Tag: conforming

How (NOT) to Destroy Your Mortgage Approval!!!

~ Rob Spinosa ~ Leave a comment

Ever wondered about the most common (as well as lesser known) ways mortgage borrowers sabotage their own loan process?

  • Do they dispute credit items and try to fix their FICO scores?
  • Do they change jobs without telling their lender or broker?
  • Do they mistakenly wire their down payment to a cyber criminal in Russia?

All of the above can be mortgage destroyers — and not like the KISS kind of Destroyer — the one that captivated me as a child.

So, let’s take the mask off the Top 10 ways unsuspecting homebuyers and those looking to refinance encounter the God of Mortgage Thunder.  Don’t be next! 

Get up, everybody’s gonna move their feet!

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 the 2023 Conforming Loan Limits!!!

~ Rob Spinosa ~ Leave a comment

I ain’t foolin’!

Even though there’s been a whole lotta interest rate hikes in 2022.  And even though there’s been a whole lotta rumbling about home values declining in some areas, the FHFA will again be increasing the conforming loan limits into 2023.

This means that where the one-unit conforming limit was $647,200 in 2022, it will become $726,200 in 2023.

And in high-cost (aka high balance) metropolitan statistical areas like much of CA, NY and other housing-expensive counties, you may see the conforming limit go from $970,800 all the way up to $1,089,300.

Note that FHA and VA loan limits fall outside of this change, so if you need to know the specific loan maximums for any program, in any area, just get in touch!

Been a long time!

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 Cannabis Income on a Mortgage Application

~ Rob Spinosa ~ Leave a comment

Fifty years ago, when the Doobie Brothers were flying high and the folks in China Grove were rising for another day, it would have been hard to imagine that marijuana would eventually be legal in some states.  But, not legal in all states and not legal at the Federal level and that means those who work in the marijuana and cannabis industries can see their mortgage opportunities go up in smoke if not aligned with a lender who knows which programs and investors can navigate this relatively new industry.

So let’s take it to the streets and find out just how a homebuyer or homeowner can get a mortgage approval if they are employed in a cannabis business and get income from a business in the cannabis space.

Need some solid advice about mortgages and marijuana and cannabis income?  Give me a like or subscribe on YouTube!

Listen to the music,

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.