Marin Mortgage News

The latest news on mortgages and green-lending practices in Marin County and the San Francisco Bay Area.

Found 126 blog entries about Marin Mortgage News.

As a value-added service to our Marin Modern Real Estate clients, website visitors and guests, I'm pleased to announce that Nicholas Ballard,  a local and well-respected mortgage professional in Marin County with California Mortgage Adivsors, Inc., will serve as a contributing editor to our popular Marin real estate blog.   

As a blog contributor,  Nicholas will share his wealth of knowledge regarding the mortgage industry and also offer timely insights and tips regarding the residential lending market.    You can keep track of his bi-weekly updates by following the Marin Mortgage News thread of our blog.

On a personal note, I can tell you that Nicholas has helped a number of our Marin Modern real estate clients and he consistently receives high marks

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In buying a home, the two major components most people focus on are the down payment and the loan amount (monthly mortgage payment). But there are other costs to consider as well; property taxes, insurance and closing costs.

Property Taxes: The next big expense in owning a home, besides maintenance and improvements, is property taxes. Property taxes are approximately 1.25% of the purchase price in Marin - paid twice a year or paid out by an impound account. If you are buying a $800,000 home, your yearly property taxes would be about $10,000 year ($833/month). If you are buying a $1.5M home, your property taxes would be around $18,750 year ($1,500/month).

Home Insurance: Required by lenders, but also should be purchased if you are buying a home with

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Yesterday the Treasury successfully auctioned off $27 Billion in 7 year notes with bids being much higher then expected. As a result, the benchmark 10 year treasury note closed at a much lower 3.50%. This means that mortgage rates also moved lower (improved) today and will likely improve again early next week.

If you have been sitting on the fence, and were disappointed in missing the very low rates that existed 4-8 weeks ago, this may be your opportunity.    Whether you are interested in refinancing or buying a new Marin home or condo in Marin, now might be a good time to explore your options especially since home prices are down and inventory is starting to rise in Marin County.

Below you fill find a summary of current rates.  If you'd like to

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Whether you are in the market to buy a home in Marin County or are simply exploring your options for refinancing your current mortgage,  now is a fabulous time to take advantage of the incredible low interest rates that are out there.

Residential mortgage rates are currently at all time historic lows. The graph above shows US average mortgage rates over the past 36 years.  Oddly, the website where this information was obtained (Mortgage News Daily) hasn’t updated their graph to reflect improvements in fixed rates over the last month - now in the 4.75-5.25% range.

You get the picture though, if you can qualify to refinance, think about doing is now and lock into lower monthly payments.

Feel free to contact me if I can assist you with your real

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I was reflecting back on the roller coaster ride we've all witnessed within the mortgage industry and came upon an article entitled Fannie Mae Eases Credit To Aid Mortgage Lending which first appeared in the New York Times on September 30, 1999.

This article from 1999 makes for an interesting read and helps underscore that the credit crisis we are in today stemmed partly from political policy decisions made over a decade ago. All finger pointing aside, the backlash of any financial crisis is the pendulum swinging to the opposite extreme. The days of sub-prime lending and mortgage qualification without income verification are gone and underwriting standards have tightened drastically across the board. For conventional loans, Marin County home buyers need

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We’ve long been known for our environmental ethic in Marin County, California. As green building techniques gain in popularity and everyone seems to be talking about LEED® Certification, some of you may be asking: Are there any eco-friendly financing options available for my home? It turns out there are a few options with established local companies.

  1. Newresource Bank – This San Francisco based bank opened their doors in September 2006 and has been growing rapidly ever since. Their mandate is to provide banking services for green minded clients and to provide financing for sustainable business entrepreneurs. They offer standard depository services, construction loans and also have an extremely popular solar loan program.  
  2. JCF Advisors – This
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