New Beginning Mortgage

Please check out my new listing, this home is priced to sell and will not last. Thank you for viewing,

For the first time ever, homeowners who rent their primary residence on Airbnb can include their hosting income on mortgage applications when they refinance their existing loans with three lenders; New Beginning Mortgage is partnered with one of the lenders.

I had a client today selling his home for the first time and didn't understand how capital gain works...Many people mistakenly believe that their gain is simply the profit on the sale ("We bought it for $100,000 and sold it for $650,000, so that's a $550,000 gain (500K allowed for married, 250K for single), and we're $50,000 over the exclusion, right?"). That is incorrect, It's not so simple -- a good thing, since the fine print can work to your benefit in such instances. You...r gain is actually your home's selling price, minus deductible closing costs, selling costs, and your tax basis in the property. (Your basis is the original purchase price, plus purchase expenses, plus the cost of capital improvements, minus any depreciation and minus any casualty losses or insurance payments.) Deductible closing costs include points or prepaid interest on your mortgage and your share of the prorated property taxes. Examples of selling costs include real estate broker's commissions, title insurance, legal fees, advertising costs, administrative costs, escrow fees, and inspection fees. So, for example, if you and your spouse bought a house for $100,000 and sold for $650,000, but you'd added $20,000 in home improvements, spent $5,000 fixing the place up for the sale, and paid the real estate brokers at least $25,000, the exclusion plus those costs would mean you'd owe no capital gains tax at all on the scenario given. For more information, see IRS Publication 551, Basis of Assets, and look for the section on real property, your CPA also can help you with this calculations before you put your home on the market for sale. See more

Being a member of OCAR (orange county association of realtors) I get emails from RE agents with their new listings, this past week I have received 7 emails with HUGE PRICE REDUCTION, sellers must sell.... Not sure where the market is heading... this is my take rates are 1% higher than they were back in September of 2016 (you can google this). 1% increase on an average loan amount of 450K is a cost of an extra 257.75 per month for the mortgage payment ... In other words a borr...ower in September of 2016 that can afford a loan for 450K means today they can only afford a loan for 398,500.00 that is 51,500 less buying power (a tad over 11%)..... Which also could mean that your typical borrower to keep up with the 1% increase buyers should receive an increase in salary of 13.7 %, Did you get your increase??? According to A report from consulting firm Korn Ferry predicts that workers around the world will get a real pay increase of just 1.5% on average in 2018. That's the smallest bump forecast in five years. My advise is hang in there, if you need to consolidated debts then do a cash out refinance ASAP while values are still high and position yourself with a comfortable payment and get rid of the credit cards! If you are buying to flip or invest for less than 5 to 7 years, DON"T. If you have investment property and you were thinking of selling, it is time to sell, but price aggressively. If you are buying to live and enjoy..BUY you can always refinance after any correction. See more

NEW Listing under 400K! 51 Via Pamplona # 89, Rancho Santa Margarita CA 92688 Check it out on @zillow website! www.zillow.com #rsm #california #ranchosantamargarita #socal #socalrealestate #carealestate #zillow #forsale #newlisting #pool #summer #lifestyle #californialiving #highend #orangecounty #marblekitchen