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!

Posted in Elderly, Equity, Finance, Financial News, Home Financing, Love, Mortgage Rates, Mortgages, Rates, Real Estate, Real Estate Mortgages, Realtor, Realtors, Retiree, Retirement, Spirituality, Stay at Home, Uncategorized | Leave a comment

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 http://www.emortgageservices.net/val/

Valerie Oliver

181 2nd Avenue #218 San Mateo, CA 94401

(650) 773-0247

NMLS: 483490 Cal BRE 00935469


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Mortgage Interest Rates Remain Low

Concerns omortgage rates 7-26ver Europe and China and their economic growth has created a positive impact on mortgage interest rates. On Friday the key employment date, which remains at about 5%, had little effect on mortgage rates. The speculation is that there is a 10% chance that the Feds will raise rates at their June meeting.

Over the past week we have seen economic news from Europe and China that the European Union has cut its growth forecast for the eurozone for 2016 and 2017. China’s PMI manufacturing index fell to a level that suggest the industry is contracting. When global economic growth slows it means less inflation for the American economy which is good news for interest rates.


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Speak with Val Oliver about Reverse Mortgages!!

Key Factors That Determine Your Reverse Mortgage Payout

The first step is to call me for an evaluation: Valerie Oliver 650-773-0247 NMLS 483490 CalBRE 00935469

When the idea of the reverse mortgage loan was first conceived in the early 1960’s, people quickly began to recognize that the concept was a brilliant answer to a common challenge.  Many senior homeowners wanted access to their home equity to help fund retirement while remaining in their home—and a reverse mortgage loan could help them do just that.  In addition, the loan proceeds would pay off any existing liens, thus eliminating the homeowner’s monthly mortgage payment.  The benefits were, and to this day still are, very appealing. But among many questions borrowers have, a popular one always surfaces first:

What amount of money can I actually get from a reverse mortgage?

This question is understandable, since borrowers are primarily interested in a loan that provides an amount high enough to help them. Read the following to learn how reverse mortgage loan proceeds are determined.

How Much Does a Reverse Mortgage Pay?

How much money you can access from a reverse mortgage will be calculated by a formula that takes into account the following key factors:

  • AGE – You must be at least 62 to qualify. And because part of this calculation is determined by the estimated length of the loan, the older you are when you take out a reverse mortgage, the more cash you will have access to.
  • HOME VALUE – Your home’s current appraised value will help determine available loan proceeds. The higher the value, the higher the potential for cash.
  • INTEREST RATES – Current interest rates affect how much money you receive. The lower the interest rate, the higher your available funds.
  • FINANCIAL OBLIGATIONS – may also lower the amount you will receive. For example, if you have an existing mortgage balance left, it must be paid off first from your loan proceeds before you receive the rest.
  • DISTRIBUTION TYPE – The type of distribution you choose, whether it be a lump sum, a partial sum, a line of credit, or a monthly disbursement, can affect your loan amount. The line of credit option typically gives you the highest possible proceeds, while the lump sum may give you the lowest.

Reverse Mortgage Loan-to-Value (LTV)

So what percentage of your home’s value can you actually access?  Since there are a number of factors that determine how much of your equity you may access with this loan, there is no specified reverse mortgage LTV that you can expect.  However, reverse mortgage professionals are equipped with tools to do this calculation for you, so we recommend calling your lender to learn what your reverse mortgage loan to value could be.

Reverse Mortgage Loan Limits

One important detail you may not realize is that there are loan limits in place for this financial product.  Although there isn’t an exact reverse mortgage maximum loan amount, there is a limit for how much of a home’s value a reverse mortgage can borrow against, which will in turn affect the maximum loan amount possible.  For the government-insured Home Equity Conversion Mortgage (HECM), the maximum reverse mortgage limit you can borrow against is $625,500, even if your home is appraised at a higher value than that. There is a jumbo product that goes over $625,500.

How Much Equity Do I Need to Have?

Many senior homeowners with an existing mortgage want to know if they are still eligible for this loan product.  The answer is yes, it may be possible.  In general, homeowners who are over the age of 62 with 50-55% or more equity in their home have a good chance of qualifying for a reverse mortgage.  However, if there is still a significant mortgage balance remaining, then payout may be minimal.  Because loan proceeds will always go towards paying off existing liens first, a reverse mortgage provides borrowers with the most disposable cash if the home is either paid off or the remaining mortgage balance is low.

Your exact reverse mortgage loan amount is most accurately identified by speaking with a reverse mortgage professional.  This professional will educate you on the reverse mortgage process, understand your specific situation and will help calculate your reverse mortgage quote by considering all of the factors above.  If you are ready to find out how much money you can get from a reverse mortgage and learn more about this flexible retirement planning tool, call Valerie Oliver at 650-773-0247. Your reverse mortgage professional will be standing by to take your first step toward learning more about if a reverse mortgage is right for you.


Bird, Beverly. “How Much Equity Do You Need for a Reverse Mortgage?” Finance.Zacks.com. Demand Media. ND. Web. 4 June 2015.http://finance.zacks.com/much-equity-need-reverse-mortgage-6367.html

Gallagher, Mary. “What is the Loan to Value Ratio for a Reverse Mortgage?” Ehow.com. NP. ND. Web. 4 June 2015.http://www.ehow.com/info_8146990_loantovalue-ratio-reverse-mortgage.html

Plaehn, Tim. “What Percent of Value Can You Borrow on a Reverse Mortgage?” EveryDayLife.com. Demand Media. 4 June 2015. http://everydaylife.globalpost.com/percent-value-can-borrow-reverse-mortgage-41748.html

Sherman, Fraser. “Reverse Mortgage Lending Limits”. HomeGuides.SFgate.com. Demand Media. ND. Web. 4 June 2015. http://homeguides.sfgate.com/reverse-mortgage-lending-limits-9369.html

“FHA Reverse Mortgages (HECMs) for Seniors.” HUD.gov. U.S. Department of Housing and Urban Development. ND.  Web. 4 June 2015.http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/hecm/hecmabou

“Reverse Mortgages: Understanding the Basics.” EDIS.edu. University of Florida IFAS Extension. ND. 4 June 2015. http://edis.ifas.ufl.edu/fy1105

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

Reverse Mortgages-a good option!

From the desk of:                                                                        Call TODAY

Valerie Oliver                                                                    650-773-0247 

I am a loan officer who helps homeowners find the right solution in home financing. I have been in the mortgage business for over 30 years and I can listen to your needs and help you come up with a solution. If the youngest person in your household is 62, a Reverse Mortgage may be the answer for you.


Peace of Mind



With a Reverse Mortgage you can PAY BILLS,



Or Purchase a Home

and ENJOY YOUR LIFE a little more.

With a Reverse Mortgage you DO NOT give up any ownership of your home.

There are a lot of myths out there!

Call to get the real information!


Valerie Oliver


Nmls 48340

CalBRE: 00935469

Posted in Finance, Home Financing, Mortgage Rates, Mortgages, Rates, Real Estate, Real Estate Mortgages, Realtor, Realtors, Retiree, Retirement, Reverse Mortgage, Reverse Mortgagee, Reverse Mortgages, VA, VA Mortgage, Veteran, Veterans | Leave a comment

Feds Raise Interest Rates

The lenders had already raised rates in anticipation of this .25% hike.


The Fed meeting was essentially the only focus for investors over the past week. Financial markets experienced a great deal of volatility both before and after Wednesday’s highly anticipated Fed announcement. The net result for mortgage rates was that they ended the week a little higher.


 After holding the federal funds rate near zero for seven years, the Fed announced on Wednesday a widely expected rate hike of 25 basis points. According to the Fed statement, there has been “substantial improvement” in the labor market, and the economy is on a path of “sustainable improvement.” Regarding future policy, Fed officials expect that economic conditions will warrant only “gradual” increases in rates. The statement also noted that the Fed does not expect to reduce its holdings of MBS and Treasuries any time soon. While there has been a wide range of forecasts about what “gradual” means for future rate hikes, investors overall were pleased that the Fed does not appear to be in any rush to take additional steps to tighten monetary policy.


The Fed’s dual mandate includes striving for maximum employment and stable prices. There is little disagreement that the labor market has been steadily improving. Inflation has remained below the Fed’s desired rate, however. In the statement, Fed officials expressed that they were “reasonably confident” that inflation would rise to their target level.


One widely followed indicator released on Tuesday, the consumer price index (CPI), showed that core inflation in November continued its steady climb seen this year. Core inflation excludes the volatile food and energy components. Another measure important to the Fed, the core PCE price index, has shown little indication of a pickup in core inflation. The November reading for core PCE will come out next week.



Next week, Existing Home Sales and revisions to third quarter GDP will be released on Tuesday. Durable Orders, New Home Sales, Personal Income, and the core PCE price index, the Fed’s preferred inflation indicator, will come out on Wednesday. Mortgage markets will close early on Thursday and will be closed on Friday in observance of Christmas. Mortgage markets often are more volatile than usual during the last two weeks of December due to lighter trading volumes.
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