Direct Access

There’s another little tidbit that could benefit your buyers.  VA will allow cash out refinances (not all lenders do though) of up to 100%!  This is, to our knowledge, the only product on the market that allows this. 

We also have a unique advantage when it comes to VA and other loans – Patty Aguon.  She had (until she became a retail loan officer) been underwriting VA, FHA, conventional, and jumbo loans for the last 15 years.   She also was the Operations Manager and Underwriting Manager for two of the area’s largest loan companies.  Imagine – having direct access to the underwriting manager – now you do!

Check out OUR rates, we’ve got some of the best in town!

Based in Folsom, California, Sierra Pacific Mortgage has 144 offices nationwide. The Easterbrook Team at Sierra Pacific is associated with the #1 office in the nation for SPMC for 2015.  We want to thank you so much for the support.  Come by and visit our office at 806 Bidwell Street in Folsom.  Keep the loans coming and we’ll keep closing them at lightning speed with a positive, smooth, and transparent experience.  Call us at (916) 850-6050.    

VA is Also Hero of the Loan World

With true 100% financing, eligible vets can take full advantage of the benefit that they’ve earned through their service.  VA does not have a loan limit either.  VA will go 100% to $474,950 and 75% of the purchase price for the difference over up to the purchase price.  For example, using VA, the down payment on a $600K purchase would be approximately only 94%.  No other loan type can touch that!  In addition, there is no mortgage insurance!  There is a funding fee added to the loan, but some vets are exempt – call us for details.  

Check out OUR rates, we’ve got some of the best in town!

Based in Folsom, California, Sierra Pacific Mortgage has 144 offices nationwide. The Easterbrook Team at Sierra Pacific is associated with the #1 office in the nation for SPMC for 2015.  We want to thank you so much for the support.  Come by and visit our office at 806 Bidwell Street in Folsom.  Keep the loans coming and we’ll keep closing them at lightning speed with a positive, smooth, and transparent experience.  Call us at (916) 850-6050.    

Hands Up for Hooters Bike Ride, June 4, 2016

Spark Your Creativity

So, you have decided that you want to change things in your business and your life.

You feel that you are stuck in a rut and just can’t seem to get out of it.

You sit down to write social media posts and can’t think of anything to say.

Your real estate business is going nowhere and you realize that you have to change the way you are doing business.

Or, you’ve reached a pinnacle of success and now you want more.

That’s where creativity is your friend.

Here’s the thing — we constantly hear about artists who have a “natural talent.” In reality, talent has little to do with it.

Creativity is a skill, just like playing baseball. It can be developed. It takes practice.

So, if you’d like to “learn” how to become more creative when it comes to your business, social media or marketing strategies, here are nine ways (that the experts suggest) to jump start your creativity.

1. Doodle – In the book The Doodle Revolution, Suni Brown says that people like Henry Ford and Steve Jobs used this method. It can activate unique neurological and cognitive breakthroughs. Try it for 10 minutes and see what happens.
2. Sign Up for Something You’ve Never Done Before – Push yourself outside your comfort zone. Sign up for an adult education class. Try painting, pottery or something artistic in nature. This is the “practice” part of the equation.
3. Create an Environment – It’s all about location! Leave your office. Go to Starbucks or a park. Or close the door with a Do not Disturb sign. The goal is to create a place where you feel relaxed or stimulated — but with no distractions and no judgmental comments from others.
4. Move Your Body – Go for a walk. A hike. It’s been shown that physical movement has a positive effect on creative thinking.
5. Use a Notebook – Carry it with you wherever you go. When an idea pops into your head, write it down—and don’t judge it. Some of your ideas will not see the light of day. Others may not work “right now.” Review what you have written every 30 days and you’ll be surprised that some of your ideas can actually be implemented.
6. Keep Toys on Your Desk/Drawer – Think Lincoln Logs, Legos, Rubik’s Cube. Do something creative with your hands and mind.
7. Practice Writing – Short stories. Fiction. Real-life scenarios. Only 100 words, but with a beginning, middle and end to the story.
8. Take the 30-Circle Test – Draw 30 circles on a piece of paper and, in one minute, adapt as many circles as you can into objects. One circle could become the sun. Another could be an apple. Take quantity over quality. Here’s a link to a TED talk by Tim Brown and download a PDF with the circles already drawn for you.
9. Role Play – Even if you already know or feel what something else is thinking, physically role-play situations where you place yourself in the role of “your clients” and have someone ask you questions or make a presentation to you. It’s like producing your own “play.” Note how YOU react to being the client instead of the real estate guru.

So, what do you do to get into a creative mood?

 

Based in Folsom, California, Sierra Pacific Mortgage has 144 offices nationwide. The Easterbrook Team at Sierra Pacific is associated with the #1 office in the nation for SPMC for 2015.  We want to thank you so much for the support.  Come by and visit our office at 806 Bidwell Street in Folsom.  Keep the loans coming and we’ll keep closing them at lightning speed with a positive,

When Recasting is Good

While many homeowners are familiar with the option of refinancing their mortgage, not all homeowners understand loan recasting. This may be because not all lenders offer recasting or re-amortizing, and not all borrowers are eligible. However, the process could save your buyers money in two ways: by reducing their monthly mortgage payment, and by allowing them to avoid the cost to refinance.

Essentially, a loan recast means that while the interest rate and the loan term remain unchanged, the monthly mortgage payment is reduced to reflect the actual current loan balance. For example, if a borrower is 6 years into a 30-year mortgage, once the loan is recast, there are only still 24 years remaining to pay it off. For recasting to work, lenders require an additional lump sum payment to reduce your balance. The size of that additional payment impacts how much savings will be on the loan recast. However, instead of recasting, a borrower could pay a lump sum toward the existing loan, but it would not decrease the balance, but not reduce the monthly mortgage payment.

How Loan Recasting Works & Why It’s Important

Loan recasting can make sense if you inherit money (or receive a significant bonus at work) and wish to apply it to the balance on your mortgage. Reducing the balance ahead of schedule, the borrower ultimately will pay less interest. This then enables lenders to recast a loan, or recalculate a monthly mortgage payment.  Best of all, it is a very low cost – and sometimes no cost – much less expensive than a refinance.

Based in Folsom, California, Sierra Pacific Mortgage has 144 offices nationwide. The Easterbrook Team at Sierra Pacific is associated with the #1 office in the nation for SPMC for 2015.  We want to thank you so much for the support.  Come by and visit our office at 806 Bidwell Street in Folsom.  Keep the loans coming and we’ll keep closing them at lightning speed with a positive, smooth, and transparent experience.  Call us at (916) 850-6050.    

There’s a Storm Brewing- Bad Recasting

Feeling the pressure of a soon-to-reset second mortgage? You're not alone.

According to Black Knight Financial Services, more than 3 million U.S. homeowners will experience a second mortgage recast within the next few years.  A "recast" is when the initial 10-year, interest-only period of a home equity line of credit (HELOC) ends, and the loan is converted to a fixed-rate, amortized loan at a new interest rate over some number of years -- usually 15.

 

The effects of a recast can be large. The typical U.S. household will see payments increase $261 per month.  A $261 increase won’t break most folks, but if they had a larger home equity loan, say a $150K loan, the payment could be over $1,000 – that could put some people in real trouble.

 

The good news is that, because the housing market is strong and because current mortgage rates are low, homeowners with an existing second mortgage are in good position to refinance.

A refinance of a second mortgage can eliminate the possibility of a recast; or, at least, stave it off for another 10-year draw period.  If you know of one of your clients that is in trouble, we’d love to help them out. 

Based in Folsom, California, Sierra Pacific Mortgage has 144 offices nationwide. The Easterbrook Team at Sierra Pacific is associated with the #1 office in the nation for SPMC for 2015.  We want to thank you so much for the support.  Come by and visit our office at 806 Bidwell Street in Folsom.  Keep the loans coming and we’ll keep closing them at lightning speed with a positive, smooth, and transparent experience.  Call us at (916) 850-6050.    

Tech Up Your Open House

Using Technology at Open Houses

 

Do you want to separate yourself from the competition and make yourself shine for potential buyers and the seller?  Here are 5 simple ideas that can make you look like a techie and win the day:

 

360 Degree Camera or App

Create a virtual open house, including each room, so you can email a follow-up reminder of what the home looked like to those who attended the open house.  You may also want to email a link to the video to past clients who you think might be interested in that type/style of home. 

 

iPad or Tablet

Preloaded with pictures, mortgage information, schools, events, neighborhood/city information.  Create bullet points so it’s easy to read.  And, it’s easy to update as key stats change.  Instead of a printed flyer, hand them the device to read while waiting to view the home or going from room to room.

 

Slide Show Presentation

Ask the seller for photos of the home during different seasons of the year.  Take photos of local parks and attractions where someone might bike, hike, ski or work out.  Not only will this give them a sense of living the house, but living in the community as well.  

If the home is equipped with “smart technology,” like a remote heat and air conditioning setting apps, video security or smart appliances, be sure to not only mention it, but learn how to demonstrate those features. 

To make your dreams come true, Call The Easterbrook Team for your refinance and purchase needs.

916.850.6050 easterbrookteam@spmc.com 

John Easterbrook NMLS#226555

Patty Aguon NMLS#994635