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LAKE TAHOE 6.8-33.6% Home Appreciation Forecast El Dorado county CALIFORNIA - Importance of a Pre-approval letter - James Graff 732-500-MUTE Advisors Mortgage Group, L.L.C. NMLS # 33041

HOME LOANS James Graff 732-500-MUTE
Advisors Mortgage Group, L.L.C. NMLS#33041
In 34 states of the United States of America

Due to a lack of inventory, it may take longer to find the right home for you. But your efforts will likely be rewarded.

Recently, the number of new construction homes were not keeping up with increasing demand, especially from those under 35 years old. And the pandemic has made the shortage of housing even tighter.

The housing market is hot and forecasted to show strong gains into the future. Our local market, Lake Tahoe, El Dorado county, California, is anticipating appreciation of 6.8% over the next 12 months and 33.6% over the next 5 years.

So while it might take a little more persistence to find your next home, stay with it and don’t get discouraged because the financial opportunity is significant.

Many sellers won’t let you into their home without a pre-approval letter. So contact me to have that in hand to increase your chances of reaching the home of your dreams.


Terms and condition apply.

For educational, informational, entertainment purposes only. Not intended to give legal, investment, financial or medical advice.

There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor.

All applicants subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application never represents an approval for financing or interest rate guarantee. Various restrictions may apply, please contact us for current rates and for more information.

All information in this publication is for educational, informational (and, perhaps, even just entertainment) purposes only, and in no way is any of the content contained herein to be construed as financial, investment, legal, medical advice or instruction. Advisors Mortgage Group, L.L.C. does not guarantee the quality, accuracy, completeness or timelines of the particular information in this publication (video, video title and/or it's description). While we made efforts to verify the information provided, the information may have mistakes or errors.

Some information in this publication may have been provided by third parties and has not necessarily been verified. Advisors Mortgage Group, L.L.C.. its affiliates and subsidiaries do not assume any liability for the ideas, advice, information contained herein, be it direct, indirect, consequential, special, unintentional or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.


Advisors Mortgage Group, LLC Company NMLS # 33041

Arizona

AZ Mortgage Banker License #BK-0946372

California
Advisors Mortgage Group, LLC is licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, license no. 413-0846

Colorado
Colorado Mortgage Company Registration

Connecticut
First Mortgage Lender/Broker no. 20710

Delaware
Licensed Lender no. 010560

District of Columbia
District of Columbia Mortgage Lender License- License Number MLB33041

Florida
Mortgage Lender License no. CL0701234

Kansas
Kansas Licensed Mortgage Company License #MC.0025622

Kentucky
Kentucky Mortgage Company License- License Number MC401849

Georgia
License no. 34877

Illinois
Illinois Residential Mortgage License no. MB.6761400

Indiana
Indiana-DFI Mortgage Lending License no. 41224

Maine
Supervised Licensed Lender

Maryland
Mortgage Lender License no. 06-20490

Massachusetts
Mortgage Broker and Mortgage Lender no. MC33041
Michigan
Michigan 1st Mortgage Broker/Lender/Servicer Registrant- License Number FR0021538

Minnesota
Minnesota Residential Mortgage Originator License

New Hampshire
Licensed by the New Hampshire Banking Department. Banker no. 15381-MB

New Jersey
Licensed by the NJ Department of Banking and Insurance. Licensed Lender no. L055439

New York
Licensed Mortgage Banker – NYS Banking Department. Banker no. B500959.

North Carolina
Mortgage Lender License no. L-143414

Ohio
Letter of Exemption issued by the Ohio Department of Commerce Division of Financial Institutions. MBMB. 850091.000

Oregon
Mortgage Lender License no. ML-5281

Pennsylvania
Licensed by the Pennsylvania Department of Banking no. 24720

Rhode Island
Rhode Island Licensed Lender. License no. 20122819LL

South Carolina
South Carolina BFI-Mortgage Lender/Servicer License

South Dakota
License Number ML 05230

Vermont
Vermont Lender Licensed no. 6446

Virginia

Washington
Licensed by The State of Washington Department of Financial Institutions - Consumer Loan License Number CL-33041

West Virginia
West Virginia Mortgage Lender License

5 MYTHS & REALITIES of REVERSE MORTGAGES James Graff 732-500-MUTE Adviso...

5 MYTHS & REALITIES of REVERSE MORTGAGES HECM Home Equity Conversion Mortgage FHA James Graff

James Graff 732 500 MUTE Advisors Mortgage Group, L.L.C. NMLS#33041 As with many financial products, reverse mortgage loans can be complicated and there are often misconceptions about how the product works. Do you know the myths vs. realities?

MYTH No. 1: The lender owns the home.

You will retain the title and ownership during the life of the loan, and you can sell your home at any time. The loan will not become due as long as you continue to meet loan obligations such as living in the home, maintaining the home according to the Federal Housing Administration (FHA) requirements, and paying property taxes and homeowners insurance.

MYTH No. 2: The Home must be free and clear of any existing mortgages.

Actually, many borrowers use the reverse mortgage loan to pay off an existing mortgage and eliminate monthly mortgage payments (same loan obligations mentioned above such as living in the home, maintaining the home according to the Federal Housing Administration (FHA) requirements, and paying property taxes and homeowners insurance.)

MYTH No.3 Once loan proceeds are received, you pay taxes on them.

Reverse mortgage loan proceeds are tax-free as it is not considered income. However, is is recommended that you consult your financial advisor and appropriate government agencies for any effect on taxes or government benefits.

MYTH No. 4: The borrower is restricted on how to use the loan proceeds.

Once any existing mortgage or lien has been paid off, the net loan proceeds from your HECM loan can be sued for any reason. Many borrowers use it to supplement their retirement income, defer receiving Social Security benefits, pay off debt, pay for medical expenses, remodel their home, or help their adult children. You worked hard for this asset and prudence, along with budgeting, should be the proper approach to enjoying proceeds received from your HECM (reverse mortgage) loan.

MYTH No. 5: Only poor people need reverse mortgages.

The perception of the reverse mortgage as an assist for the "poor" borrower is changing - many affluent senior borrowers with multi-million dollar homes and healthy retirement assets are using reverse mortgage loans as part of their financial and estate planning, and are working closely in conjunction with financial professionals and estate attorneys to enhance the overall quality and enjoyment of life.





HOME LOANS James Graff 732-500-MUTE
Advisors Mortgage Group, L.L.C. NMLS#33041
2899 Highway 35 North Hazlet N.J. 07730
In 34 states of The United States of America

Cash out refinance, debt consolidation, renovation loan, reverse mortgage, pre-qualify, pre-approval letter, FHA VA USDA HELOC HECM Fannie Mae Freddie Mac...

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HOME LOANS James Graff 732-500-MUTE
Advisors Mortgage Group, L.L.C. NMLS#33041
2899 Highway 35 North Hazlet N.J. 07730
In 34 states of The United States of America

Cash out refinance, debt consolidation, renovation loan, reverse mortgage, pre-qualify, pre-approval letter, FHA VA USDA HELOC HECM Fannie Mae Freddie Mac...

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New Tax on Mortgage Refinances from the FHFA James Graff 732 500 MUTE Advisors Mortgage Group, L.L.C. NMLS#33041

I’ve got some good news and I’ve got some bad news.  Here’s the bad news first…

The Federal Housing Finance Agency just announced a surprise fee on all new refinance transactions that are sold to Fannie Mae and Freddie Mac, which make up approximately two thirds of all loans.  The fee will be assessed, regardless of the bank or mortgage company you choose to work with.  This will result in a small increase to the interest rate that would have normally been available.  

Now for some good news… 

Interest Rates are currently at extraordinarily low levels.  And refinancing may still be a very smart financial move, which can save you money every month or reduce the amount of years remaining on your mortgage.  You may also be able to consolidate your debts to save even more money.  

Let’s take a look at your unique situation to see if you can benefit from this opportunity.  Call me, James Graff, your mortgage professional.

rlando FL $64k cost of waiting 4.7-22.1% Appreciation rate forecast median home $292K 732-500-MUTE Down Payment MYTH Advisors Mortgage Group, L.L.C. NMLS#33041

Down Payment Myth HOME LOANS James Graff 732-500-MUTE Advisors Mortgage Group, L.L.C. NMLS#33041 In 34 of The United States of America Real Estate fact vs Fiction It’s amazing to me, but, right here in Orlando, Orange County Florida, there are over 164,282 residents who are currently renting but can afford to purchase a home. They are qualified to buy a home, so why wouldn’t they? Some people think that the housing market isn’t stable, but home prices for your area in Orange County are forecasted to appreciate by 4.7% over the next year, and 22.1% over the next 5 years. You know what that means in dollars and cents? If you purchased a home at the median price of $292,000, you would gain $64,000. This is a very strong market; however, here is the biggest misconception: in a national survey, the number one reason why people are still renting even though they are qualified to purchase a home is because they think they need 20% down. It’s hard to believe that people still think they need 20% down. That couldn’t be further from the truth! You can purchase a home with as little as 5%, or even 3% down, based upon the programs that are available. Contact me – I’ll show you how you can create wealth for yourself through real estate. With housing inventory extremely tight, many homes for sale will have multiple offers. You may wonder if you should put an offer on the home that is above asking price in order to win the contract. The forecasted appreciation for Orange County is expected to be 4.7% over the next year and 22.1% over the next 5-years. This may help you evaluate the amount, if any, that you might be willing to offer above asking price. If you decide to delay your purchase, the market will not remain idle and you may miss out on appreciation gains. And many people don’t consider the additional benefit of amortization that would have occurred while you’re waiting. Contact me to learn how you can build wealth through homeownership. Cash out refinance, debt consolidation, renovation loan, reverse mortgage, pre-qualify, pre-approval letter, FHA VA USDA HELOC HECM Fannie Mae Freddie Mac...

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