Freddie Mac and Fannie Mae will be holding off for a couple of months on implementing the new .5% tax on refinances. The “Adverse Market Fee” was going to begin on September 1. Now it’ll be December 1. The tax was announced by the FHFA without any warning two weeks ago, and broadsided the ... » Learn More about A Short Term Reprieve From the New Freddie Fannie Refinance Tax
Market Updates
Income to Purchase Loan Guide San Fernando Valley Single Family Homes July 2020
Due to low inventory, and a robust market because of low interest rates, San Fernando Valley property values continue to appreciate. The affordability index has gotten better over the past year because of the low rates. If you are in the Los Angeles area, have any questions or real estate sales ... » Learn More about Income to Purchase Loan Guide San Fernando Valley Single Family Homes July 2020
Ouch, A Double Whammy, Rates Up, and a .5% Point New Tax on Mortgage Refinances
The Federal Housing Finance Agency (FHFA) in their all-mighty wisdom decided to add a .5% fee to Freddie and Fannie refinances submitted to them after September 1. So basically conforming loan refinances just got more expensive for the borrower. Note this is not applicable to purchase loans (so ... » Learn More about Ouch, A Double Whammy, Rates Up, and a .5% Point New Tax on Mortgage Refinances
San Fernando Valley Housing Statistics July 2020
The San Fernando Valley housing market is feeling the effects of supply and demand. Inventory is low, while the purchase market is being fed by historically low-interest rates and a pent up demand. As was conveyed in my blog in the middle of July, the sales started leveling off in June after ... » Learn More about San Fernando Valley Housing Statistics July 2020
A Home “Buy vs Rent” Analysis
This buy vs rent breakdown example offers a good graphical representation of why it’s advantageous to buy a home rather than rent. Historically, aside from a few isolated timeframes when property values declined or were flat, property appreciation has been a constant. The homeownership acts as both ... » Learn More about A Home “Buy vs Rent” Analysis