Happy Thanksgiving everyone :)

Homes & Money Newsletter

Homes & Money Newsletter (4th Quarter 2013) (8.5x11)

RMC Magazine - November 2013

YOU Magazine - November 2013

RMC Supports Medical Practitioners

Once again, our very own Aaron Anvaripour and Pooyan Fard head out to Pasadena to lend free consultation to medical practitioners. RMC believes in giving back to professionals who take good care of us. Anvaripour and Fard are senior loan officers who are extensively knowledgeable on FHA, conventional, refinance, reverse, jumbo, cash-out, and VA loans.

For a free consultation with either Anvaripour or Fard, please PM us a number to reach you or call 310-318-8999.

October Yelp Reviews

Check out our October Yelp reviews! Thank you so much Andy, Michele, and Nick for the kind words :) It was a pleasure working with you!
RMC Yelp Reviews
http://www.yelp.com/biz/redondo-mortgage-center-redondo-beach

RMC is QM, ATR Ready

Qualified Mortgage (QM) is the Consumer Financial Protection Bureau’s (CFPB) Ability-to-Repay rule designed to protect consumers from availing of mortgage that they cannot retain or eventually pay off. This is put in place for stability in the mortgage market, avoiding the financial crash the U.S. underwent in 2008.

In a nutshell, the ATR strives to ensure qualification for borrowers, fees and points are not excessively charged, debt-to-income (DTI) ratios are capped, higher qualification rates on adjustable rate mortgage (ARM) loans, elimination of interest-only programs, and that loan terms no longer extend to 40 years.

At Redondo Mortgage Center, these checks and balances have long been in place and implemented. RMC’s internal quality control calls for the issuance of a Good Faith Estimate (GFE) which discloses points, fees, and other closing charges to show borrowers that they are not being excessively charged as the ATR stipulates. Prior to releasing a pre-approval, RMC is required to underwrite files that rigorously checks the borrower’s credit, income, collateral and all other factors ATR is enumerating that needs to be verified. This does not only ensure that the borrower can legitimately shop for a home, but that he or she is qualified to avail of financing. In the South Bay, pre-approvals from RMC are widely honored with confidence by real estate agents. Being in the industry for nearly 25 years is indicative of RMC integrity.

RMC believes in giving all those qualified, the opportunity to avail of a home. If it is found that a borrower is not ready to purchase a property, RMC will not recommend getting into a home loan. But instead, its officers guide prospects through the preparation so they may be ready for the homebuying process. Only at the appropriate time and with the right qualifications will RMC facilitate the financing process.

While there is quite a buzz about the stringent guidelines of QM, rest assured, RMC has already been long facilitating transactions under strict, internal quality control. And while others may find it quite an adjustment, we at RMC have already mastered our compliance, allowing no downtime in closing loans.

For reference and a guide to QM and ATR please click on the link: http://www.consumerfinance.gov/blog/qualified-mortgages-explained/

Low Down Payments

Low down payment options for various home financing needs. Call Redondo Mortgage Center now to qualify 310-318-8999.

Aaron Anvaripour Five Star Professional Nominee

Redondo Mortgage Center (RMC) Sr. Loan Officer Aaron Anvaripour received word of his nomination as a “Five Star Professional” on October 16, 2013. On a written correspondence sent to Anvaripour, John Kimball research director for Five Star Professional wrote that after surveying local homebuyers and real estate agents, “Your name was brought forward. Respondents evaluated mortgage professionals they have worked with on six important client service criteria and you scored highly to qualify for the 2014 award.”

Five Star Professional is a research organization set out to conduct studies on service professionals to help consumers make informed decisions prior to engaging in business. The Five Star Professional research team applies a vigorous research and evaluation process to identify service professionals who provide quality services to their clients. Five Star Professional follows standard survey practices used by other professional research organizations. The research also includes a regulatory review to provide necessary checks and balances.

Anvaripour has been with RMC for eight years and has always conducted business professionally and ethically. “He is truly desserving of this nomination.” beamed Amir Amiri, CEO of RMC. “Clients return to Aaron for their subsequent home financing needs after having experienced his excellent customer service.” Amiri ends proudly.

On its 11th year, Five Star Professional conducts market-specific research throughout the U.S. and Canada to identify reputable and trustworthy service professionals. Winners will be announced in March 2014. “Just to be nominated by my clients is already an honor. I am truly thankful that they appreciate my work enough to put my name forward.” Anvaripour shares.

6 Ways the Government Shutdown Affects Home Loans

6 Ways the Government Shutdown Affects Home Loans

6 Ways the Government Shutdown Affects Home Loans

The last time we went through a government shutdown in 1995, it was a pain, but not a panic. With Monday's news that the government is in the midst of a shutdown, it's important to remember that all mortgages purchased and securitized by Fannie Mae and Freddie Mac will not be affected, since their operations are paid for by the fees charged to lenders and borrowers.

Others may not be so lucky. The six points below illustrate how government-affiliated mortgage loans and critical steps throughout the loan process may be impacted:

1. Federal Housing Administration (FHA) Loans: With the shutdown, we may see delays but not a complete stop to FHA loan closings. A report from the Department of Housing and Urban Development has stated that FHA's Office of Single Family Housing will remain open for business, albeit with a smaller staff. The office will continue to endorse loans and it doesn't expect the impact on the housing market to be "significant, as long as the shutdown is brief."
   
2. Department of Veterans Affairs (VA) Loans: Like the FHA, disruption is possible–but not absolute. The VA will continue to guarantee mortgages for Americans who have served in the military, since these loans are funded by user fees. It warned, however, in its September 25th contingency plan, that Loan Guaranty certificates of eligibility and certificates of reasonable value may be delayed.
   
3. IRS Tax Transcripts: If a loan requires the verification of at least one previous IRS tax return, this process may be delayed. While prior years' tax transcripts can be ordered online, there is no indication whether an automated fulfillment system will be impacted.
   
4. Verifications of Employment, for Government Employees: If a federal government employee is seeking a mortgage, and his employment verification is required prior to closing, a lender may be unable to verify this during a shutdown.
   
5. FEMA Homes: Homes in flood zones would not be able to close, as flood insurance could not be obtained.
   
6. USDA Loans: During the shutdown, the Department of Agriculture's doors will be shuttered. According to the USDA, no new housing loans or guarantees will be issued through its Rural Development programs. The USDA has also warned that a long shutdown will result in construction setbacks and "a substantial reduction" to available rural housing relative to population. 

Stay tuned for updates on this very important time. If you have any questions, please call or email me today.

Two Things You Need During the Homebuying Process: A Solid Spouse and a Reliable Real Estate Agent

As I sit on my desk pondering on what to blog about this Friday morning of October 11, I find myself suffering from a writer’s block. No ideas, no concepts, no subject matter, hence, no words.

I am amidst a home-buying and home-selling situation and with two young children, an eight-to-five job, and house chores, I am drained.

I am learning though that there are two things good to have when you’re amidst a homebuying process—a supportive and positive spouse and reliable real estate and loan agents.

First you need the solid support of your partner to bounce off thoughts and weigh pros and cons when considering a property that may end up being your lifelong home. I usually decide with my heart and thankfully, my husband is practical and mathematical. Plus when I get so engrossed on checking my MLS link (Multiple Listing Service is a resource sent to you by your real estate agent to communicate prospective properties), there is a partner who remembers to prepare milk for the baby.

Second, you need to have a reliable real estate agent who looks out for your needs, not his. Ours is Rodman Amiri of Merit Real Estate who knows our budgets, knows our needs, and knows our tastes by heart (including our eldest daughter’s, Jamie, who longs for yard space for a jumper on her birthdays.) He makes sure that the areas we vie for are conducive to raising a family. He anticipates our future plans (I told you how he knows these by heart) and makes sure the homes we look at have room to grow into. Finally, he looks out for the price. He studies the comparables—list of surrounding homes with the same specifications in a particular neighborhood—and all other real estate factors that allow us to make the right offers and not overbid. He disregards a property if it is not suited for us even if it may mean earning him a bigger commission. He wants our mortgage payments to be comfortable for us to keep the house for the long-term. Lastly, I cannot thank him enough for his patience and perseverance. For all of my family’s collective desires in finding a house, and selling our current one, he always meets those needs. And I say always.

Finally, you have to have a stable financing company behind you. Redondo Mortgage Center (RMC) has been around South Bay for nearly 25 years. It is good to have a solid pre-qualification on hand before you even start shopping for a home. RMC will guide you through the process and ensure that you are qualified to make an offer.

I will not say that homebuying is completely stress-free. Particularly if you are hormonal like me. But with partners alongside you who make the process adventures as opposed to arduous, there is a lot to look forward to than stress about. It is certainly comforting to have a partner who can put you in a realistic perspective and a real estate agent who remembers that a yard needs to be big enough for a bouncer.

I guess I no longer have a writer’s block J

-MMG

"I Want to Make Sure Buying This Home Works for Me"

Don't we all?

We often get excited about a house or a certain space in it that we tend to overlook the use of space. Will it fit furniture we currently have? Or will we need to furnish it more? Will the size be sufficient for our needs?

It's always good to take measurements and assess how you will lay-out your existing furniture and appliances. One thing you could do is also draw in your existing furniture on a photograph of that space so you can see if that works for you.

This photo is a sample of what you can do to envision the use and capacity of a specific space. One of our clients was considering this home and wanted to be able to imagine if their existing furniture and decorative items will suit the space in this prospective property.

All the furnishings that they incorporated in this lay-out are pieces they already have in their existing home. By super-imposing the pieces on the open space, they were able to envision and see that the new space works for them hence they made an offer on the property.

If you have a space and would like us to help you envision if it works for you, write to info@redondomortgae.com and we can try to help virtually furnish a space. Beyond this, we can also pre-qualify you to purchase that specific home so when you find that the space works, your financing is already in place :)

Rates Steadily Drop as Feds Postpone Tapering Purchase of Bonds

For those of you waiting for rates to decline, now may be a good time to proceed with homebuying and refinance. As confidence in an improved economy increases, rates continue to go down, giving you the right opportunity to lock in on your home financing.

As the Federal Reserve Board holds off on tapering bond purchase, “mortgage rates tumbled down this week” Sr. Loan Processor Brady Benham at Redondo Mortage Center reports:

4.47% (30-year fixed)
0.33 (average points)

The 30-year fixed-rate mortgage fell 19 basis points to 4.47 percent. A basis point is one-hundredth of 1 percentage point.

The 15-year fixed-rate mortgage fell 17 basis points to 3.53 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, fell 13 basis points to 4.64 percent.

The 5/1 adjustable-rate mortgage fell 14 basis points to 3.41 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.

Subsequently, as the real estate market stabilizes and slowly deflates the “seller’s market bubble,” it opens up opportunities for homebuyers to avail of a home at lower interest rates.

For any homebuying or refinancing questions you may have, please do not hesitate to call any of our officers at 310-318-8999 for a free consultation. You may also visit www.redondomortgage.com

Source: http://www.bankrate.com/finance/mortgages/rate-roundup.aspx#ixzz2gOK8n0Ey

RMC at the Service of First-time Homebuyers

POOYAN FARD OF RMC hosted a free consultation booth at the Crowne Plaza in Redondo Beach last Sunday. Pooyan lent advise and tips to brides and married couples to-be on buying their first-home, getting their credit situated, and what documents to prepare in qualifying for financing.

Hosted By Pooyan Fard, MBA  BRE 01917095 NMLS 862460

For a free consultation on homebuying and refinancing, please contact Redondo Mortgage Center at 310-318-8999 or visit www.redondomortgage.com

Better Rates=Home Affordability

Better Rates
Mean Better Chances
of Affording
a Home

We Will Never Forget

RMC is Giving Away 10-$50.00-Value Bride World Expo Tickets

Redondo Mortgage Center Invites you to The Bride World Expo
Sunday, September 22, 2013
10:00 AM to 4:00 PM
Crowne Plaza Hotel and Resort
300 N. Harbor Drive, CA 90277
We are giving away 10 Free Passes. 
Each ticket admits One bride and four of her additional guests.
A $50.00 Value!
Just reply "Best Wishes RMC!" to this post or directly to info@redondomotgage.com to have your free ticket mailed to you.
First 10 respondents by the end of the day will receive one free pass for five people.

Winners will be notified via private message or a direct response via Email.
For promo details and more information, please call 310-318-8999.

FEEL FREE TO FORWARD TO ALL YOUR FRIENDS WHO JUST GOT ENGAGED!

Redondo Mortgage Center at the Crowne Plaza on September 22

Come visit RMC's booth on Sunday, September 22 at the Crowne Plaza Hotel in Redondo Beach. We will be there from 10:00 AM to 4:00 PM giving out goodies and lending free home loan consultations to soon-to-be brides and married couples. We are at booth #112 by the door. See you there!

RMC at the Annual Wine & Beer Festival Trump National Golf Club

Senior Loan Officer Pooyan Fard mingled with wine & beer aficionados Sunday, August 25th at Trump National Golf Club.

Amidst the festivities, under the perfect Sunday sun, Pooyan was flanked by many curious homebuyers and homeowners who are considering refiancncing. Offering not only a wide array of programs for home financing,

Redondo Mortgage Center is best known in the Southbay community as a stable, reputable and socially responsible company who has been around for nearly 25 years. Its expertise lies in carefully structuring home loans that is most beneficial to its customers for the long term.

An active participant of community-driven events, RMC supports programs that build camaraderie and friendships. Beyond this, its corporate social responsibility arm is also keen on sponsoring community events for the Southbay youth, teachers, nurses, local law enforcers, and firefighters.

Redondo Mortgage Center at the Service of Medical Practitioners

Last Thursday, August 22, Aaron Anvaripour and Pooyan Fard of Redondo Mortgage Center hosted a free consultation during Gannett Publishing’s Nurse Career Fair held at the Hilton Universal City.

The senior loan officers lent free home-buying and refinancing advise to nurses, medical technicians, and other professionals in the practice. Part of RMC’s program is to educate its clients, current and future, on how the home financing process works and the steps they need to undertake to make their dreams of homeownership come true.

In addition, those who are still preparing to purchase or gearing up to refinance were also given valuable information on these processes, including keeping scores up on and repairing credit.

“Redondo Mortgage Center firmly believes in giving back to professionals who chose careers dedicated to community service.” Corporate Social Responsibility Head Mara Gaborro, shares. “Our CEO, Amir Amiri is always seeking programs and avenues to help nurses, firefighters, men in uniform, and teachers towards the best path for homeownership.”

For any homebuying or refinancing question, please feel free to contact RMC at 310-318-8999 or visit www.redondomortgage.com

Free Consultation Today to Qualify for a Lower Rate!

Check and see if it's beneficial for you to refinance to a lower rate today before they continue to rise. Redondo Mortgage Center's loan officers are readily available for a free consultation from 9:00 AM to 5:30 PM PST. Call 310-318-8999 for a quick quote.

On the same note, it may be a good time to look into your home-buying options to catch the lower rates. If you have been long considering purchasing a property, Redondo Mortgage Center can structure a financial plan most beneficial to you and your family's specific needs.

We have well-qualified financing professionals who can accommodate your inquiries today: Aaron Anvaripour, Pooyan Y. Fard, Ron Riggs, Rodman Amiri, and Monica Kobrinsky Steiner are among the experts you can speak with today.

Hurry! Call 310-318-8999 before rates completely skyrocket!

Frank & Brady's Joint Birthday Bash

Happy Birthday to our Dearest Frank Emami, property manager, and Sr. Loan Processor Brady Benham.

The best is yet to come!

Sincerely,
Your RMC family

Congratulations to our Cheers RMC promo winners!

Congratulations to our Cheers RMC promo winners!

Michael Cobo
Kevin Shenasi
Farhad Khajavand

See you on Sunday, August 25 at the Trump National Golf Club for the much anticipated Wine and Beer Festival.

All those who participated in the contest will receive a $10.00 Starbucks gift card via mail.

Cheers RMC!

School starts soon!

Have you settled in your new home in a great school district?
There’s still time to consult on the best financing available for that home in a desirable area. Call Redondo Mortgage Center now and see how our financing
can make it happen for you! Telephone 310-318-8999

For nearly a quarter of a century, Redondo Mortgage Center has been helping families avail of the best financing options for the home of their family’s dreams.

Best Financing Options for Your Family.

Available down payments are 0.5% (FHA), 3%, 3.5%, 5%, 10%, and 20%. Call for computation based on your desired purchase price and get qualified in minutes upon submission of required documents and a completed loan application. You may email or fax your two bank statements, two pay stubs, and identification.

*Detailed computation with interest rates and APR are customized according to the borrower’s specifications, credit and income.

Home Financing for Professionals Dedicated to Community Service

If you’re a firefighter, teacher, police officer, nurse or a professional whose work greatly revolves around providing service for our community, call us to learn more about our financing options especially for you.

310-318-8999 or visit www.redondomortgage.com

A Gift for Our Existing Clients

Dear RMC Clients,

Have you checked your Email for a chance to win a free gift? As an existing client of RMC, we are raffling off three pairs of tickets to the Wine & Beer Festival at the Trump National Golf Club.

Please check your Email and respond “Cheers RMC!” to enter.


Raffle details have been Emailed and mailed to qualified contestants. Only clients with their valid Email addresses in the RMC CRM Database are qualified to participate. If you have previously opted out of the Email notifications from RMC, you will not receive the Email for this nor for any promo from RMC. For further details please call Mara M. Gaborro at 310-318-8999.

4th of July greetings to all our friends!

RMC’s Pooyan Fard Joins Panel on 21st Century Literacy

Palos Verdes High School’s Capstone Program presented “Connecting the Dots, 21^st Century Literacy in a Global Society” on May 15, 2013. The forum held at the Peninsula Center Library Community Room also included panelists Shirley Parry, Greg Allen, Martin Griffin, Laura Henry, Somdeb Banerjee, and Steve Regur as keynote speaker.

Following are insights from Mike Chen, Redondo Mortgage Center intern 2013.

The event Connecting the Dots was an exciting learning opportunity. In gist, the keynote speaker and panelists discussed that the process of solving problems is not merely reliant on technology, instead, relies on leadership and creativity.  The panel tackled points on:

·       How can the education system focus on problem solving and leadership

·       How schools can help students graduate with college-ready and work-ready skills

·       How to help students obtain global competencies

Redondo Mortgage Center Loan Officer Pooyan Fard who is also a Capstone industry partner at Palos Verdes High School explained how the above points are the key in 21^st Century particularly in human capital market. He shared that students can obtain skills but what they really need is leadership and vision. If schools can provide an environment where students can obtain a problem-solving mindset, the rest can easily be learned. He ended with a valuable tip for the attendees: “It is not about the degree, rather, about what students really want to do and enjoy doing.”

Mike is a senior at California State, Long Beach majoring in Business Finance. He is also RMC’s guest blogger for the day.

Rates are Rising!

A spike in the market has forced rates to rise over the weekend. If you have been contemplating buying a home, now is the time to pursue it. The mortgage industry may have already seen the lowest of lows in years the past months and it has started to rebound over the last couple of weeks. It may take years again before the rates bottom out as we have seen early on this year.

The best thing to do is immediately consult your mortgage professionals if it is in your best interest to get a move on purchasing your first home or refinancing into the current rate before it's too late.

Call RMC today for a free consultation and you would be advised if it it is a good time for your situation to buy or refinance a home...otherwise, wait more years again.

It won't hurt to consult, particularly if you seek the advise of our finance officers. They will give you an honest and intelligent opinion rather than force you into a loan that is not favorable for you. Our integrity has allowed us nearly a quarter of a century in our field and attests to genuine concern for your home loan needs for the long term.

The phone call is free, you may want to take this opportunity now. 310-318-8999.

Make your Golden Years Count

If you're 62 years or older and have at least 35% equity in your home, you may want to consider the benefits of a reverse mortgage. Call Redondo Mortgage Center now to learn more about the program: 310-318-8999

Who qualifies for reverse mortgage?

Homeowners should be 62 years of age or older and have 35% or more equity on their homes

What type of property is eligible for reverse mortgage?

Single family or a 1-4 unit home, HUD-approved condominiums and townhomes that meet FHA requirements and are occupied by the borrower

How is it done?

It is fast, easy, and efficient. The only thing you need to do is to go through one session of consultation and have the appraisal done on your property

Why should I get a Reverse Mortgage?

To finance a home improvement, pay off your current mortgage, supplement your retirement income, or pay for healthcare expenses – you may want to consider a reverse mortgage. It’s a product that allows you to convert part of the equity in your home into cash without having to sell your home or pay additional monthly bills

Father Figures

The world never seemed too big to me as a child as long as I was held in my father’s arms. I always stood tall amidst a crowd. Never missed a sight to see as my father carried me on his shoulders. Even now that I am grown, my father’s wisdom makes any complexity seem easy. He may not know the answers to everything, but he always knew how to help me find them.

Fathers can pretty much figure anything out:

How to assemble a toy.

How to fix the sink.

How to fly a kite or ride a bike.

How to provide food on the table.

How to put a roof above his family’s heads.

He is a pillar of strength and the foundation for his children’s values.

What a person becomes is molded by one’s father’s virtues.

Redondo Mortgage Center joins all children in thanksgiving of all the fathers in our lives.

Happy Father’s Day!

-Mara Morales Gaborro

Star Trek: A Peg for Seeking Your Trusted Broker

My husband took me and our two girls to a Sunday movie date yesterday. "Star Trek Into Darkness" directed by J.J. Abrams was a seat-clutching, action-packed, awwwww-eliciting, visually-dynamic, non-snoozing movie our entire family enjoyed! It exceeded mine and my husband's expectations and we came out of the theater with that "feel-good" sensation. Definitely the film to see after a long day of chores.

While futuristic in setting—aliens included—the core values innate in each character, the moral lessons of every decision made, and the  basic plot of good-overcoming-evil, remains intact. Perhaps this is the most charming facet of the Star Trek franchise, making it relatable and relevant even to the current generation, our 7-year old daughter included.

Captain Kirk's usual quick-wit, humor, sensitivity, and spot-on gut feel almost always results in triumph. Mr. Spock's logic, impartiality, wisdom, and informed-decision making is a sounding board for everyone in the Enterprise, especially for Capt. Kirk. Scotty's engineering expertise is crucial and indispensable, even if he isn't on board.

The value that stood out the most, in my opinion, was the nearly tangible sense of trust, friendship, loyalty, and camaraderie—demonstrated more than once in many scenes. The entire crew shares an unspoken pledge of responsibility and accountability for one another, from Uhara, Sulu, Chekov to Dr. McKoy, even at the expense of their own lives.

While homebuying should not be at all action-packed nor seat-clutching as this movie, the professionals whom you engage to help you must posses the same qualities of the Star Trek characters: experts, reliable, genuinely concerned, and most of all trustworthy. Do your research. See how long the financial company has been in the business. Read about their reviews. Who are the people behind the company? Are they credible? Should you be faced with a decision dilemma, go with your gut-feel.

Homebuying should elicit the feeling of excitement not stress. With Redondo Mortgage Center, upon the conclusion of your transaction, you will leave with a "feel-good" sensation. And in my daughter's own words, "that was cool!". If this is the kind of homebuying process you are seeking, give RMC a call. We guarantee, its values remain intact from 24 years ago. It intends to keep it that way for generations to come.

Live long and prosper!

Telephone 310-318-8999
www.redondomortgage.com
Blogged by Mara M. Gaborro
Corporate Communications Head
Redondo Mortgage Center

First Time Homebuyer Guide

Everything you need to know about buying a home for the first time. Includes guide to terms and acronyms, qualifications, process, and what to expect when preparing to purchase your first home. Video features Pooyan Fard, Sr. Loan Officer for Redondo Mortgage Center, as resource person. Directed and Edited by Mara Morales Gaborro, Corporate Communications Head at RMC.

A salute to our heroes this Memorial Day!

A salute to our heroes this Memorial Day!

Have a safe weekend everyone!

from your friends at Redondo Mortgage Center

Dream Home Made More Accessible

As the real estate market begins to pick up and the prices of properties are steadily climbing, the image of a dream home in our minds become bleak. Maybe we have saved up enough X amount for a down payment but now, that money covers only half of the payment we intended it for.

The good news is, there are some programs that can qualify us for financing of up to $1,250,000 with as low as 11% down payment. So we can still purchase that dream home even though the price of the property has increased.

The following is a sample worksheet that features a computation on how this jumbo program applies:

$1,400,000

Purchase Price

$1,246,000

Loan Amount

$6,221 

Monthly Payment & Interest

11%  ($154,000)                    

            Down Payment

4.375%Rate 4.554%APR       

Qualification is based on income, credit, and a completed loan application. 

All rates subject to change without prior notice.

If you have any questions or just wish to avail of our free consultation, please call 310-318-8999 or visit www.redondomortgage.com

Integrity has allowed RMC to remain in the service of the Southern California community since 1989. Its commitment to excellent service is the main source of its repeat clients and referrals. RMC believes in making homeownership a possibility for all.

Why RMC is Your “Good” Broker

Ruth McClelland, COO and Head of the processing department for RMC recently read an article on What Makes a Good Mortgage Broker from a website called The Mortgage Professor. It gave tips and hints on how to know if your mortgage officer is qualified and keeps your best interest in mind.

Following are some of the points I find worth sharing:

·        “ Poor brokers constantly solicit, while good brokers enjoy referrals from previous customers and realtors”

·        “Good brokers are financial planners”

·        “Good brokers are good listeners. A good sign: Before your mortgage officer offers any opinions, he or she quizzes you about your financial status and plans”

·        “A good broker will not quote low-ball prices”

·        “Good brokers can communicate effectively with borrowers”

Why RMC falls under the “good mortgage broker”:

·        90% of RMC’s clients are repeat clients or referrals

·        Our loan officers are highly knowledgeable (with Bachelor’s and some, Master’s Degrees) and experienced. They will always present you with a proposal indicating the options best suited for your needs

·        None of RMC’s officer will quote you a price, rate, payment or interest without a full documentation of your income, assets, liabilities, credit score, etc.

·        RMC officers know that low pricing is not always accompanied by the appropriate program beneficial to a specific borrower. What RMC guarantees is a customized financial loan scenario that is to the advantage of its clients, long-term

·        The Mortgage Professor says “poor brokers frequently slip into trade jargon…and are insensitive to the client’s lack of comprehension” at RMC we explain details in conversational English. We have a corporate communications department that ensures only understandable and appropriate literature is circulated among clients and that all officers are able to translate these so-called jargons into layman’s terms

SOURCE: http://www.mtgprofessor.com/

Financing that's Right for You

Explore the various financing programs RMC offers. However unique your home financing needs may be, RMC will find just the right solution for you. Call us now for a free consultation at 310-318-8999 or visit www.redondomortgage.com

The RMC Promise

RMC is committed to working towards the best financial program most beneficial to you. Its officers will diligently customize a home financing plan based on indepth knowledge of available programs. RMC’s promise is to always keep its clients’ best interest at heart.

Mother's Day Greeting to All the Wonderful Moms!

The Hand I Hold

That hand that cradled me when I was small

The hand that reaches out each time I fall

The hand on my forehead when fevering

The hand on my shoulder encouraging

The hand that cheered in my victories

The hand that caught me in all defeats

The hand on my cheek that wiped a tear

The hand in my heart that calmed my fears

This is the hand that guided me

Throughout my lifelong journey

This is the hand I will not let go

“I’ll hold your hand mom, ‘til old you grow”

-MMGaborro

Our Story on Our Anniversary

Cinco de Mayo coincides with Redondo Mortgage Center’s anniversary.

RMC marks this milestone year by looking back on the ideals and principles that established the compnay. The RMC tradition of excellence and integrity is founded on one pioneer, Amir H. Amiri. Aided by some of the best management talents and dynamic agents in the South Bay, RMC has become among the most trusted mortgage companies in its service area, including a multitude of Hispanic clientele.

From a fledgling company in 1989, it has evolved into a respected and stable financing company in Redondo Beach—sought after for its professionalism and excellent customer service.

As broker and president, Amir’s extensive experience in the financial arena paved the way for RMC’s continued growth and success—not an overnight feat.  “I was renting a small office space in the same building where we currently hold office.” Amir recalls fondly. “I had to come in very early everyday so I can accomplish all the documents I had to type. Back then, computers were scarce and mistakes you make on the typewriter means you had to start over from the beginning!” Amir continues laughing.

Shortly after, Amir started having loan clients. Then loan closings. Then these clients referred their friends. Then these friends referred their families, and so on. Not only that, those primary clients of Amir kept coming back to him to refinance, to buy a new home, or upgrade to another. The experience of working with Amir “has been great!” written on a note from Amy Boylan of Redondo Beach. “I thank him for his and his staff’s help with the new house and all the other houses.”

Through the ups and downs of the market, Amir’s strategic thinking and prudence has always cushioned the company. RMC has always been fortunate to sustain its operations. “It is in these times that we become innovative and persevering. Moreso, this is the time when customers seek reliable companies whom they can count on. And this is when we rely on our integrity to carry us through.” Amir speaks of the steady flow of customers they service whether the industry is up or down.

“If there’s one thing that RMC capitalizes on, that would be credibility.” Shares Mara Gaborro, Corporate Communications Head and with RMC for nearly 10 years. “In all of our transactions, we have always been upfront and honest with our clients. We educate them and take time to explain how the process works and what the real situation is. We go beyond sales. We assist in rebuilding their credit, mapping out a financial plan for their future, and even keep in touch with them long after their first dealing with us.”

As Redondo Mortgage Center celebrates another year, it can only attribute its success to its clients who have been instrumental in sustaining the flow of its business. Their patronage and referrals are the reasons why Amir and the entire RMC team build their ideals on the values and principles of excellent customer service.

Catch the Wave to Homeownership While You Can!

Do not let the chance of owning a home slip away. While rates are steady and there are still properties left in the market, take a moment to see if you qualify for your first home, upgrade to a new one, or buy an investment property.

It may also be a good time to check your refinance options to lower your monthly mortgage or your rate. Call us now!

TGIF!

TGIF
Thank God I’m Financed (by RMC)
Happy Weekend Everyone!

Pre-Qualification Letters: Fact or Farce ?

Our COO came across an article published on Yahoo yesterday. It basically talked about how pre-qualification letters for buying homes are not reliable come time to purchase.

A pre-qualification letter, or prequal, is a written document stating an individual's financial capacity to purchase a property through a home loan, financing, or mortgage.

Typically, a direct lender or mortgage broker issues the prequal to the homebuyer for presentation to sellers in his or her effort to make an offer on a property.

The prequal letter includes the price of the property the buyer wants to purchase, alongside the loan-to-value (LTV) the lender is issuing. For instance, if the purchase price of a home is $500,000 the lender will indicate a 70% loan to value. Meaning the buyer has the capacity to obtain a loan of up to $350,000 to put towards the purchase of the house under a mortgage. Now, the 30% remainder may be in a form of a down payment the borrower himself is issuing or a second mortgage that he may obtain either from another lender or the same lender. A second loan will entail a separate prequal letter.

The article on Yahoo may basing its opinions on some prequal letters that may have not held true come time for the actual purchase transaction. But at Redondo Mortgage Center, we make sure that our prequals are solid. We only issue prequals upon:

1. A comprehensive loan application process 
2. Thorough review of documents borrowers need to submit (identification/taxes, credit authorization, etc.)
3. Verification of employment
4. Verification of assets: Bank statements/Retirement Fund/Other Collateral

The maximum LTV is based on different qualifications determined by several factors depending on the lender, bank or, other financial institution:

1. FICO score and other credit considerations such as  debt-to-income ratios, derogatory notations, etc.
2. Assets
3. Income
4. Liabilities
5. Job tenure

Here in the South Bay, realtors acknowledge the validity of an RMC prequal letter. Backed by nearly a quarter of a century of experience and a reputation of utmost integrity. 

If you are purchasing a home and want a good chance at purchasing your dream home, try Redondo MortgageCenter first. You may call 310-318-8999 or you may visit www.redondomortgage.com

Personal Tips in Preparing for an Appraisal

Yesterday, we had our home appraised as we are currently in the process of refinancing for a lower rate in the hopes of lowering our monthly mortgage payments.

I work Monday through Saturdays and the only convenient time for my husband and I to have an appraiser come over is on a Sunday. Luckily, the appraiser company assigned to us had professional resources who were flexible to accommodate our schedule on a weekend.

The appraiser came to our home exactly as scheduled and did the inspection, assessment, and photography in less than 30 minutes. The process was prompt, quick, and professional. I am quite certain that training and experience allotted for her to perform her evaluation in an organized manner. But as a homeowner, there are things that we had done to help make her routine extra easy.

The following are our personal preparations and are not professional opinions. However, we hope that it helps homeowners with their own appraisals:

1. Schedule a date and time convenient for you and your family. If your loan transaction is not time-sensitive, choose a day and time after you are able to organize and tidy the house. You do not have to take a day off nor stress over making the property overly presentable. Believe me, a party-look is not what the appraisers are looking at.
2. Neat and tidy version of your everyday. For a family of four, it is common to have everyday mess. You do not have to reorganize the entire house but it helps to ensure that:
• Dirty laundry is out of sight
• No dirty dishes on the sink, kitchen tops, and tables
• Toilet seats are down
• Mail and paperwork are neatly stacked
3. Clear the path. I am a mom of two little girls who leave a trail of toys wherever they walk in the house. Since my husband regularly vacuums our floors (safety measures for kids who pick-up and put everything in their mouths), it is relatively kept well. We just had to make sure that the hallways, openings, doors, and paths where the appraiser is to walk on, is clear and free of toys and other obstructions. This allots for a smooth and safe walk-through.
4. Turn on the lights and lift the blinds/curtains. Our appraiser did not have a professional camera, instead a point-and-shoot digi-cam. Lighting, both natural and built-in, help the lenses pick up as much room detail. Plus it saved us time having to turn on lights and draw the blinds in each and every room.
5. Smoke detectors properly installed. Make sure your carbon monoxide and smoke detectors are properly installed, has working batteries, and visible where they need to be. Appraisers will want to take photos of them.
6. Accessibility to heating and air conditioning systems. If your home has its own water heating and/or air conditioning system, the appraiser would like to see them. Clear its doors or contraptions of any obstruction so it is easily seen and photographed.
7. Get out of the way. Let your appraiser do her or his job. A brief, pleasant greeting is appreciated. But do not chit-chat away! Do not get offended if the appraisers are not chummy and remain professional. Their opinions are guided by a set of ethics under their profession.

So, this is how our Sunday went. It ate up less than half an hour of our time giving us a lot of room to enjoy the rest of our Sunday. Here's to wishing the value's what we hope them to be.

Our home minus the toys, mail, and laundry. But observe the box of donuts on the kitchen counter...that one, we can't do without :)

Blogged by: Aaron and Mara Gaborro

Your Dream Home Materializes Through RMC

You have worked hard long enough. Now reap the rewards of finally buying your dream home.

Redondo Mortgage Center is here for your financing needs, just as it has always been in nearly a quarter of a century.

Repeat clients and referrals attest to the excellent service we provide that is built on integrity, trust, and a commitment to helping families own homes.

When you are ready for your dream home, consult with our experienced loan officers first. We are not a bank nor a huge enterprise. You are not just a number to us. We are your neighbor and a partner in community building.

310-318-8999
www.redondomortgage.com

Steady Rates Conducive for Refinance

As mortgage rates remain stable at all-time lows, it is a conducive scenario for homeowners to look into refinancing to lower their monthly mortgage payments.

Considering property values in Los Angeles, California are consistently improving, it may be beneficial to refinance given that appreciation of your home may complement appraisal requirements.

There are various possibilities when refinancing. Here are some options you may want to look at:

1. Refinance to Lower Rate: If you wish to just lower your monthly mortgage payment , this may be the best option for you. If you refinance, for instance, from a 5% rate (at 3.789% APR) for your $600,000 home to a 3.625% rate, you will save $484.62 every month on your mortgage payments.
2. Refinance to Shorten Term: If you have the extra income and think you can pay off your loan and own your home earlier than scheduled, then you may want to refinance to a lower rate and shorter term. This may be a good idea when you anticipate retirement anytime in the next 10-15 years. Redondo Mortgage Center has various refinance programs that can help you get situated with this option.
3. Refinance to Cash Out: If your property has equity, and you need money for home improvements and repair, education, and other milestone events, then you may qualify to refinance into a lower rate then, at the same time, do a cash out transaction without necessarily obtaining a second loan.

If your situation requires a different type of refinance other than the above-mentioned, please do not hesitate to call our office for a free consultation. We have various programs that suit numerous scenarios.

You may call 310-318-8999 or visit www.redondomortgage.com for more details.