The Value of Bay Equity Service

Posted by at 10:49 am

Whether first-time home buyers or veterans of the mortgage game, Bay Equity Home Loans’ borrowers receive tremendous value working with our experienced, knowledgeable loan officers. Whether or not they’re ready to buy, Bay Equity’s teams educate potential homeowners on the steps to take. Communication and transparency begin the moment of first contact, and continue long after the closing documents are signed, says Mission Viejo, CA, Area Sales Manager Frank Blakeley. Hermie Arriza and his family closed their first home loan with Frank in February, deciding to purchase the home they’d been renting. “I want to have clients for life. If people aren’t ready to buy, I still work with them,” Frank says. “People trust I have their best interests at heart.” Bay Equity offers a wide array of mortgage loan products including FHA, Conventional, USDA, Jumbo and VA loans. Bay...
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Bay Equity: Building relationships to last

Posted by at 11:30 am

For the very best in customer service, borrowers keep coming back to Bay Equity Home Loans. Once a borrower is in the thick of the mortgage transaction, they quickly realize how much deeper the process goes. There are so many questions – things to learn, documents to pull together, papers to sign. Here’s where Bay Equity shines. Our loan officers always add a deep commitment to the highest standards of local, direct customer service. That commitment keeps customers coming back time and time again. Just look to Montgomery, AL, where Krystal and Stephen Williams financed their first home with Jennifer Johnston back in 2016. When they were ready for a move-up home in late 2018, they didn’t consider anyone else but Jennifer and Bay Equity.  “We just love her,” Krystal says. “She was wonderful.” Bay Equity’s seasoned team of professionals...
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First-time home buyers finding options

Posted by at 4:06 pm

According to a study by the National Association of Realtors, more than 70 percent of non-cash, first-time home buyers – and 54 percent of all buyers – made down payments of less than 20 percent over the last five years.

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January 11th, 2019

Saving for retirement takes careful planning

Posted by at 12:12 pm

Remember the story of the grasshopper and the ant? In times of plenty, the grasshopper played and played, while the ant stashed and stored for the hard winter ahead. When it comes to retirement, you should be thinking like an ant, not a grasshopper. In 2018, long-stagnant wages are finally on the rise, according to the Bureau of Labor Statistics. Earnings are up more than 83 cents an hour year-over-year, the largest such increase since 2009. The human – and grasshopper –  response to extra money in a paycheck is an accompanying increase in personal spending. Instead, experts recommend small sacrifices today to set up a better tomorrow. While everyone has at least some degree of control over income, they have a great deal of control over spending. Top areas of compromise are: Driving older vehicles Taking fewer and less...
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A New Year’s path to homeownership

Posted by at 12:44 pm

The New Year always begins with New Year’s resolutions – with a list nearly always topped by getting fit (i.e. giving up fatty food, alcohol or smoking), getting organized or taking better care of finances. Our Bay Equity Loan Officers are experts in helping customers make a similar list of resolutions. Let us help you make it a happy New Homeowner’s Year, too. Ready to get started? Credit Check:  Good credit is key to getting a mortgage but it takes discipline and planning. First, find out what your score is. Pay bills on time, and work to improve your credit establish it independently by opening up checking/savings accounts and using credit cards carefully. How much? Figure out how much you can spend with a handy mortgage calculator. Don’t forget to consider closing costs, ongoing maintenance and insurance, too. Experts recommend...
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December 15th, 2018

HUD announces new FHA loan limits for 2019

Posted by at 2:10 pm

The Federal Housing Administration (FHA) is raising loan limits for most of the country in 2019. The FHA’s loan limit ceiling is increasing in more than 3,000 counties, with the loan limit in high-cost areas increasing to $726,525 from $679,650. FHA will also increase its floor to $314,827 from $294,515. Single-family forward loans are limited to 115% of median house prices, subject to a floor and a ceiling. FHA also set its maximum loan limit ‘ceiling’ for high-cost areas at 150% ($726,525) of the national conforming limit. Click here to see county-by-county limits and read the FHA letter to mortgagees...
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Housing taking a peak?

Posted by at 11:02 am

After rapid acceleration for most of the past two years, home prices in many parts of the country are slowing as interest rates rise and inventory in some markets increases. Evidence that the market is cooling can be seen in price drops. In October, 31.3 percent of homes for sale had at least one price drop of more than 1 percent after listing, 6.3 percent higher than last October’s level of 25 percent. Ten years after the financial crisis, the notion of a housing “peak” – which would naturally be followed by a downturn – seems downright spooky. Is it time to start talking about a “housing bubble?” Most economists say no. Historically, price crashes are usually caused by over-supply. In contrast, the present moment is probably a simple “cycle top” – the kind of correction normal in any consumer...
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October 17th, 2018

Itemize cut down to size

Posted by at 9:36 am

It’s hard to believe, but it’s almost 2019. Time to start thinking about your 2018 tax return in the first year of the Trump-Republican tax reform. Whether the changes help or hurt you, there’s one thing that seems nearly certain – a lot fewer filers are going to be itemizing. The standard deduction has nearly doubled, from $6,350 to $12,000 for single filers and from $12,700 to $24,000 for married filers filing jointly. Theoretically, far more taxpayers will be discouraged from itemizing, leaving a lot fewer deductions for IRS workers to verify. Even with the lower standard deduction, only about 30 percent took the time to itemize last year. With the big increases, it could go down to single digits. But the increased standard deductions aren’t the only reason taxpayers might skip itemization. Many deductions have been reduced or eliminated...
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July 24th, 2018

Tree party etiquette

Posted by at 6:39 pm

As a homeowner, you may have occasion to share a tree with your neighbor. Most of the time, a neighboring tree provides shade, home for songbirds and general aesthetic appeal, but not always. Conflicts can arise if you feel a neighbor’s tree has become a nuisance or a danger to your property, but it’s important to know your rights and responsibilities before taking any drastic measures. Tree law varies from state to state, but there are general standards defining what you can and can’t do. All states allow you to trim branches and limbs overhanging your property, but you can’t trim them beyond the line. If you harm the structural integrity or appearance of the tree in the process of trimming it, you could be found liable for up to three times its value. Therefore, it’s always advisable to do...
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Time to plan your escape

Posted by at 2:39 pm

Want to combine the unpleasant experience of being locked in a room with the tedium of solving complex puzzle problems? While this may not sound like a lot of fun at first, the “escape room” experience has become something of a cultural phenomenon. But you don’t have to pay big dollars for a high-tech experience at one of the many businesses hosting the games. Whether dinner parties, family game night or birthday bashes, you can design and build your own escape room at home. It can be a bit intimidating. Isn’t it going to be a lot of work and cost? After all, don’t businesses make huge outlays for authentic costumes and high-tech gadgetry? Take a deep breath. The true magic of the escape room experience lies in creating puzzles that are difficult without being frustrating, and hiding essential clues...
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