VA Loans! Zero downpayment to $1,000,000

blog veteran

VA loans are one of the benifits our service men and women get as a part of their service to this country. There are great benifits to VA loans!

Lower Rates

ZERO DOWN PAYMENT uo to $1,000,000 Purchase price

Lower Fico Scores – as low as 620

Higher income to debt ratios – A make sense approach to underwriting

If you are a veteran, please give me a call to review a possible VA loan!




Posted in Equity, Finance, Home Financing, Love, military, Mortgage Rates, Mortgages, Rates, Real Estate, Real Estate Mortgages, Realtors, Retiree, Retirement, Stay at Home, Uncategorized, VA, VA Mortgage, Veteran | Leave a comment

Mortgage Information-

Housing starts for October rose 1.5% month-over-month to an annual pace of 1,228,000 units, in line with the Bloomberg forecast. September starts were revised higher to an annual pace of 1,210,000. Building permits, one of the leading indicators tracked by the Conference Board as it is a gauge of future construction, decreased 0.6% month over month to an annual rate of 1,263,000, versus expectations of a 1,260,000 pace, and compared to September’s upwardly-revised 1,270,000 rate. Single-family home starts, sometimes referred to as the backbone of housing demand, continued to decline.

Treasuries are mostly higher, with the yield on the 2-year note little changed at 2.79%, while the yields on the 10-year note and 30-year bond are declining 2 basis points (bps) to 3.05% and 3.30%, respectively

Check out programs available and rates: There are a lot of good options!

 NO Mortgage Insurance at 90% ,  I/O available 

 Down payment and closing cost Assistance up  to $705,000  SP CALHFA up to   105% CLTV INCOME limit NOW  UP TO $228,300   county specific

Disaster victims can qualify CALHFA

Manufactured ,SFR,Condo,PUD allowed  email


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Down Payment as low as 1%

Combine two loan programs for a down payment as low as 1%. Call me so we can discuss if these programs will work for you.

1st Program:

  • Purchase or refinance of owner occupied single family residences / condos and 1-2 unit properties
  • No mortgage insurance requirement
  • 97% LTV / 105% CLTV
  • 30-year fixed rate
  • Maximum loan amount of up to $424,100 for single unit and $543,000 for two units

2nd Program:

  • 3-year fixed term, 0% APR
  • Forgivable second trust deed loan
  • No payment is required
  • Purchase only in conjunction with Grow program loan
  • Minimum loan amount of $3,000
  • Maximum loan amount of up to $8,750 for single unit and $11,200 for two units
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Reverse Mortgages

Home values have been on the rise across the US since 2013. As a result, your home may now be worth much more money than you think, which means you may have more equity in your home. A Home Equity Conversion Mortgage (HECM) can help you turn a portion of your home equity into extra cash. Did you know that low interest rates allow you to get more cash out of your home? With home values up and interest rates low, this is the perfect time to get a HECM reverse mortgage.

With a federally-insured HECM reverse mortgage loan, your existing monthly mortgage payments are eliminated[1] and you may receive tax-free[2] money paid to you in one lump sum, in monthly payments or as a growing stand-by line of credit. The money generally does not affect Social Security, Medicare, or private retirement benefits[3]. You have control and flexibility over how you use your loan proceeds.

Many seniors today are looking for additional cash flow to:

  •  Pay off other loans or debts
  • Cover medical expenses and prescription costs
  • Fund home repairs or modifications
  • Supplement retirement cash flow

I’ve helped many seniors just like you pay off their existing mortgage and enjoy their retirement to the fullest. Call me today at 650-773-0247 to see if a reverse mortgage is right for you!


[1] If you qualify and your loan is approved, a HECM must pay off your existing mortgage(s). With a HECM, no monthly mortgage payment is required. Borrowers are responsible for paying property taxes and homeowner’s insurance (which may be substantial). We do not establish an escrow account for disbursements of these payments. Borrowers must also occupy home as primary residence and pay for ongoing maintenance; otherwise the loan becomes due and payable. The loan must be paid off when the last borrower, or eligible non-borrowing surviving spouse, dies, sells the home, permanently moves out, or does not comply with the loan terms. A HECM increases the principal mortgage loan amount and decreases home equity (it is a negative amortization loan).[2] Loan proceeds are paid tax free; consult your tax advisor.[3] Social Security benefits will not be impacted; however other benefits such as Medicaid or supplemental income, like government assistance, may be impacted.These materials are not from HUD or FHA and were not approved by HUD or a government agency.



Posted in Bond Market, Bond Markets, Elderly, Equity, Finance, Financial News, Home Financing, Mortgage Rates, Mortgages, Rates, Real Estate, Real Estate Mortgages, Retiree, Retirement, Reverse Mortgage, Reverse Mortgagee, Reverse Mortgages, Seniors, Spirituality, Stay at Home, Uncategorized | Tagged , , , , , , , , , , | Leave a comment

*Fed hikes rates, lays out plan to unwind $4.5 trillion balance sheet

The Fed is finally on a path to winding down its nine-year stimulus program.

After its two-day policy meeting, the Federal Reserve raised its benchmark interest rate, the third time in six months, stuck to its forecast of one more hike this year and laid out plans to unwind its balance sheet.

The Federal Open Market Committee (FOMC) voted to raise the range of the federal funds rate to 1.00% and 1.25%, citing mixed economic data.

“In view of realized and expected labor market conditions and inflation, the Committee decided to raise…the fed funds rate,” the central bank wrote in its statement.

One member of the committee, Minneapolis Fed President Neel Kashkari, voted against the decision, preferring to keep the federal funds rate between 0.75% and 1.00%. In March, Kashkari was also the lone dissenter to raising rates.

Unwinding the balance sheet

The Fed also described its plans to wind down its $4.5 trillion balance sheet, which it expects to begin this year. The program, in which the Fed would gradually reduce its holdings of Treasuries and agency securities, will decrease the Fed’s reinvestment of principal payments. Payments will only be reinvested when they exceed gradually rising caps, which start out at $6 billion per month for Treasuries and $4 billion per month for agency debt and MBS.

“The Committee currently anticipates reducing the quantity of supply of reserve balances, over time, to a level appreciably below that seen in recent years but larger than before the financial crisis; the level will reflect the banking system’s demand for reserve balances,” the Fed wrote in an addendum to its statement. The unprecedented size of the Fed’s balance sheet is a lingering a result of the extraordinary easing measures it took in response to the financial crisis.

Federal Reserve Chair Janet Yellen. (AP Photo/Cliff Owen)
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Washington Post – Fannie Mae may ease financial standards for mortgage applicants. Good Idea?

Fannie Mae will ease financial standards for mortgage applicants next month

It’s the No. 1 reason that mortgage applicants nationwide get rejected: They’re carrying too much debt relative to their monthly incomes. It’s especially a deal-killer for millennials early in their careers who have to stretch every month to pay the rent and other bills.

But here’s some good news: The country’s largest source of mortgage money, Fannie Mae, soon plans to ease its debt-to-income (DTI) requirements, potentially opening the door to home-purchase mortgages for large numbers of new buyers. Fannie will be raising its DTI ceiling from the current 45 percent to 50 percent as of July 29.

DTI is essentially a ratio that compares your gross monthly income with your monthly payment on all debt accounts — credit cards, auto loans, student loans, etc., plus the projected payments on the new mortgage you are seeking. If you’ve got $7,000 in household monthly income and $3,000 in monthly debt payments, your DTI is 43 percent. If you’ve got the same income but $4,000 in debt payments, your DTI is 57 percent.

In the mortgage arena, the lower your DTI ratio, the better. The federal “qualified mortgage” rule sets the safe maximum at 43 percent, though Fannie Mae, Freddie Mac and the Federal Housing Administration all have exemptions allowing them to buy or insure loans with higher ratios.

Studies by the Federal Reserve and FICO, the credit-scoring company, have documented that high DTIs doom more mortgage applications — and are viewed more critically by lenders — than any other factor. And for good reason: If you are loaded down with monthly debts, you’re at a higher statistical risk of falling behind on your mortgage payments.

Using data spanning nearly a decade and a half, Fannie’s researchers analyzed borrowers with DTIs in the 45 percent to 50 percent range and found that a significant number of them actually have good credit and are not prone to default.

“We feel very comfortable” with the increased DTI ceiling, Steve Holden, Fannie’s vice president of single family analytics, told me in an interview. “What we’re seeing is that a lot of borrowers have other factors” in their credit profiles that reduce the risks associated with slightly higher DTIs. They make significant down payments, for example, or they’ve got reserves of 12 months or more set aside to handle a financial emergency without missing a mortgage payment. As a result, analysts concluded that there’s some room to treat these applicants differently than before.

Lenders are welcoming the change. “It’s a big deal,” says Joe Petrowsky, owner of Right Trac Financial Group in the Hartford, Conn., area. “There are so many clients that end up above the 45 percent debt ratio threshold” who get rejected, he said. Now they’ve got a shot.

That doesn’t mean everybody with a DTI higher than 45 percent is going to get approved under the new policy. As an applicant, you’ll still need to be vetted by Fannie’s automated underwriting system, which examines the totality of your application, including the down payment, your income, credit scores, loan-to-value ratio and a slew of other indexes. The system weighs the good and the not-so-good in your application, and then decides whether you meet the company’s standards.

Fannie’s change may be most important to home buyers whose DTIs now limit them to just one option in the marketplace: an FHA loan. FHA traditionally has been generous when it comes to debt burdens: It allows DTIs well in excess of 50 percent for some borrowers.

But FHA has a major drawback, in Petrowsky’s view. It requires most borrowers to keep paying mortgage insurance premiums for the life of the loan — long after any real risk of financial loss to FHA has disappeared. Fannie Mae, on the other hand, uses private mortgage insurance on its low-down-payment loans, the premiums on which are canceled automatically when the principal balance drops to 78 percent of the original property value. Freddie Mac, another major player in the market, also uses private mortgage insurance and sometimes will accept loan applications with DTIs above 45 percent.

The big downside with both Fannie and Freddie: Their credit-score requirements tend to be more restrictive than FHA’s. So if you have a FICO score in the mid-600s and high debt burdens, FHA may still be your main mortgage option, even with Fannie’s new, friendlier approach on DTI.

Ken Harney’s email address is

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Stay Home with a Reverse Mortgage.

Reverse Mortgage happy-senior-couple-dancing-holding-hand

There are a lot of myths and misinformation about Reverse Mortgages. The beauty of a Reverse Mortgage is it gives you, or your loved one, FREEDOM! and Peace of Mind!

The Peace of Mind that NO PAYMENTS and RETAINING OWNERSHIP gives you!

With a Reverse Mortgage you can PAY BILLS, TAKE A VACATION, possibly LOWER YOUR TAX BILL and ENJOY YOUR LIFE a little more. With a Reverse Mortgage you DO NOT give up any ownership of your home.

I love to help and answer all your questions.  Call to get the real information!




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Just Closed! Single Mom- First Time Homebuyer

What I love about the mortgage business is the opportunity to help people who thought they would never own a home buy their first home. I just closed a loan for a single mom who wanted to live near her job. She and her daughter had lived in an aparment for years. She had always dreamed of having a single family residence but it always seemed out of reach. Well, she just moved in to her dream home. I love helping make dreams come true!!! Such an honor!

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Market News Today

Good morning, after rallying yesterday on dovish comments that lowered rate hike expectations, U.S. stocks are under pressure again as we are seeing a pretty severe sell off in the equity markets, with global volatility ramping up and oil prices falling we are seeing a DOW down over 250+ in early trading. Treasuries are down as well as the FNMA 3.0% coupon is currently down 6/32 as of 9:01 am.

Small business optimism slips

The National Federation of Independent Business (NFIB) Small Business Optimism Index for August dipped to 94.4 from July’s 94.6 level, and compared to the Bloomberg forecast of a modest rise to 94.8.

Treasuries are dipping in late-morning action, with the yield on the 2-year note flat at 0.77%, while the yields on the 10-year note and the 30-year bond are ticking 1 basis point higher to 1.67% and 2.40%, respectively. Schwab’s Chief Fixed Income Strategist, Kathy Jones offers her latest analysis of the interest rate environment in her article, Negative Interest Rate Policy: What Is It and Could It Happen Here?

Also, with global market volatility picking up as of late, Schwab’s Chief Investment Strategist, Liz Ann Sonders offers her latest articles, Is That All?, and All Summer Long: Will the Extreme Lull in Volatility Persist?. Liz Ann notes that since the beginning of 2015, we have been in this loop—moving frequently between easy and tight financial conditions, which have triggered the moves between a dovish and hawkish Fed. “As I’ve been saying for some time, I don’t see how we extricate ourselves from this loop; while it’s likely to remain a source of more frequent bouts of volatility.” For more on this topic, see our latest article, Fed Uncertainty Brings Volatility to Markets Europe turns lower as global uncertainty persists


Courtesty of PRMG  9/13/2016

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BREXIT and Interest Rates

Since voters in the UK decided last week to exit the European Union interest rates have dropped. Markets worldwide were caught off guard by the vote and in the following days a flurry of investors sold stocks and moved their money into to the safety of U.S. Treasury Bonds – driving mortgage rates down.

As of right now, 30 year fixed-rate mortgages are hovering around 3.5% while the rates on a 15 year fixed-rate mortgage are hovering around 2.85%.

Even though some experts predict that rates could drop even more, it would be wise to lock in these low rates now. The effect of the Brexit vote on long term interest rates is still unclear. As investors regain their confidence in the market or see opportunities to purchase undervalued stocks, it is expected that they will sell their Treasury Bonds and move their money back to stocks which then typically leads to higher interest rates.

If you or someone you know is thinking about buying, selling, or refinancing, now is a great time to make a move. Give us a call today so that we can help you take advantage of a great market.

We want to help you get a mortgage! I am available to answer your questions and to review your situation whether it be to buy, plan for future or refinance !

Go to my web page and start  the loan process

Valerie Oliver

181 2nd Avenue #218 San Mateo, CA 94401

(650) 773-0247

NMLS: 483490 Cal BRE 00935469


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