De Young Mortgage Honored With People’s Choice Award Recognition

March 17, 2017admin

De Young Mortgage was recognized as a People’s Choice Award recipient for Best Mortgage Company, an annual honor given to three businesses per category by the Fresno Bee based on votes received from the community. De Young Mortgage would like to thank the community for your votes.

“Thank you to the community for this honor. De Young Mortgage is a one-stop financial resource in Fresno County,” said Brandon De Young of De Young Mortgage. “Call a De Young Mortgage expert today to learn your purchasing power.”

Since 2012, De Young Mortgage has been helping homeowners finance the American Dream of home ownership. De Young Mortgage takes pride in being a reliable and reputable mortgage company, offering a full-range of quality financing options including Conventional, FHA, USDA, VA and Jumbo loans. In addition, De Young Mortgage can offer expertise in lending for a resale purchase of an existing home, refinancing of an existing loan, and financing of new home construction or investment property. Their goal is to make the financing process as simple, convenient and pleasant as possible for all clients.

For more information on De Young Mortgage call 559.420.7868.

Author: Brandon De Young

Interest Rates are Staying Steady!

February 3, 2017Ashley De Young

Good News! On February 1, Federal Reserve officials decided to leave interest rates unchanged while they assess where the economy is headed. What does this mean for you? It means that if you were thinking about buying or refinancing a home, now is the time! And let the professionals at De Young Mortgage help guide you!

The Federal Open Market Committee wholesale jerseys China (FOMC) is anticipating interest rates will rise gradually though. In their statement, the wholesale nba jerseys FOMC said that job gains “remained solid” www.wholesalejerseysup.com and unemployment rate “stayed near its recent wholesale jerseys low,” so now is the time to act.

The FOMC expects economic conditions to evolve in a way that will warrant only “gradual increases” to the federal funds rate in the immediate future. If you are interested in speaking to an industry expert who is knowledgeable about the marketplace and what will be best for you, contact De Young Mortgage today! Call 559-420-7868 or email info@deyoungmortgage.com.

Author: Brandon De Young

Renting vs. Buying: Planning for Homeowner costs you did not have as a renter

November 5, 2016Ashley De Young

Your loan has funded, your closing costs have been paid and you’ve received the keys, marking the end of the home buying process. It’s official, you are a homeowner. Congratulations!

While home ownership comes with undeniable rewards, it also comes with newfound responsibility that often includes unexpected costs. Unlike the previous property you rented, lawn care, home maintenance, property taxes and homeowner’s insurance will now fall on you, the homeowner.

A common misconception is that your mortgage payment will cover the cost of your home each month, but cheap nfl jerseys that’s not the case. In fact, you the mortgage payment is just one portion of your homeownership costs. A budget can help you determine exactly how much you should plan to spend on your home each month, and prevent a situation in which you are spending a majority of your income on your home.

Your budget should include the following expenses:

Property taxes… If not included in the mortgage payment
Home maintenance
Emergency funds

Add all of the above together with your monthly mortgage payment to determine your true cost of living. Knowing this amount prior to purchasing a home will help alleviate stress and anxiety that comes with unexpected home maintenance. We’ll discuss how much you should budget for each of películas, these costs below.

Ownership costs to plan for

Property Tax

Property tax is an annual tax based on the market value of your home. Depending on the loan program you chose when purchasing your home, the lender may require the establishment of an escrow account to pay your property tax bill. If so, the lender will then collect one-twelfth of the total amount each month, along with your mortgage payment, in order to pay the annual tax bill.

Should you choose to pay the property tax on your own, it lang would be wise to set aside one-twelfth of the total bill in a separate bank account every month. us! That way, you’ll have the funds readily available when the annual tax bill is due.

Home maintenance

As a new homeowner, you will also be responsible for maintaining your house and yard, including repairing any damages as well as regular wear and tear. The average homeowner spends roughly 1.5 percent of their home value on maintenance per year. For example, if your house is $200,000, you might anticipate spending $3,000 on home maintenance annually. Because of this, it is also wise to deposit one-twelfth of this amount into a separate home maintenance fund every month.

Emergency Funds

Although we don’t often plan for them, emergencies are bound to happen. Creating a reserve of funds specifically for an emergency is critical and must be taken into account when developing a budget. If you were to get laid off or become too ill to work, would you have enough funds in savings to make at least three mortgage payments? Having world! a three month cushion will allow you the stress-free feeling of independence in the event you experience any life changes. This amount should equal three times your monthly salary.

Remember, your mortgage payment is not the only cost to consider when purchasing a home. Based on your chosen property, determine the right amount to save each month in order to cover your property tax, home maintenance and all bills for three months in case of an emergency. Although this can seem like a lot to take in, remember you now have equity in your home and gain more with each mortgage payment!

Author: Brandon De Young, President of De Young Mortgage

Rates are dropping, but should you refinance your home?

November 5, 2016Ashley De Young

Factors to consider before you decide if refinancing is for you.

As mortgage interest rates reach record lows, many homeowners are considering the benefits of refinancing. Whether in search of a lower monthly payment or a shorter loan period, the extremely low interest rates we are currently experiencing doesn’t necessarily mean that a homeowner should automatically refinance.

Monthly savings is only one factor to consider. Borrowers should also determine the cost of the refinance transaction, the current equity of the home and other pertinent details before making the decision, like the cost to apply for the loan.

Benefits of Refinancing

Homeowners refinance for a variety of reasons, but usually they do so to achieve a lower interest rate and lower payment. Additional benefits to refinance are as follows:

To convert an adjustable-rate mortgage (ARM) to a fixed-rate mortgage
To withdraw home equity as cash
To cancel monthly mortgage insurance
To convert from a 30-year to a 20, 15 or 10-year loan.

Factors to consider before refinancing

If you can lower your interest rate and payment, it may be worth refinancing. Consider this: A homeowner with a large balance can reduce monthly costs by dropping their rate just 0.25%. However, someone with a very small loan balance may need to reduce their rate 2-3% before seeing enough savings to justify a refinance transaction.

Closing costs should also be taken into consideration when making the final decision to refinance. If you can save $100 per month in your payment, but it will cost you $5,000 to do so, the time to recoup the cost would be 50 months. That’s more than four years! Unless you plan on being in your home for at least that long, it may not make sense to refinance. However, if your closing costs are $3,000, but you are saving $200 per month, you would recoup the cost of the transaction in just 15 months. Decide how long you plan to be in your home and determine if the value equates to the cost of refinancing.

Additionally, refinancing can sometimes cost you absolutely nothing. If so, it is usually a good idea to do so, even if you’re only saving a fraction of what you currently pay each month.

With exception of a few loan programs, lenders will verify that you have at least a minimal amount of equity to allow a refinance. Generally, the more equity you have in your home, the easier it is to refinance. Therefore, your appraisal must come in higher than the amount of equity you have, and sometimes a low appraisal can be the reason a refinance falls through.

To learn more about refinancing and if it is the best option for you, contact De Young Mortgage at 559.420.7868.

Author: Brandon De Young, President of De Young Mortgage

This is not an offer for extension of credit or the commitment to lend. All loans must satisfy company underwriting guidelines. Information is subject to change at any time and without notice. Casey McDaniel, CA Bureau of Real Estate Real Estate Broker License # 01982326 NMLS Lic. # 1151413. Brandon De Young, CA Bureau of Real Estate Real Estate Broker License # 01922771 NMLS Lic. # 1029435. Jerry De Young, CA Bureau of Real Estate Real Estate Broker License # 00524649 NMLS Lic. # 293347. De Young Mortgage, Inc. NMLS #1026010. De Young Mortgage, Inc. CA Bureau of Real Estate Real Estate Broker License #01926671.