Author: Rob Spinosa

One too many personal opinions on my professional blog... Husband, father, t-ball coach, mortgage salesperson, erstwhile Ironman triathlete and glam metal guitarist. Who says you can't have it all?

How to Rock an Interest Rate Buydown!!!

~ Rob Spinosa ~ Leave a comment

R U gonna let the interest rate elevator bring you down?

Look — it’s a tough real estate environment right now.  Sellers and builders still would die 4 to get the list price and buyers would laugh in the Purple Rain to keep their rate and payment as low as possible.

So what if lenders offered a temporary interest rate buydown, like a 3-2-1 buydown or a 2-1 buydown, that made it all possible?

Let’s go crazy!

Rob Spinosa
SVP of Mortgage Lending

Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 
rob.spinosa@rate.com

Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960 

*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate.  In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate’s Human Resources Department.

How to Rock a Low House Appraisal Value!!!

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You found the perfect home…

And the seller accepted your offer…

And your mortgage application is underway…

Until your appraisal comes in low.  What now???

Never mind all the bad advice that swirls around this dilemma.  There are a handful of effective ways to deal with an appraisal value that comes in under your offer price, so if you find yourself in this stressful situation today, get in touch.  Or perhaps you’re a Realtor or buyer looking to better understand all of the tactics and tips that you can use to negotiate a low appraisal in today’s challenging real estate market.  If so, come as you are and let’s learn how to rock a low appraisal value today. 

Smells like teen spirit,

Rob Spinosa
SVP of Mortgage Lending

Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 
rob.spinosa@rate.com

Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960 

*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate.  In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate’s Human Resources Department.

How to Rock an FHA Home Loan!!!

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Are FHA loans just for first time home buyers?  

Is an FHA mortgage the best choice if you have bad credit?

What if you have a low down payment, or even no down payment from your own savings?

If you’re ready to quit renting right here and right now, let’s learn how to rock an FHA home loan:

Watching the world wake up,

Rob Spinosa
SVP of Mortgage Lending

Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 
rob.spinosa@rate.com

Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960 

*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate.  In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate’s Human Resources Department.

How to Rock Shopping for Mortgage Rates!!!

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Have a rate quote but want to see if another lender, banker or broker can “beat it?”

Concerned that the Fed will keep hiking rates and trying to decide whether to lock your rate today?

Mortgage rate shopping doesn’t need to be stressful if you follow these simple tips from an industry pro:

No one wants to be defeated,

Rob Spinosa
SVP of Mortgage Lending

Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 
rob.spinosa@rate.com

Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960 

*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate.  In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate’s Human Resources Department.

How to Rock a Housing Recession!!!

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Is now a good time to buy a house?

Are we headed into another housing recession?

What happens if mortgage rates keep going up?

Should I just keep renting while we wait to see what happens with the economy?

Since these have been the predominant questions on our clients’ minds, I thought I would take a step back to the basics and look at how to make the best decisions possible in uncertain times.

Are the lights going down on the real estate market?  Let’s take a look…

And the sun shines on the bay,

Rob Spinosa
SVP of Mortgage Lending

Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 
rob.spinosa@rate.com

Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960 

*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate.  In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate’s Human Resources Department.

How to Rock Adding a Co-Signer on a Mortgage!!!

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When your fantasy of owning a home meets the reality of qualifying mortgage, it can sometimes mean that you’ll need a little help.  And in more than a few of those cases, the most elegant solution can be a co-signer, technically known as a “non-occupant co-borrower” within the mortgage industry.

So, who makes a good co-signer and who’s just “bad company?” Let’s learn how co-signers can impact, both good and bad, the three most critical elements of any loan approval; income, assets and credit.

I won’t deny it,

Rob Spinosa
SVP of Mortgage Lending

Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 
rob.spinosa@rate.com

Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960 

*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate.  In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate’s Human Resources Department.

How to Buy a New Home Before Selling Your Current One!!!

~ Rob Spinosa ~ Leave a comment

Living in a “crowded house” but can’t find a way to buy that perfect new home before selling your existing one?  Don’t dream it’s over! There are mortgage programs that are specifically created to allow you to use proposed rental income from your existing home — also known as a “departing residence” in this case — to help with your mortgage qualification.  After all, most Americans are working hard enough to afford one mortgage payment, let alone two.

If you’ve been told that you don’t qualify for a new home until you sell your current home, but you otherwise have a down payment saved and ready to go, get in touch and let’s see if a departing residence mortgage is a good fit for you.

There is freedom within,

Rob Spinosa
SVP of Mortgage Lending

Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 
rob.spinosa@rate.com

Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960 

*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate.  In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate’s Human Resources Department.

How to Rock a 10% Down Payment!!!

~ Rob Spinosa ~ Leave a comment

Why go home to your grungy apartment when you can buy your first home instead?  Oh, what’s that?  Haven’t saved the full 20% down payment?  Live in a part of the country where home prices and loan sizes easily outpace the capacity of conforming, FHA and even VA loans?

Let’s learn how to rock the best of the 10% down jumbo mortgage options, some without PMI, and jam on why with a changing real estate market, you may be in luck with half the down payment you thought it might otherwise take. 

Jeremy’s spoken,

Rob Spinosa
SVP of Mortgage Lending

Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 
rob.spinosa@rate.com

Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960 

*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate.  In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate’s Human Resources Department.

How to Rock a Mortgage Pre-Approval!!!

~ Rob Spinosa ~ Leave a comment

Buying your first home is a daunting task and can be a huge undertaking for the first-time buyer.  Shoot, even for a move-up buyer, the experienced downsizer or a seasoned investor, it can sometimes be difficult to know where to begin.  But getting a mortgage pre-approval often remains the best first step in the process, and it’s also a likely reality that your Realtor won’t seriously consider showing you property until you are either pre-approved or pre-underwritten by a mortgage lender or broker.  After all, it’s really tough to know your purchase power and your budget if you don’t know how much of a loan for which you can qualify.

But buyers and borrowers got it bad (so bad!) because they don’t teach “how to buy a home” in school.  So it’s less about the education that you missed and probably more about the education you never got.  But in just five fun minutes we’ll cover:

  1. What’s a pre-approval?
  2. How much does it cost to get a pre-approval?
  3. Will a pre-approval application hurt your FICO score?
  4. What happens once you’re pre-approved?
  5. How long is a pre-approval good for?

Grab your pencil and let’s learn how to rock a mortgage pre-approval!

I don’t feel tardy,

Rob Spinosa
SVP of Mortgage Lending

Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 
rob.spinosa@rate.com

Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960 

*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate.  In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate’s Human Resources Department.

How to Rock Rising Mortgage Rates!!!

~ Rob Spinosa ~ Leave a comment

No doubt about it, since 2022 got underway, mortgage rates have been on a stairway higher and that makes it harder for our buyers to qualify for a mortgage on one hand and even when they do qualify, it puts additional strain on their household budget on the other.

So how can buyers and owners keep their rate and payment as low as possible despite rising interest rates?  In this short video, I cover three classic ways to “fight the Fed:”

  1. Paying discount points.
  2. Choosing an ARM over a fixed rate loan.
  3. Considering an interest-only mortgage program.

Wanna buy a home this year but not end up “house poor?”  Let’s wind on down the road of some of the most effective strategies.

Really makes me wonder,

Rob Spinosa
SVP of Mortgage Lending

Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 
rob.spinosa@rate.com

Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960 

*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate.  In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate’s Human Resources Department.