I just don’t know if they can. Rates as low as 4% for a 30 year fixed loan are virtually unprecedented in our life time. If you are waiting for rates to go lower I just don’t think they are going to. I reveiwed the history of the ten year bond recently and over the last 60 years there has been only one other time the yeilds have been this low and that was during the economic freefall we experienced in 2008. If you look at the average values of real estate in 2006 coupled with the 2 percent higher interest rates and look at the demand then, one can only assume we are at the bottom looking up. Call me with questions or concerns. Happy to help all of Sonoma County home owners. “Hunt for your loan”.

Are you a Sonoma County home owner wishing you could take advantage of the low rates but think that you cant because your house has depreciated below 80% LTV or that your self emplyed income is too low. Well you are in luck. The gov’t has come out with a new loan program allowing owner occupied borrowers the abitly to do a rate and term Refi with a stated income and stated assets up to 95% loan to value with no mortgage insurance requirement. You will need to have a decent credit rating but this is just the answer for many home owners in Sonoma County. Single family Non owner occuppied loans are also availbe to 90% loant to value. Give me a call at 707-431-9715 or shoot me an email at hunt.conrad@prospectmtg.com.

I am an expereinced mortgage lender you can trust.

The Real Estate Mortgage Apprasial process is really tough on everybody these days. The biggest problem is that as a Sonoma county lender I have seen as much as a 30% decline in some area values over the last 2 years. The perceived “mental equity” makes it tough on sellers to come to grips with the reality that, if they want to sell their homes, they are going to have to make a serious concesion to what they think there house is worth because the comps out there will not support what they want. Refinances also are experiencing great scrutiny by lenders because of the declining value.

As a first time home buyer, you are probably looking at homes in the lower price range and because of the strong foreclosure market, there have been a lot of sales and comps for apprasialers to use. But that won’t stop a lender from asking for a second or reveiw apprasial. This appraisal is usually done on a computer by some one not local or familiar with the area of the subject property. Having relationships in the past with appraisers was a great benefit to the borrowers and the entire real estate industry but regulators spurred on by ignorant politicians have imposed a new layer of separation, asking us mortgage lenders to use complete strangers not only to us, but to the area. This has created an apprasial process that is inaccurate in general and disfunctional at best.
There are no real safe guards against a “bad” apprasial but as a Sonoma County Mortgage lender for 20 years I can have a few things I can do that can protect a borrower from an unexpected apprasial value. An internet lender can’t possibly see the problems coming but I can. Give me a call to see how I can make your appraisal and entire mortgage loan process be a smooth and effective one especially in these turbulent times. 707-431-9715. hunt.conrad@prospectmtg.com