Irene Moustakas is a California-licensed Mortgage Broker who helps people strategically finance their real estate goals.
DRE # 01419531
DRE # 01419531
Information
- Location:
- Cupertino, CA, 95014
- Phone:
- 408.257.1681 or 877.745.5522
I saw some unbelievable interest rates this week and they’re still going strong. My experience is that they don’t last long, so if you can, I definitely recommend taking advantage. An...
Loans by Irene - Granite Financial 117,394 signatures and counting ... Keep them coming! If you haven't signed the petition yet, please do so: www.hvccpetition.com
The $8000 federal tax credit has been extended and expanded! The credit, which was supposed to expire 12/1/09, has now been extended to 4/30/10. In addition, there will be a 60-day extension if you go into binding and official contract prior to April 30th...
Congress voted and approved a one-year extension on the temporary FHA, Fannie Mae and Freddie Mac loan limits. The loan limits vary by county, but are established by taking 125% of the county’s median home price and determining that as the upper limit, with $729,750 being the absolute maximum. ...
There are rumors that the 1st time homebuyer tax credit will be extended, but at this moment, it is technically expiring on November 30th (must close escrow before 12/1/09)...
Loans by Irene - Granite Financial
I'm not sure how much you'll get from this, but it's interesting. Check out www.recovery.gov
Of the $787B government stimulus package, it shows how much has been awarded, how much has been spent and how many jobs it has created, all by state
www.recovery.gov
Prime and sub-recipients of Recovery Act awards have reported on how the money was used. As of Oct. 10, there were 112,219 reports filed into FederalReporting.gov: 8,927 federal contracts, 102,901 grants, and 391 loans. Source: FederalReporting.gov
Loans by Irene - Granite Financial When there aren't any economic reports released, mortgage bonds tend to trade based on the stock market. If the stock market is doing well (i.e. good reported earnings can be a driver), then mortgage bonds don't trade as nicely; therefore, interest rates start tricking upwards. Good rally in stocks = increasing intere...st rates. Just a tidbit of info for you on this Monday morning.
This is the time of year when the 1st installment of property taxes are due. Their due date is November 1st and their “late” date December 10th. If you’re like me, you want to hang on to your money as long as possible, so a lot of people wait until close to the late date to pay their taxes. If ...
I’m seeing some listings that tout a “bonus room,” suggesting that you get an extra room included in the purchase price. Wha...
Loans by Irene - Granite Financial For those of you looking at a 5/1 ARM, I just locked a client at 3.875% with no points and max guaranteed closing costs of no more than $2200 (APR 3.92%). The 30 Year Fixed is important, but for the right person, a 5/1 can be a financial strategy. In my time in the business, I haven't seen this rate at no points!
Loans by Irene - Granite Financial Interest rates are trickling upwards. If you're holding out on refinancing because you think rates will drop lower than where they have been, ask yourself this: "Will I feel worse if I lock now to save in rate, even though this may not be the bottom -- or will I feel worse if I don't lock at all, rates go up above wh...ere I'm at now, and I can't refinance into a lower rate and payment at all?"
After your initial conversation about prequalifying and after determining what you feel comfortable with as your “max purchase price,” it is strongly recommended, if not necessary, that you get preapproved for a loan. This is not just getting credit-approved, like some banks like to call it. In...
It is much better and much more important to get preapproved. Let me start out with the details of a prequalification first. The first thing you are going to do when you start thinking about buying a home is to call a bank or a mortgage broker to see what you can afford and what you can qualify for...
Right now, this is a rumor, but when I hear rumors like this, I’m pretty sure it will happen: Effective 10.2.09, you will be required to put 15% down on a condo for a conventional loan. ...
Just a reminder that the first time homebuyer tax credit is set to expire on December 1st. This means that you must close (own the home) by this date...
