Michael Campos- NMLS 445764 DRE 01296938

One of the side effects of the Coronavirus pandemic has been the large number of young adults who have moved back to their family homes. In fact, the numbers of 18- to 29-year-olds living with their parents has become a majority since U.S. coronavirus cases began spreading early this year, surpassing the previous peak during the Great Depression era. In July, 52% of young adults resided with one or both of their parents, up from 47% in February, according to a new Pew Researc...h Center analysis of monthly Census Bureau data. Ways to Assist your Adult Children to Purchase a Home. As long as you both have good credit, there are many ways to help your children purchase their first home. Fannie Mae allows a parent to purchase a home, as owner-occupied, for a handicapped or disabled adult child if they are unable to work or do not have sufficient income to qualify. The same is allowed for children to provide housing for their parents who are unable to work or do not have sufficient income to qualify. For Fannie Mae and FHA loans, parents are able to co-sign and/or provide the down payment and closing costs for the child's home. With just 5% down you can qualify on behalf of your child as long as you both have good credit. For example, a home with a $700,000 sales price would require $35,000 down and $14,000 for closing costs and impounds. For Jumbo loans the maximum is 80% loan to value, your children must qualify on their own but parents are able to gift them the down payment and closing costs. Co-own the house with your child. Your contribution would get you equity in the home. Since you are on the loan and title, you can get your down payment back if the home sells or your child refinances.

Respect to those we lost Respect to those who saved Respect to those who still suffer #neverforget

My guy Michael Strong pulled these out of the closet of us at preschool! I see where Alex got his curls from. #tbt who else went to First Presbyterian?

So which would you like to hear first, the good news or the bad news? Well, for most it’s an easy choice, the bad news comes out on top. Studies have shown that people are more attracted to negative news than positive ones, and no one does a better job of this than the media. Even in the midst of one of the most active real estate markets we have seen in years, the headlines have focused on the wave of foreclosure that is coming. It is important that you are armed with the ...facts, not the hype that drives headlines because the truth is that we do not anticipate a wave of foreclosures across our Southern California market and this is why: 1 While mortgage forbearance has been extended from three months to one year, which is what many fear could lead to a mass foreclosure situation, the fact is that we are not seeing the extensions play out in our Southern California markets, especially in the coastal and higher-end markets. Forbearance extensions are focused on the lower end of the market across the state and county. 2 The number of homebuyers in San Diego County, Orange County, and the Coachella Valley far surpasses the number of properties for sale, at the same time new home construction is far below demand. 3 There is no indication that demand will diminish with interest rates from 2.25% to 3.5%. Unless we see the economy strongly improving, we will continue to see low interest rates. So for the good news - homebuyers should not bank on waiting for prices to drop because of the headlines predicting foreclosures - the opportune time to purchase is NOW #mortgagemike #sandiegofunding #sdfunding #preparetobemoved #realestate #realestateservices #mortgage #mortgagelender #homebuyer #refinance #sandiego #northcountySD #downtownSD #eastcounty #coastalliving #motivation #inspiration #buyahome #mtgmikesd

#tbt We beat the heat this past weekend and while we waited for our food we swapped shades #camposclan

Recently, Fannie Mae updated its guidelines on properties with solar panels. Under the updated guidelines, a property with financed solar panels cannot contribute to the appraised value of the property. If the solar panels are leased, they cannot be given value as part of the appraisal. If the solar panels are purchased, they must be owned free and clear and cannot be encumbered, in order to be given value as part of the appraisal.... As a lender, we are responsible for ensuring the appraiser has accurate information about the ownership structure of the solar panels and that the appraisal appropriately addresses any impact on the property’s value. As a reminder, any HERO or PACE loans need to be paid in full before the property is eligible for financing. We are here to keep you updated on the latest financing guidelines to ensure you and clients are supported with everything you need for success! Please contact me if there is anything I can do to help you! #mortgagemike #sandiegofunding #sdfunding #preparetobemoved #realestate #realestateservices #mortgage #mortgagelender #homebuyer #refinance #sandiego #northcountySD #downtownSD #eastcounty #coastalliving #motivation #inspiration #buyahome #mtgmikesd

You don’t live in the price you live in the payment Interest rates dropped well below 3% this week - the first time in history they have been this low - creating a huge opportunity for homebuyers. The low rates are allowing buyers to purchase higher-priced homes, especially in markets like ours with shortages of homes for sale.... A recent article in National Mortgage News cited that purchasing power rose 10% year-over-year despite 97 straight months of annual housing price increases. With interest rates hitting record lows, buyers were able to afford $32,000 "more house" as of July 23 than they could the year before with the same monthly payment. We are in a truly unique market that offers incredible opportunities for homebuyers who understand the benefits these historic low rates afford them when it comes to purchasing power. At the same time, home price appreciation is steady due to strength in demand coupled with limited inventory, resulting in huge advantages for home sellers. According to Frank Martell, president and CEO of CoreLogic, "As we move forward, we expect these price increases to moderate over the next twelve months. Given the economic outlook, housing remains a bright spot for the foreseeable future." While many of the larger banks are tightening up the number of loans they are funding, San Diego Funding is closing more loans than ever before. Helping your clients take advantage of today’s market is our top priority. #mortgagemike #sandiegofunding #sdfunding #preparetobemoved #realestate #realestateservices #mortgage #mortgagelender #homebuyer #refinance #sandiego #northcountySD #downtownSD #eastcounty #coastalliving #motivation #inspiration #buyahome #mtgmikesd

A little R&R last weekend included some quality family time on the road! What a beautiful area Now back to the grind. Work hard play hard

Mortgage rates are near multi-decade lows, but those favorable rates are becoming less accessible to borrowers with low to average credit scores due to the banks tightening standards in response to the Covid-19 health crisis. For buyers to qualify for the lower rates that will afford them the ability to purchase, it’s more important than ever before to have a strong credit score. Five factors make up the FICO score calculation:... Payment history (35 percent). Utilization (30 percent) - Utilization is the amount of credit used divided by the amount available, and lower is better. Length of credit history (15 percent) - A longer credit history will raise your score. A mix of credit (10 percent) - Installment accounts like car loans are better than revolving accounts like credit cards. New credit (10 percent) - Opening too many new credit accounts over a short period can lower your score. If your client’s FICO score is below 740, some actions can be taken to increase the score to help secure a lower rate. Borrowers need to have a company like San Diego Funding determine their credit score. We are finding that borrowers who pull their own credit scores are not coming up with accurate numbers. We can help your clients review their credit report and correct any errors that are lowering their score. As a direct lender, we have access to several programs that determine specific steps a borrower can take to quickly raise their score if needed. Once your clients have secured their best possible credit score, we can pre-approve them for a more favorable loan and ensure they are able to take advantage of the incredible opportunities in today’s market. #mortgagemike #sandiegofunding #sdfunding #preparetobemoved #realestate #realestateservices #mortgage #mortgagelender #homebuyer #refinance #sandiego #northcountySD #downtownSD #eastcounty #coastalliving #motivation #inspiration #buyahome #mtgmikesd

Delivering a Unique Customer Experience with Market Knowledge & Salesmanship Check out the conversation @davidamoya Moya and I had with @raystendall Stendall of @pacificsothebysrealty about his passion about customer experience. Watch the full link in bio...

On Monday, the FED announced that they would begin buying individual corporate bonds which immediately resulted in a bump in the stock market. As prices were pushed higher, interest rates decreased. Timing couldn’t be better for Sellers to List. Low interest rates coupled with rising consumer confidence is creating a huge demand for housing. Medium home prices continue to rise. In fact, they shot up 4.3% year over year in the week ending June 6, according to a recent Realtor....com report. Today's housing environment has low vacancy and delinquency rates and a large home equity cushion. A lack of available inventory combined with record-low mortgage interest rates is resulting in buyers continuing to return to the market en masse and sellers being able to list their homes for higher prices. Rates fell below 3%, to hit an all-time low of 2.94% for 30-year fixed-rate loans on Thursday, according to Mortgage News Daily. For the past three weeks, the number of buyers applying for purchase mortgages rose year over year, according to the Mortgage Bankers Association. Applications shot up 12.7% annually in the week ending June 5. They were also up 15% from the previous week. Buyers who had hit the pause button during the initial months of Covid-19 are ready to move and are now joining those who were planning to buy during the summer. San Diego Funding has access to numerous loan products to help your clients qualify and take advantage of the summer market. Non-qualified mortgage products, such as bank statement loans, asset depletion loans, and cross-collateral loans and adjustable-rate loans to $5,000,000 are slowly returning. Qualifications have changed so it’s more important than ever to have your clients pre-approved. Please contact me with any questions. I am happy to speak with your clients, get them pre-approved, and explain all available financing opportunities and benefits of making a move now. #mortgagemike #sandiegofunding #sdfunding #preparetobemoved #realestate #realestateservices #mortgage #mortgagelender #homebuyer #refinance #sandiego #northcountySD #downtownSD #eastcounty #coastalliving #motivation #inspiration #buyahome #mtgmikesd