Will A Trump Administration Cause Rates to Rise?

Since November’s election,  there have been many questions surrounding Trump policies and how they will affect Americans. One of the most common questions has been: “How will  the housing market be affected?”

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Speculation & debate have surrounded the basic question of “Will A Trump Administration inflate interest rates?”

The Washington Post states that concerns come from “Trump’s lack of housing policy proposals.” While Fox highlights that “The other side of the argument is that the mortgage interest deduction helps homeowners by lowering the cost of their interest on an after-tax basis. This deduction usually benefits first-time home buyers the most.” Despite the uncertainty & various opinions, there are a few facts to keep in mind when it comes to the Trump effect.

The Federal Reserve is a huge factor where mortgage rates lie, along with the inflation of the economy. The President alone cannot solely change the housing market, however, his policies can shape the direction in which the market leans. No one person can set the mortgage rates.

Donald’s policies on issues such as deportation & the Housing Department will set the tone for the direction in which the housing market proceeds. We could see an increase of costs for building a home if Trump sticks to his strict stance on deporting undocumented immigrants. The construction industry relies heavily on undocumented immigrants to reduce building costs through affordable labor. By having to pay more in labor costs, construction companies will have to offset the costs by charging the client (you) more.

We do not know the policies of Dr. Ben Carson, but what we do know is that his appointment as HUD Secretary could affect your monthly mortgage payment. As Secretary, Carson has the power to raise or lower FHA mortgage insurance premiums, which could increase or reduce your overall payment.

All we can do is wait and see what the future holds for us. However, there are a few outcomes that we can expect. Deduction of taxes through a freer market, home purchase costs to fluctuate, and increased mortgage interest rates.

In result, it’s challenging to predict exactly how Trump will affect the housing market, but you can prepare yourself by finding out what your options are for your mortgage.  Don’t start panicking just yet; it’s not too late to save yourself some money on your mortgage. With all indications pointing towards climbing interest rates, now is the time to act.

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Festive Fall Finds

Fall: The air becomes crisp, the leaves change colors and the days become shorter. As the seasons shift from hot & humid to chilly, doesn’t that make it the perfect time to transform your home decor to comfy & cozy?

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With so many options out there we took the liberty of tracking down some of our fall favorites for you to peruse.

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Craft your coffee table for fall with this easy DIY that you can put your own unique spin on.

Coffee Table Crafting

 In trance guests from your entryway to exit by giving your front porch its seasonal face lift. With a porch this inviting you have an excuse to heat up an extra cup of coffee, sit back and soak in the season amidst your cozy seating.

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For more inspiration check out these fabulous front porches.

Fall Front Porches

Sit back, relax & cozy up to the shift of seasons in your festive fall home.

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Hop Into Home Buying

Home Buying can be overwhelming & a bit intimidating, but we’re here to hold your hand every step of the way.

First Time Home Buyers

Is anyone else as obsessed with lists & “how to’s” as I am? If so… get your pens ready! The home buying process can be so daunting that you may not know where to begin… That’s where we come in.

Location, Location, Location.

Consider: commute, school district, crime rates & community

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Price

Know what you can afford.

Remember, mortgage payments, interest, HOA fees, PMI & property taxes. Compare your loan options and Call our purchase specialist, Chris to see whether a Conventional, FHA or Veteran loan would be the best fit for you. It’s good to know what you can afford before falling in love with a home out of your price range.

Realtor

They need a good & respectful understanding of what you are looking for & what you can afford instead of trying to oversell your budget.

Financing

After you have an idea of pricing and what type of loan option suits you, you’ll have a better idea of what type of down payment you’ll need to save for. Remember to ask if you qualify for NO closing costs & NO PMI options.

What you Need, What you Want & What Can Be Changed

Pay attention to the structural layout of the home & make sure it’s what you want because changing structural elements can be a whole new cost in itself. No house is perfect, but what is important is determining what can be changes & made perfect and what can’t be.

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Now that we’ve gone through our checklist, let’s get you financed.

Our Purchase Division is available to help you discover your financing options, to walk you through this process from start to finish & to make this as easy as possible for you & your family.

Chat with Chris today to get into your dream home.

(858)752-6480 or Click Below to get started today.

GET FINANCED

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Unplug from the World

Ah, 1998 when the world revolved around human interaction.

A world where WiFi & the iPhone didn’t exist. A time when you’d go to lunch with someone & you wouldn’t fall victim to watching them text 85% of the time.

The holiday season needs to be about family & spending time with those closest to you. In the tradition of that quality time I wanted to come up with something that you could create together that would bring you down to earth.

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I twiddled my thumbs a little (withdrawal from texting) & thought about what would motivate me to plug into family time.

Cocktails are a place to start. Dashing left & prancing right… I came across a few Holiday Hoorahs that I look forward to sharing with my family. I lucked into a recipe that enticed my senses by combining my three favorite things: candy canes, chocolate & cocktails. Behold the White Chocolate Peppermint Bark Martini (See recipe at bottom of page)

While you are all gathered around sipping on your sweet treats you can get a jump on your decorating by crafting Winter Luminaries.

For each luminary, all you’ll need is: a mason jar, 2 mini pine cones, lace, twine, hot glue gun, snow texture spray, Epsom salt & a tea candle.

Easy right? ( The full dets. are in the link below)

White Chocolate Peppermint Bark Martini

2 oz. white chocolate liqueur
1/2 oz. vanilla vodka
1/2 oz. peppermint schnapps
Splash of milk or cream, to taste

White chocolate, melted, for rimming the glass
Crushed peppermint candies, for rimming the glass
Whipped cream, for serving

Method:
1.   Melt the white chocolate in a shallow dish, and dip the rim of the glass into it. Shake off any excess, then dip into the crushed peppermint candies. Place glass in the freezer for 5-10 minutes to set.
2.   Shake liqueurs with ice, then pour into chilled glass. Add milk or cream, to taste.
3.   Top with fresh whipped cream and more crushed peppermint candies, for garnish.

http://relish.com/articles/15-creative-garnishes-for-your-holiday-cocktails/

Winter Luminaries:

http://craftsbyamanda.com/snowy-pinecone-candle-jars/

Once your family has gotten it’s fill up qt time make sure to give us a call to see what we can do to help you & your family stay stress free this season.

At Global Equity Finance we want to make your home as happy as we can for the holidays.

(800)245-EASY (3279) or stop by our website at www.geqfinance.com 

Smarter Loans, Happier Homes

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It’s Time to Make Your Moves

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I don’t know about you, but money is the last thing I want to think about when I’m doing my holiday shopping. This year I can’t tell myself “It’s ok, I’ll deal with my finances after the New Year.”…

The Federal Reserve is holding it’s follow up meeting on December 15th & 16th to decide if they want to raise the short-term interest rates.

If you’re like me you might be thinking “Oh I don’t own a home this doesn’t affect me.”  However, (dramatic pause for effect) we are COMPLETELY wrong.

If the Fed decides to raise the interest rates, it becomes more expensive for banks to borrow money which in turn gets passed onto the us…

Not only does this raise affect home mortgages, but it will also affect your credit cards or any other commercial product’s interest rates.

Most people tend to rack up pretty high credit card bills during the holiday season to buy their loved ones gifts, I am no different. With this rate raise coming though, I started to panic & wondered what I could do to prepare my finances for this hit.

The obvious would be to pay off all or most of my credit card debt & put away the cards. For me that means no more Starbucks binges… EEK!

If you can’t manage to pay off all of that debt you can look into getting another card that has a lower APR & a zero-percent transfer policy. What that means is that any card balance you have that has a high interest rate you can transfer to a card with a lower rate to pay it off easier without having to pay all that pesky interest.

Another easy step could be allowing our team here at Global to take a look at your mortgage and see where we can save you some extra money by refinancing. If you’re on an adjustable-rate mortgage now is the time to lock in a long term fixed rate while rates are still at record lows. Even if you are on a fixed rate mortgage & you’re happy with your rate, we can get some cash out of your home to pay off that debt or to shower your loved ones (or yourself) with gifts this season.  

If you’re like me and you don’t own a home yet, now could be the right time to take that step. Home prices are only expected to keep rising right along with the interest rates of the loan needed to buy that home you’ve had your eye on.

Here in Sunny San Diego we have the sunshine tax & unfortunately it gets added onto everything, especially rent… Why throw away your hard earned money on renting a temporary place when you can put that same payment towards building a home & future for yourself?

If you hold stocks or bonds, it’s time to reevaluate those assets. Once the rates start climbing the value of those bonds will take a steady decline in value & if you’re not planning onto holding onto these for the long haul, it’s time to cash in.

 

Let us help you figure out your options & how we can save you your hard earned money.

Give us a call at (800)245-3279 or visit our website at www.geqfinance.com

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A Salute To Our Veterans!

Roger, copy, coming in!

The largest annual air show in The United States took place in San Diego over this last weekend, October 2nd-4th. Aircrafts were soaring high and low, audaciously performing for an estimated audience of 700,000 people!

A variety of different types aircrafts were exhibited as well as flown.

During the three-day event, the show’s daily performance agenda included military and civilian aircrafts, with the spotlight on the U.S. Navy Flight Demonstration Squadron, the Blue Angels, and a special Saturday night “Twilight” Show.

Since 1999, the Miramar Air Show has often featured a Navy Legacy Flight, where modern jets fly in formation with aircraft from previous eras in celebration of military veterans and naval aviation history.

That’s really what this whole event was about. Celebrating our veterans, the mean & women who sacrifice themselves for our Freedom.

Now that you’ve fought for our Freedom, we want to fight for yours. Your Financial Freedom.

At Global Equity Finance, we work with The U.S. Department of Veterans Affairs to ensure that when it comes to buying a home for our veterans and their family, they have the best possible option.

Our VA Loan Program has a multitude of never-ending benefits for our veterans. You can purchase a home with ZERO down payment, there’s NO monthly private mortgage insurance, you can take cash-out, and the list goes on and on.

These benefits are here to make purchasing a home easier and more accessible to those who have served our nation.

If you think you qualify for a VA Loan, you’re probably right.

Give Chris Logorz, one of our Veteran Senior Loan Consultants, a direct call (858)952-7795, to see what type of VA Loan we can get you started on.

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Bi-Weekly Mortgage Payments…Are They Worth It?

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Want to SAVE some CASH? Bi-weekly mortgage payments could be the solution! Let GEQ be your hero!

Some say that bi-weekly mortgage payments are helpful when trying to pay off your mortgage quickly. Every 2 weeks you will make your payment saving you TIME and ENERGY in the long run. This adds up to 13 payments total per year, as opposed to 12.

How does that math work?!?

Is it worth switching to a bi-weekly mortgage plan, or is it too risky?!?

Here is a breakdown of the pros and cons of bi-weekly mortgage payments.

  1. Pro: They help you pay off your mortgage faster
  2. Con: You have to do 13 payments instead of 12, ensuring that you will be paying more money. This can be a problem in the case of losing a job, or not being able to pay both payments in the month.
  3. Pro: If you self-manage your “bi-weekly” payments, then you are able to pay more principle and thus able to “skip” a month if necessary.
  4. Con: There is likely a fee to participate in this program.
  5. Pro: bi-weekly payments are GREAT if you can refinance and mortgage rates are low.

What matters: affordability!

If you have a busy schedule and self management is not an option, have your bank DO IT FOR YOU! Simple and stress-free!

Want to relieve some stress? Get pre-approved in 45 seconds and call us NOW at (858) 500-4638 or fill out an online contact form!

 

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Should You Renovate or Relocate?

Sometimes it is easier to move into a new house that has less work needed to be done than to stay in the one you currently reside in. Renovations can be expensive and time consuming. How do you know what you should do? What kind of criteria will affect your decision?

Ask yourself these questions to help you decide what’s best!

How do you feel about your neighborhood?

Do you like the area? Is it somewhere you can see yourself being for 10+ years? Is it close to a school or work? Do you like your neighbors? It is really important that you recognize a good neighborhood when you live in one. Don’t lose it just because you need to do some fixing up!

Memories can last a lifetime, but can your house?

Some homes are close to the heart, whether you watched your first born grow up there, or it was you and your significant other’s first home. Sometimes if this is the case, it is better that you renovate the small stuff (or big stuff) rather than giving up those memories for a new home.

Can you afford to renovate or relocate?

If you plan on renovating, obviously the cost can add up over time. Depending on the size of the project, you may have to factor in costs for living somewhere else during the renovation. If you choose to buy a new house, there is a chance that your newer house will be more expensive than what your current one sells for. You would then add that cost onto your new mortgage loan. Another thing to think about is the cost of moving.

Patience is a virtue, can I do it?  

Either way, building a new home or renovating your existing home will take some time. Every little detail matters when you are choosing what you should do. Is time of the essence, or should you hire a professional for help? Sometimes it is easier to defer the stress and let someone else handle the renovation or prepare your new home. It just depends on how much time you are willing to wait for the finished product!

renovate

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Tips for Getting Your Home Ready to Sell

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Today’s real estate market is swarming with great deals, especially here in San Diego. As you are preparing to sell your home, what are the most important factors in determining how long you will wait to get a bite? What are some of the things that you can do to improve the chances of selling within the first year? Obviously, you want to get what you put into it, and then some.

So, that being said, what’s next?

First, you should find out what exactly your home equity is, and then take up to 20% off of the price. Once this happens, there will be multiple bids all increasing the price of what you are asking.

Advice:

When your broker sets up an open house or walk through, you want to make sure that you turn up the light! Make your house cheery and welcoming. Have your belongings tidy and organized, no one likes a messy house—that is of course if it is not their own.

What is one of the biggest factors when choosing a home?

SPACE! A tip to open up some space and make your house look more roomy is to clear out unnecessary items from your bathrooms, closets, and cabinets.

Turn OFF:

Pets are not what a potential buyer wants to see when walking through their future house. Their hair gets stuck everywhere and whether you know it or not, it smells. Make sure they have a place to go if you have buyers coming by to check out your crib.

Always remember: the first impression is the only impression. This is the only chance you will get to show your stuff and gain a potential bid. We hope that these tips will help you when you are selling your home. Good luck!

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Guide for First Time Home Buyers

One of the most difficult decisions you will make in your lifetime is choosing a place that you will call “home.” Whether searching for yourself or your loved ones, you must consider all of your options with time and attention. To make things a little easier on you, Global Equity Finance has created five basic principles that you should seek out when purchasing your first home.

  1. First, decide what type of home you are looking to purchase whether it be dependent on size, location, front or backyard space, single or double story, condo, or a multi-family home. The most common concern with consumers is whether to purchase a small space for an individual or couple, or to invest in a larger space to accommodate a potential family. The neighborhood of your new home is also an important factor because it can greatly impact your decision to buy as well having the capacity to influence your home value in the long run.
  2. When searching for your dream home it is important to keep in mind what you are able to spend. Like the popular saying, “Don’t bite off more than you can chew,” as a buyer you never want to spend more than you can afford. The asking price of your new home is important, but other factors such as property tax, insurance, Home Owners Association, and improvements to your house should also be taken into consideration.
  3. Once you have considered the style and price, your next step is for a real estate agent to find a home that best suits your wants and needs. The process of purchasing a home can be a bit chaotic, but that’s why you have an agent who is experienced to guide you through the process.
  4. When you have finally made an offer on your future home, that is when escrow comes to play leading to the closing process. It is just a waiting game until you are finally able to call this house your home!
  5. Last but not least, it is time to celebrate! The most important thing is to enjoy this milestone in your life! Cheers, to your new home!

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