"Brexit"–and what it means to mortgage rates today

You have probably heard about the important vote in the United Kingdom: Britain will leave the European Union. What you may not know is the effect an event in Europe could have on you here in California. How “Brexit” affects you The results of Thursday’s election in the UK has roiled financial markets all over…

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The Truth About Mortgages

The Narrative If you pay attention to print and broadcast media, you’ve seen stories—lots of them—about how hard getting a mortgage is today. Banks have been upping their standards, they say, cherry picking only the very best applicants with flawless credit scores, lots of money in the bank for large down payments and long tenure…

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Mortgage Rates–the real story

If you own a home today, you are almost certainly being subjected to an avalanche of direct mail urging you to refinance your mortgage. Ads on the radio and TV are in your face constantly, making the same pitch. If you’re like most people, you tune them out. Now may be the time to act.…

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Quicken’s “Rocket Mortgage” catches CFPB’s attention

Anyone watching the Superbowl on Sunday couldn’t miss the ad series for Quicken Mortgage’s “Rocket Mortgage.” If you bought into their pitch, you’d think that you’d download their app, hit a couple of buttons on your phone and get your mortgage in minutes—like magic. The government agency charged with protecting consumers, aptly named the Consumer…

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Another mention in the media!

Are subprime mortgages coming back? I speak to a lot of journalists; between the circulation of “The Mortgage Insider” and the fact that I’ve been around as long as I have, they look to me as an authority for their stories. The latest was in the influential trade magazine, “Scotsman’s Guide.” Reporter Victor Whitman reached…

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All about appraisals

Whether you are buying or refinancing, getting a mortgage means getting an appraisal. Although a licensed appraiser does use some judgment in coming up with an opinion of value, the process is not as arbitrary or subjective as you might think. This movie explains how it all works. Transcript: One important part of your mortgage…

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What is an escrow, anyway?

There’s all this talk about “escrow;” it opens, we’re in escrow, it closes. What is “it,” anyway? What happens there? Who does what? This movie explains all. Transcript: If you’ve never bought a house before, you may be wondering about this mysterious thing called “Escrow.” It opens, it closes, we’re in it…what is “it,” anyway?…

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Those terrible closing costs on your mortgage

For many first time home buyers, finding out that they’ll have to come up with closing costs along with their down payment can come as a rude surprise. For mortgages requiring a low down payment, like FHA, VA and 97% conventional loans, the closing costs can be more than the down payment. This movie explores…

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Joseph M. Parsons NMLS #230285
Pinnacle Capital Mortgage,
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