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Rob McCarthy
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Is Your Bank Driving You Crazy? Come to 101 Loan, Where We Make Home Financing Easy!
Is Your Bank Driving You Crazy? Come to 101 Loan, Where We Make Home Financing Easy!

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10 Best Services...

Real Estate Educational Seminars at Your Convenience at Your Company…

If you would like to attend an educational seminar on any of the following topics at your company, please put me in touch with your HR director so we can schedule.

Topics Include:

• The Path to Successful Home Ownership
• Creating Passive Income Through Investment Property
• Reducing Risk with a Balanced Portfolio
• Is Your Estate Protected? (Covers Estate and Tax Planning)

If you have any questions on any of the above, please contact me. Thanks.

All the Best,

Rob McCarthy
Senior Mortgage Advisor
408-377-4123 o 408-608-1921 f
101 Loan - 1475 S. Bascom Ave, Suite 112, Campbell, CA 95008
CA BRE #01165697 NMLS #121019

https://www.yelp.com/biz/101-loan-mortgage-campbell


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See this week’s report below and 2 unique loan products most banks or lenders don’t offer…

• Purchase Financing at 10% Down up to $1,888,000.00 in Price (Call or email me for more info)

• Reverse Mortgage Financing for Seniors/Retirees that want access to the following with No Mortgage Payments:

• Increase of Monthly Income Beyond Ones Social Security or Pension
• More Cash in the Bank to Cover Life’s Expenditures
• Access to an Equity Line for a Rainy Day and Peace of Mind.
• All…with No Payments

For more info, please contact me.

Have a great week!

Best Regards,

Rob McCarthy
Senior Mortgage Advisor
www.101Loan.com
408-377-4123 o 408-608-1921 f
101 Loan - 1475 S. Bascom Ave, Suite 112, Campbell, CA 95008
CA BRE #01165697 NMLS #121019

“If You Think Hiring a Professional is Expensive, Wait Till you Hire an Amateur” - Red Adair

Note: Interest rates and loan programs quoted are subject to change without notice or until locked and approved by lender.







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Is it Time to Buy Now or Later? (Part 2)

by Rob McCarthy – Senior Mortgage Advisor at 101 Loan - Specialists in Real Estate Financing with over 129 “Five Star" YELP Reviews

This question has plagued home buyers and sellers for many decades and continues to be a hot topic in a strong housing market like the Bay Area. While my “crystal ball” is not reliable, two past stories from my 27 years in the business offer strong reminders that today's known market is often better than anticipating what "might" happen in later.

Story 1: Fear of a Housing Bubble Cost a Couple over $200,000.00

Back in 1996, I helped a buyer, new to the area, get pre-approved. However, after a successful pre-approval, they froze in fear as they contemplated:
• What happens if the market has a correction?
• What if the market implodes and they lose all of their equity?

The buyers continued looking for property, but they were not willing to step up and make strong offers looking for that below market deal that never came. Finally, in 1998 they decided enough was enough and finally made an aggressive offer that eventually closed. Unfortunately in that time, prices in their preferred neighborhood rose from $600k to $800k and rates also increased. Their choice cost over $200k+ (increase in value and the rent they paid that could have gone to paying down a mortgage). Today that neighborhood’s median price is over $2.1m.

What Did They Learn?

While a downward turn might happen, today's market conditions and signals are not enough to put your life on hold and "hope" for a correction. A house is more than an asset ... it's a place to live your life, raise a family and enjoy your hard earned compensation.


Story 2: Is Losing the Home of your Dreams worth $1.66 extra per day?
About a year ago, we had a couple looking for a townhouse in the tight market of Cupertino. They finally found the "perfect" property listed for $1,050,000, slightly more than they wanted to spend. While they were pre-approved for the full list price, they decided to "save" $10,000 and make a pre-emptive offer at $1,040,000 when they were told by their agent that the seller would accept the list price. The seller quickly rejected their offer and two days later accepted an offer ($50k over asking) and their "perfect" property closed in 4 weeks to another family. Since then the price in this neighborhood has increased by over 10%.

What Did They Learn?

While we all want a "deal", this couple's choice cost the property they really wanted. When thinking about your monthly mortgage payment, a good rule of thumb is for every $10,000 you borrow, it will cost approximately $50/month or $1.66 per day. Yes…$1.66 extra per day is what they would have spent to acquire this property!

Bottom-Line...

Housing is one of the best investments your family will ever make. Business cycles ebb (drop) and flow (increase). Our Bay Area Housing market is very tight as we are in a growth cycle where jobs are strong and the stock market is even stronger, at record highs. A growth market keeps housing inventory AND prices high. Even if the business cycle slows slightly, housing inventory will loosen before prices. Thus, a correction of prices will be one of the last effects we will experience.

Once you gain a pre-approval, go forth and make a strong offer ... you will be enjoying your home, making memories and building wealth/saving on taxes.
If you would like to get pre-approved or know someone that is planning on buying, please contact me. Thanks.

BTW…See the video we shot yesterday on home financing at https://www.facebook.com/john.v.pinto/videos/10154751250280547/.

Best Regards,

Rob McCarthy
Senior Mortgage Advisor
www.101Loan.com
408-377-4123 o 408-608-1921 f
101 Loan - 1475 S. Bascom Ave, Suite 112, Campbell, CA 95008
CA BRE #01165697 NMLS #121019

“If You Think Hiring a Professional is Expensive, Wait Till you Hire an Amateur” - Red Adair


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7 Top Things We Do...

Our Competitive Edge…What We Do that is Different Compared with other Lenders

1. We always get the client completely pre-approved by the bank before they make offers so they won’t need a loan contingency.
2. We strategize with you, your buyer and seller’s agent on offers to close in the quickest amount of time.
3. We typically can close purchases in 21 to 25 days depending on the loan program they choose. Faster is better in the eyes of the seller.
4. We provide a timeline and provide to all once client is locked and loan is submitted detailing each step of the transaction to ensure a smooth transaction.
5. We ensure the client knows exactly what the loan will cost them once in contract and then update them again on the amount needed to close, prior to them signing.
6. We setup the signoff and then follow the file to ensure it closes on time as scheduled.
7. We continue to stay in touch with client long after the close and usually receive referrals as a result which in turn we can refer back to the agent.

If any of the above are of interest to you, please contact me.

Best Regards,

Rob McCarthy
Senior Mortgage Advisor
www.101Loan.com
408-377-4123 o 408-608-1921 f
101 Loan - 1475 S. Bascom Ave, Suite 112, Campbell, CA 95008
CA BRE #01165697 NMLS #121019

“If You Think Hiring a Professional is Expensive, Wait Till you Hire an Amateur” - Red Adair

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Great loan program!
Best Jumbo Program at 10% Down…

We can now go up to a $1.88m in price at 10% down with no MI.

So… $188k down gets the client into a $1.88m property with rates on the 1st in the mid 3’s.

For more info on this, please contact me.

Best Regards,

Rob McCarthy
Senior Mortgage Advisor
www.101Loan.com
408-377-4123 o 408-608-1921 f
101 Loan - 1475 S. Bascom Ave, Suite 112, Campbell, CA 95008
CA BRE #01165697 NMLS #121019

“If You Think Hiring a Professional is Expensive, Wait Till you Hire an Amateur” - Red Adair

Note: Interest rates and loan programs quoted are subject to change without notice or until locked and approved by lender.


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Happy Monday,

"Just simple truth and harmony." Glen Campbell. Federal Reserve Chair Janet Yellen had one simple truth that was like music to Stock and Bond markets: "The simple message is the economy is doing well."

When the Fed expectedly raised its benchmark Federal Funds Rate 0.25 percent at its March 14-15 meeting, Stocks and Mortgage Bonds both improved following the news.

The Fed's tame read on inflation and its decision to maintain its balance sheet of existing Mortgage Bonds helped Bonds rally. Meanwhile, Stocks responded favorably to the news that the Fed is planning two additional hikes this year, eliminating some uncertainty.

The Fed Funds Rate, with a new target rate range between 0.75 to 1.0 percent, is the rate at which banks lend money to each other overnight and is not directly tied to consumer products like purchase or refinance home loans. Instead, home loan rates are tied to Mortgage Bond market performance. Home loan rates can move lower when Mortgage Bonds improve and vice versa.

There was good news from the housing sector, as the Commerce Department reported that Housing Starts hit a four-month high, rising 3 percent from January to February to an annual rate of 1.288 million. Housing Starts measure when excavation begins on a new home. Starts on single-family homes rose to a near 10-year high. From February 2016 to February 2017, Housing Starts were up 6.2 percent. The increase is a welcome sign for those in the market for a home as limited inventory has driven home prices up in many areas, discouraging some buyers. Another welcome sign: The National Association of Home Builders reported that its Housing Market Index, a measure of home builder sentiment, jumped six points to the highest level in 12 years!

In economic news, wholesale inflation came in hotter than expected in February, with the year-over-year Producer Price Index reading reaching 2.2 percent, the highest since March 2012. The Consumer Price Index was in line with expectations, falling in February from January to 0.1 percent due in part to lower gasoline prices. Retail Sales also met expectations, though they did decline from January.

For those in the market for a new home or a refinance, home loan rates remain attractive.

If you or someone you know has any questions about current home loan rates or products, please don't hesitate to contact me.

Best Regards,

Rob McCarthy
Senior Mortgage Advisor
www.101Loan.com
408-377-4123 o 408-608-1921 f
101 Loan - 1475 S. Bascom Ave, Suite 112, Campbell, CA 95008
CA BRE #01165697 NMLS #121019

“If You Think Hiring a Professional is Expensive, Wait Till you Hire an Amateur” - Red Adair
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WIth Over 128 "5 Star" reviews on Yelp for helping clients obtain the best home financing, why would anyone go somewhere else for financing?

Any questions, please contact me. Thanks.

Best Regards,

Rob McCarthy
Senior Mortgage Advisor
www.101Loan.com
408-377-4123 o 650-465-8957 c
101 Loan - 1475 S. Bascom Ave, Suite 112, Campbell, CA 95008 CA BRE #01165697 NMLS #121019 “If You Think Hiring a Professional is Expensive, Wait Till you Hire an Amateur” - Red Adair

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Crazzzy Week!

The Dow surged 300 basis points after hearing President Trump is going to deregulate banks and possibly rid ourselves of the infamous Dodd Frank Act that has cost consumers when obtain financing or investments a great deal more in expense. In addition, the Feds are talking about 2 to 3 more moves on higher rates this year as economic reports keep showing positive growth.

For this week’s report, please see below. If you are looking to purchase, refinance, obtain construction financing or are interested in Reverse Mortgages, please contact me to discuss.

Have a Great Weekend!

Best Regards,

Rob McCarthy
Senior Mortgage Advisor
www.101Loan.com
408-377-4123 o 408-608-1921 f
101 Loan - 1475 S. Bascom Ave, Suite 112, Campbell, CA 95008
CA BRE #01165697 NMLS #121019

“If You Think Hiring a Professional is Expensive, Wait Till you Hire an Amateur” - Red Adair


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Educational Seminars at Your Convenience at Your Company…

If you would like to attend an educational seminar on any of the following topics at your company, please put me in touch with your HR director so we can schedule.

Topics Include:

• The Path to Successful Home Ownership
• Creating Passive Income Through Investment Property
• Reducing Risk with a Balanced Portfolio
• Is Your Estate Protected? Covers Estate & Tax Planning
If you have any questions on any of the above, please contact me. Thanks.

All the Best,

Rob McCarthy
Senior Mortgage Advisor
www.101Loan.com
408-377-4123 o 408-608-1921 f
101 Loan - 1475 S. Bascom Ave, Suite 112, Campbell, CA
CA BRE #01165697 NMLS #121019

“If You Think Hiring a Professional is Expensive, Wait Till you Hire an Amateur” - Red Adair

Products/Services Provided:

• Over 25 Years of Experience in Residential and Commercial Financing with Access to over 45 Lenders resulting in the Lowest Rates, Lowest Fees and Timely Service.
• Over 125 “5 Star Reviews” in Yelp, Facebook, Google and Linkedin.
• Expert in Reverse Mortgages and Jumbo Reverse Mortgages
• Access to Land, Construction and Commercial Financing.
• Access to All First Time Buyer Programs including FHA, VA and City Programs.





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Top 4 Things to Know about Reverse Mortgages...

We offer Reverse Mortgage financing to clients looking to pull equity out of their property or eliminate mortgage payments all together. Last month, the Wall Street Journal, published an article on the benefits of a reverse mortgages and cited, “a viable source of money, who want to remain in their homes”. See excerpt below…

Tapping Your Home Equity

Many retirees seek to free up home equity by downsizing or relocating to a cheaper area. But if the savings don’t amount to much or you want to stay put, consider a reverse mortgage. While in the past reverse mortgages had garnered a bad reputation for getting some homeowners into trouble, a growing body of research says that if used properly they can be good for filling in retirement income gaps. Reverse mortgages allow people ages 62 and older to convert their home equity into cash. But instead of the homeowner writing a check to the bank each month, the bank pays the homeowner, who can elect to receive a lump sum, line of credit or monthly payments. The loan is due, with interest, when the borrower dies, moves or sells the house. Fees on these loans have declined in recent years, transforming them from a product with a bad reputation to “a viable source” of money for people who want to remain in their homes, says Paul Auslander, director of financial planning at ProVise Management Group LLC in Clearwater, Fla. The proceeds can be used to pay down a mortgage. Those who need income to supplement their retirement savings may want to elect a monthly payment for life, says Mr. Pfau.

Ref: https://www.wsj.com/articles/if-youre-behind-on-retirement-savings-heres-how-to-catch-up-1484908208

Below are the 4 main reasons, clients choose reverse mortgages over traditional financing or selling their homes:

1) They Keep Their Existing Home
2) They Eliminate Monthly Mortgage Payments
3) They Can Pull Cash Out
4) They Can Create Monthly Income from Equity in Property

If you have any friends or clients that are retired and looking into a reverse mortgage to refinance or purchase, please contact me as I would be more than happy to explain the program and what options they have available.

Best Regards,

Rob McCarthy
Senior Mortgage Advisor
www.101Loan.com
408-377-4123 o 408-608-1921 f
101 Loan - 1475 S. Bascom Ave, Suite 112, Campbell, CA 95008
CA BRE #01165697 NMLS #121019

“If You Think Hiring a Professional is Expensive, Wait Till you Hire an Amateur” - Red Adair

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