Tag Archives: mortgage

De Young Mortgage Is Hosting A FREE Homebuyer Financing Workshop – Saturday, June 29!

Join De Young Mortgage’s Free Homebuyer Financing Workshop: Your Guide to Financing Your New Home!

Are you dreaming of owning your own home but unsure where to start? De Young Mortgage is here to help! We’re excited to announce our FREE Homebuyer Financing Workshop, “The Roadmap to Financing Your New Home,” on Saturday, June 29, 2024. This event is designed to provide you with important information and tools to make your homeownership dreams a reality.

SEATING IS LIMITED: RSVP HERE and let us help you unlock the door to your new home!

Event Details:

Date: Saturday, June 29, 2024

Time: 10:00 AM – 12:00 PM

Location: De Young Properties Corporate Office, 677 W Palmdon Ave, Suite 208, Fresno, CA 93704

Why Attend?

Free Snacks & Refreshments: Enjoy a delicious morning snacks assortment and refreshments on us!

Prizes: Each attendee will have a chance to win a $15 Gift Card to Axxis Coffee Bar + Eatery at Tesoro Viejo.

Expert Insights: Gain valuable knowledge from our qualified De Young Mortgage Loan Officers.

Personalized Loan Assessment: Receive a free personalized loan assessment and roadmap to homeownership.

Free Pre-Approval Screening: Benefit from a pre-approval screening without impacting your credit score.

 

Event Topics:

Introduction to Home Ownership: Learn the essentials every homebuyer should know. We’ll cover various loan types including Conventional, FHA, VA, USDA, and NON-QM loans.

Choosing the Right Loan: Discover which loan type suits your needs, whether you’re looking at investment properties or a primary residence. We’ll discuss loan limits, down payment requirements, interest rates, and closing costs.

Qualifying for a Loan: Understand the criteria for loan qualification, including credit scores, co-signers, income requirements, and the cash needed for down payments and closing costs.

Q&A Session: Have your specific questions answered by our expert Loan Officers.

RSVP NOW!

Seating for this free event is limited, so we encourage you to RSVP as soon as possible to secure your spot. This is a unique opportunity to gain the knowledge and confidence you need to navigate the home buying process.

Important Information:

Eligibility: Must be 18 years or older to attend.

Disclaimer: Free pre-approval screening is valid for all attendees and will not negatively impact your credit score. The offer for a free personalized loan assessment is valid for one week from the date of the presentation.

Don’t miss out on this invaluable opportunity to take the first step towards owning your dream home. Join us at De Young Mortgage’s Homebuyer Workshop and start your journey with confidence and clarity.

 

*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. 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.

Conforming Loan Level Increases to $766,550

Conforming Loan Level Increases to $766,550

Updated – 02/22/24

With an ever-changing real estate market, the Federal Housing Finance Agency has once again increased Fannie Mae and Freddie Mac’s loan limits, by offering conforming loans up to $766,550 for a single-family home in the Central Valley. What does this mean? This new limit means some qualifying borrowers may be able to qualify for conventional pricing with lower interest rates rather than relying on a jumbo mortgage, which typically have more stringent criteria. Bottom line, the increase to the maximum conforming loan amount gives purchasers and refinance borrowers expanded access to mortgage credit at lower rates. In terms of raw dollars, this is the biggest leap in the conforming loan limit history, bumping it by more than $75,000.

Here at De Young Mortgage, we see this as an opportunity to assist more clients with a conventional mortgage at lower interest rate. Let one of our dedicated Loan Officer professionals review your income, savings, liquid assets and debt situation then thoroughly review the various mortgage rates and options available to you.

Ready to get started? Click here to complete the online De Young Mortgage Pre-Qualification form today!

 

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. 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.

Stable Job Market and Low Mortgage Rates Creating Surge in Homebuilding

Stable Job Market and Low Mortgage Rates Creating Surge in Homebuilding

It seems like 2020 could be a big year for home builders. The U.S. market closed out the last month of 2019 with the highest level of new housing projects since 2006. The surge of home starts was even higher than what economists had predicted – by a decent margin. Economists point to the stable job market and low mortgage rates among the factors contributing to this growth. As we head into the new year, buyers and builders alike are optimistic as the market gains momentum.

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How Much Growth, and What Does That Mean?

So, the last month of 2019 saw the highest rate of home groundbreakings in 13 years. How much is it actually growing? According to Bloomberg economists:

  • Single-family homebuilding has risen 11.2%
  • Residential home groundbreakings rose 16.9% (the biggest in three years)
  • Homebuilding permits rose to 3.9% at the end of 2019

The rise of single-family housing is particularly important because this segment has the largest share of the housing market. An 11.2% increase is higher than the U.S. has seen since 2007! And what does all this mean? More homes (often entry-level or “starter” homes) are coming to the market, bringing in new homebuyers and possibly converting renters.

Good News: Rates Are Likely Staying Low

Of course, mortgage rates and housing prices play a critical factor in the market’s growth. When mortgage payments stay affordable, more people can afford to buy a home. There’s good news on that front for 2020: Keeping in line with 2019’s low rates, 2020 is expected to see 30-year fixed mortgage rates around the 3.8% mark. This could lead to more renters making the leap to buying a home.

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What’s Ahead

Optimism is growing along with the housing market, which is rising alongside a stable job market and low mortgage rates. Groundbreakings have surged at the start of this new year, prospective homebuyers and renters are taking advantage of the low mortgage rates, and the market is looking good. If you’re looking to buy a new home in 2020, keep an eye on rates and new developments in the coming months.

Low Interest Rates Continue – Today’s A Smart Time To Buy or Refinance!

Low Interest Rates Continue – Today’s A Smart Time To Buy or Refinance!

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Take advantage of low interest rates this spring, making it the right time to make a new home purchase or refinance your home. According to Freddie Mac, fixed mortgage rates rose slightly for the 30-year fixed-rate mortgage averaged 4.24 percent down from the previous week when they averaged 4.29 percent. A year ago this time, the 30-year FRM averaged 4.47 percent. The takeaway – contact De Young Mortgage today.

Explore Your Financing Options with De Young Mortgage

If you were thinking about buying or refinancing a home, now is the time! With low interest rates, financing or refinancing your dream home is easier than ever. The professionals at De Young Mortgage are well acquainted with Conventional, FHA and VA loans, as well as other additional loan options, and are ready to use their expertise to help you choose the best program to suit your individual needs.

With years of lending industry knowledge in the Central Valley, your De Young Mortgage Loan Officer will review your income, savings, liquid assets, FICO credit score and debt situation then evaluate the various mortgage rates and options available. In a timely manner, your Loan Officer will be able to assist you in finding the right loan to suit your needs!

What are you waiting for? Take advantage of these increased low interest rates while you can! To learn more, fill out the Mortgage Application Form and a De Young Mortgage Loan Officer will be in contact with you shortly to guide you through the lending process.

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. De Young Mortgage, Inc. NMLS #1026010. De Young Mortgage, Inc. CA Bureau of Real Estate Real Estate Broker License #01926671.

Looking For Your Dream Home?

De Young Residence 210

Want to take advantage of these low interest rates but haven’t found your dream home yet? Don’t wait any longer to start your new life in a new De Young Properties home! With the unbeatable features and desirable locations matched with these low interest rates, now is absolutely the best time to buy a De Young home.

Whether you are looking for your first home or are a family wanting more room to live and play outdoors, there is a De Young Properties floorplan to meet you unique needs. These De Young SmartHomes provide new homebuyers maximum rewards with generous features and unparalleled quality while still remaining affordable. Each De Young home includes a gourmet kitchen with stainless steel General Electric appliances. Other value added amenities include performance engineered Kohler plumbing fixtures, professional front yard landscaping, and so much more.

Mortgage Rates Continue To Drop: Is it time for you to refinance your mortgage?

Mortgage Rates Continue To Drop: Is it time for you to refinance your mortgage?

As mortgage interest rates continue to drop, many homeowners are trying to decide whether or not refinancing is right for them. Refinancing a mortgage means paying off an existing loan and replacing it with a new one. Whether for the opportunity to obtain a lower interest rate, the chance to shorten the term of their mortgage or the desire to consolidate debt, there are many reasons refinancing might be right for you!

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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.

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.

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 by 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. Determining how long you plan to be in your home will help in deciding 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 today for more information at 559.420.7868. You can also complete the online Mortgage Online Application here.

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. De Young Mortgage, Inc. NMLS #1026010. De Young Mortgage, Inc. CA Bureau of Real Estate Real Estate Broker License #01926671.

De Young Mortgage Honored With People’s Choice Award Recognition

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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