Mortgage

Ricky Walters is a 15-year veteran of the mortgage industry and president of Landmark Lending, a Diamond Certified company. He can be reached at (408) 692-5984 or by email.

The Unknown Affordability of Homeownership

Posted on July 11, 2017 by admin

LIVERMORE — If you’re a renter in the Bay Area, there’s a good chance you’re paying thousands of dollars each month for housing. Like many renters, you may have considered the option of buying a home, only to conclude that you can’t afford it. However, this conclusion may be merely an ill-founded assumption. In reality, the cost of homeownership is often equivalent to that of renting—at least, after you do the math.

Month-to-month, a mortgage payment will typically exceed the cost of rent, but most renters don’t realize how much money they stand to save on their taxes by purchasing a house. Not only do California homeowners benefit from a hefty mortgage loan interest deduction on their income taxes, Read more

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The Complex Truth about Interest Rates

Posted on July 11, 2017 by admin

PETALUMA — In the past, if you wanted to know the current interest rate for a home loan, you could simply ask a mortgage professional and get a direct answer. Today, however, interest rates aren’t as simple as they once were. For one thing, they fluctuate often—sometimes on a daily basis. This is because interest rates are based on what the bond market is doing, and since bonds are traded just like stocks, the rates are consequently subject to continuous change.

In addition to these large-scale fluctuations, there are more specific factors that go into determining the interest rate that you, as an individual, will pay. First, what kind of transaction are you doing? Read more

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Video: A Good Time to Reassess Your Mortgage

Posted on July 11, 2017 by admin

PETALUMA — Host, Sarah Rutan: If you’ve had a recent life change such as retirement or the birth of a child, it’s a good time to reassess your mortgage situation. Today we’re in Petaluma with Diamond Certified Expert Contributor Ken McCoy of Petaluma Home Loans to learn more.

Diamond Certified Expert Contributor, Ken McCoy: The tip for today is about life changes. It’s always a good idea to review your mortgage scenario when you have life changes. And those life changes are things such as a child moving in or out of your house, a new addition to the house or a new baby, going into retirement. All of those things can have an effect on what your housing expense is, Read more

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