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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Spice Up Your Summer

Summer, easily the most relaxing & effortless season. A season full of sun, fun, family, travel & friends.

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Need a reason to celebrate this season? Fire up the grille, we’re about to take your BBQ from standard to SIZZLING!

To plan a party Martha Stewart would envy, we need to start by creating the perfect ambiance for your guests.

Start with simple lighting fixes to turn your backyard into an artsy outdoor seating area similar to your local summer restaurant.

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Light Up Your Life

Kicking off with kabobs we found a summer treat to satisfy any sweet tooth!

Strawberry-Brownie kabobs are easier than 1,2,3 & can be even eaten without any cooking.

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Take your grilling from drab to fab with this recipe for Spicy Pineapple Chicken Kabobs to add that extra flavor to your BBQ in a way that will leave all your guests raving for weeks.

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Ready?

Set?

Grille!

What are you going to do to beef up your backyard for your next BBQ?

Whatever you do, embrace your summer of sun & fun!

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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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5 Types of Homeowners That Should Refinance NOW

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What criteria are necessary if you are a homeowner with the possibility of a home loan refinance?

  1. Have you purchased your home prior to the last year?
  2. Do you have private mortgage insurance?
  3. Do you have an FHA loan?
  4. Do you carry a low (max 30%) credit card balance from month-to-month?
  5. Do you want to use home equity to pay for home improvements?

If you meet any of the above criteria then REFINANCE NOW!

Why?

It is beneficial for you!

Your rate will be lowered, more MONEY will be available and time will be saved.

CALL NOW to get pre-qualified for a refinance at (858) 500-4638 or fill out an online contact form!

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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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Things That Will Hurt Your Mortgage Approval Once You Have Already Been Pre-Approved

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Once you are pre- approved for a mortgage loan, you want to make sure that you watch certain things to maintain your loan approval. Even under contract things are not set in stone. First time buyers can get themselves in a bind if they do not take into account potential missteps that could threaten their deal. Here are some things to try and avoid once you are pre-approved (or approved):

Do NOT Go Credit-Crazy.

If you are sold on the way you want to decorate your new home, it might be a terrible idea to go out furniture shopping right off the bat. Wait until your loan closes before you go shopping and avoid huge expenses. Inquires on your credit can also affect you because it lowers your credit score and can influence your interest rate negatively.

Make sure your funds are clear.

If you have a gift from mom and dad and you deposit a lump sum of money into the bank, make sure you are verifying with your loan officer where this money is coming from. The last thing you need in the pre-approval process is to have your loan officer go through your bank records again.

Getting behind on bills.

Late payments are never good for your credit score, especially for a new loan. If you cannot make a payment on a bill, then how does your lender know that you will make a mortgage payment? They don’t, so it is likely that you will lose the deal if this happens.

Co-Sign on a Loan.

If you co-sign a loan, it means that you are responsible for another person’s debt. If they fail to make the payments then you are financially liable for taking over the debt that is accrued. Adding on more debt could eventually disqualify your deal.

Changes in Employment.

Obviously if you lose your job during the loan process it can be REALLY difficult to keep your loan. If you move jobs or become self employed it may become almost impossible to maintain the loan that was already approved. Make sure you let your loan officer know of any changes to your income, so that they can help you in the long run.

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