS# 226555& 994635
John-916.224.7653
Patty-916.833.5063
Team-916.850-6050
Email-EasterbrookTeam@spmc.com
Communication with an Appraiser
Dos and Don'ts of Appraiser Communication
Forget the rumors that you have to keep silent. But that doesn’t mean your communications still can’t get you in trouble.
Real estate professionals and appraisers both play an essential role in the process of buying or selling a home. It is critical that these two parties work together to ensure that an appraiser provides an independent, impartial, and objective opinion of value that accurately reflects the marketplace. However, we often hear from brokers and agents that they’re unaware of how much interaction they may have with an appraiser, what they’re allowed to say, and what information they can provide. Some incorrectly believe that they are prohibited from speaking to an appraiser at all
The Easterbrook Team with Sierra Pacific Mortgage Company
John Easterbrook & Patty Aguon
NMLS#-226555 & 994635
806 Bidwell Street
Folsom, CA 95630
916-850-6050
Tuesday, September 8, 2015
The Short List: The 4 Things Agents Need to Know about Millennial Renters
We’ve all heard it – “the Millennial renters will soon make the leap to purchases.” The real question, though, is “when will these renters take that step?” How can we separate long-term renters from short-term renters?
From leasing over 220 apartments in 2015 to working with a management company owning 2,000+ units, we’ve noticed a trend – Millennial renters coming to the realization that the dream of owning may be a bit further than they had initially thought.
With that in mind, we’ve compiled a short list of four important elements of Millennial renters, which can help agents prospect and convert renters to buyers.
4. Millennial renters are worried about rent renewal increases. As many renters are aware, landlords often increase rent year over year. When signing a lease with potential tenants, the question of “how much will my rent increase next year?” seems to be the main concern for many Millennial renters. This year more than ever, our tenants have placed an emphasis on staying in their current apartment until they can afford to purchase or are moving to another apartment.
Renters are looking forward with the mindset of how will rent increases impact their ability to purchase in the near future. If rent increases, their first choice is to look on Craigslist for roommates to bring down expenses or move to another apartment in a slightly cheaper neighborhood. With social media playing a significant role, it is even easier to find sublets & roommates.
Not only do renters worry about rent increases – they also worry about job security and salary. Millennials starting a new career do not have the salary necessary to purchase or enough money saved for a down payment. Top that with student debt, medical bills and roommates, and you have yourself a recipe for a longer-term renter.
To read the top 3 reasons click below.
- See more at: https://chicagoagentmagazine.com/the-short-list-the-4-things-agents-need-to-know-about-millennial-renters/#sthash.4wVizW9e.dpuf
To discuss becoming a homeowner and or refinancing your loan today give The Easterbrook Team a call at 916-850-6050 or e-mail: easterbrookteam@spmc.com
From leasing over 220 apartments in 2015 to working with a management company owning 2,000+ units, we’ve noticed a trend – Millennial renters coming to the realization that the dream of owning may be a bit further than they had initially thought.
With that in mind, we’ve compiled a short list of four important elements of Millennial renters, which can help agents prospect and convert renters to buyers.
4. Millennial renters are worried about rent renewal increases. As many renters are aware, landlords often increase rent year over year. When signing a lease with potential tenants, the question of “how much will my rent increase next year?” seems to be the main concern for many Millennial renters. This year more than ever, our tenants have placed an emphasis on staying in their current apartment until they can afford to purchase or are moving to another apartment.
Renters are looking forward with the mindset of how will rent increases impact their ability to purchase in the near future. If rent increases, their first choice is to look on Craigslist for roommates to bring down expenses or move to another apartment in a slightly cheaper neighborhood. With social media playing a significant role, it is even easier to find sublets & roommates.
Not only do renters worry about rent increases – they also worry about job security and salary. Millennials starting a new career do not have the salary necessary to purchase or enough money saved for a down payment. Top that with student debt, medical bills and roommates, and you have yourself a recipe for a longer-term renter.
To read the top 3 reasons click below.
- See more at: https://chicagoagentmagazine.com/the-short-list-the-4-things-agents-need-to-know-about-millennial-renters/#sthash.4wVizW9e.dpuf
To discuss becoming a homeowner and or refinancing your loan today give The Easterbrook Team a call at 916-850-6050 or e-mail: easterbrookteam@spmc.com
Tuesday, September 1, 2015
How to Score a Deal on a Home After School Starts
Wow, is it back to school time already? Not a moment too soon! Parents everywhere are high-fiving as their kids finally return to classes. (And can you really blame them?)
But with summer sputtering to a close, parents aren’t the only ones who should be celebrating. Would-be home buyers, rejoice! If you’re looking for a good deal on the right home, now is your time.
Maybe you thought spring and summer were the prime time for buying. Truth is, the end of summer has some distinct advantages for home buyers who aren’t tied to the academic calendar.
So, with the kiddos back in school, you might be able to swoop in and score a deal. Here are four ways to make it happen.
1. Stop procrastinating and get started
2. Ask for concessions, but stay flexible
3. Take your time
4. Research comps—and be ready with the right offer
To Read This Entire Article Click Here!
To Discuss Your Home Buying Options
Easterbrook Team with Sierra Pacific Mortgage
John Easterbrook (NMLS#226555) and
Patty Aguon (NMLS#994635) can both be reached at
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Do You Have Lender Paid Mortgage Insurance?
Mortgage Insurance vs. LPMI
Do You Have Lender Paid Mortgage Insurance?
When purchasing a home with a loan, in
addition to this being a great idea, you are required to have homeowner’s
insurance (sometimes called fire insurance or hazard insurance). Contact your Insurance Agent to
provide you with that type of coverage. When your loan to value is over 80% on
your loan, mortgage insurance is
typically required.
Mortgage insurance is entirely
different from other types of insurance in that it covers the lender against a loss. There are several factors that determine the
cost of mortgage insurance – FICO score, loan to value, and loan type. The standard option for most buyers is monthly
mortgage insurance. There
is, however, another excellent money saving option – Lender Paid Mortgage
Insurance (or LPMI).
LPMI
is paid by the lender by slightly increasing the rate. Typically, the higher the buyer’s FICO score,
the lower the cost of the LPMI. Unlike
most lenders that offer LPMI, Sierra Pacific Mortgage offers savings for
borrowers beyond 740 FICOs. If you are a
higher FICO buyer requiring or currently having to pay mortgage insurance, then
call us for a comparison—you’ll probably be able to save some money.
On a $400K purchase at 95% loan to value, the typical buyer with
a 740 FICO will save over $135 per month over traditional monthly mortgage
insurance. In addition, LPMI may allow
them to buy more house!
Another benefit of LPMI is for borrowers that want to refinance
out of their monthly mortgage insurance, but don’t have the 20% yet in equity
to remove it. LPMI bridges the gap to
entirely remove the mortgage insurance up to 95% loan to value.
As
home loan interest is typically tax deductible and mortgage insurance is
currently not, LPMI may provide additional tax savings too. Confirm with
your tax professional.
For LPMI or other mortgage questions, call the
Easterbrook Team at Sierra Pacific Mortgage.
John Easterbrook (NMLS#226555) and Patty Aguon (NMLS#994635) can
both be reached at (916) 850-6050. We
can also be emailed at easterbrookteam@spmc.com.
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