Real Estate & Loan

Another Happy Client Hello Mr. Sabbagh We really appreciate your help on our refinance. Everything was easy and fast. It was the third time that you help us with our loans and refinancing. We are so happy to now you as our loan officer. Looking forward to work with you again to buy a house or get an another loan. Best regards,... Sahar and Arvin See more

Here are 12 factors that affect almost every borrower’s interest rate: #1 Property Type Condos, high-rise condos and multi-unit dwellings (2 4 units) usually have higher interest rates associated with them, as compared to single-family dwellings.... #2 Property Use Investment properties have higher rates than owner-occupied properties. #3 Credit Scores Credit scores significantly affect rates. A borrower with a 750 mid-score might have a rate as much as 1% lower than a borrower with a 670 mid-score. #4 Down Payment The bigger the down payment, the lower the rate, in most cases. #5 Loan Amount Very small loans (under $150,000 for example) can have higher rates, as can very large jumbo loans (over $3 million for example). In addition, Low Balance conforming loans under $484,350 will have lower rates than High Balance conforming loans (from $484,350 to $726,525). #6 Loan Type FHA and VA rates are usually lower than conforming (Fannie/Freddie) rates, and our jumbo rates are currently the lowest of all for very strong borrowers. #7 Rate Lock Period Interest rates can be locked in or guaranteed prior to close of escrow for 15, 30, 45 or 60 days in most cases. The longer the lock period, the higher the rate. Many lenders quote rates associated with very short 15 day lock periods, even though most escrows require longer lock periods. #8 Fixed Period/Loan Maturity The longer a rate stays fixed, the higher the rate. For example, a 7/1 ARM (fixed for seven years) will usually have a lower rate than a 15-year fixed-rate loan, and a 15-year fixed-rate loan will have a lower rate than a 30-year fixed-rate loan. #9 1st/2nd Combo Loans Loans with a concurrent 2nd mortgage can have higher rates too, depending on the loan-to-value ratio. #10 Points/Fees Lenders often have hidden points and fees in their quotes that they are not disclosing up front when they just quote a rate. #11 No Cost Refi’s No cost refinances have higher rates than refinances that have fees built in. This is because lenders have to charge higher rates for a no cost loan in order to generate enough extra commission to be able to pay for closing costs on behalf of borrowers. #12 Cash Out Refi’s When refinancing borrowers increase their loan amounts in order to pull cash out against their home, rates are usually higher depending on the loan to value ratio.

California conforming loan limits have been increased for 2021. $548,250, for a single-family home. Higher-priced areas, like those in the San Francisco Bay Area, have conventional limits of up to $822,375 due to higher home values. Other counties fall somewhere in between these floor and ceiling amounts.

Another Happy Client: I negotiated for my buyer a condo in San Jose. I was able to reduce asking price $ 35,000 from a reduced price (total saving of $ 85,000). My buyer was very happy about it. I also got loan for my client. Buyer decided to pay some of closing cost and I was able to get some discount on closing cost. I got 15 years fix conforming loan 1.99 % interest rate . ... I am very happy for my client. Please call me if you are interested to buy a home, get loan, or refinance your current loan : (408-275-1798)

Another Happy client :-)) Dear Sabbagh, It was a pleasure doing business with you! Very much appreciated to your careful planning and good advice, everything went perfectly from start to finish in bringing our dream of home ownership to completion. You have been wonderful since day one, working with you was fabulous, and you can be sure that we'll most definitely be passing on your information to anyone we find purchasing a new home or needs mortgage services. We felt like yo...u were on top of everything and that put us at ease in making the deal. We have been so impressed by your thoroughness, detail, and consideration. Thanks again, Sharareh and Vishtasb See more

A nice Recomendation from buyer, closing was 2 days ago in San Fransisco area. Dr. Hassan Sabbagh is very responsible with a lot of care and patience toward his clients." Sincerely,... Z.H See more

Another Happy Client Hi Hassan, Thank you for your help to buy my first home about a year ago with the best market rate. Also, I appreciate for your alert about new lower mortgage interest rates that I can apply for it.... I like to work with you in future because of your honesty and professionalism. I hope you inform me with new lower rates in near future . I liked this one. Best regards, O. R.

Another lucky home owner. After looking for more than one year, finally buyers offer was accepted. I was also able to get two loans for lucky customer (big lenders were not able to approve loan amount). Listing price was 1.5M and I reduced $ 25K after some negotiation. Call me if you like to get free consulting regarding your next purchase: 408-275-1798

Getting Out of Debt Before Retirement If you can afford the higher payments, now is a great time to get rock-bottom rates on a shorter loan. By paying it off in half the time, many borrowers can ensure that they will own their home free and clear before they hit retirement age. The elimination of that giant debt load can bring great peace of mind when you make the switch to a fixed income. Call me for free consultation: 408-275-1798

This week we explore a recent article dedicated to understanding what the 0% Fed Rate means for the mortgage market here are the key points: Mortgage rates are most influenced by the bond market and the bond market is most influenced by the Federal Reserve (aka "The Fed") So when the Fed says it expects rates to be "zero" at least until the end of 2023, does the same go for mortgage rates? Correlation is indeed much more reliable over such long time frames, but for those i...nterested in the here and now, the Fed Funds Rate does us little good This is actually quite understandable given that the Fed Funds Rates governs overnight transactions between large financial institutions. That's a very different scenario than a 30yr fixed mortgage and, as we know, different scenarios (and especially different time frames) have a big impact on rates. Lenders haven't needed to drop rates any faster because they're already as busy as they can possibly be (supply vs. demand). While the new (Adverse Market) fee has done damage to rates across the board, it is technically NOT charged on purchases, and purchase rates have indeed fared much better. Fortunately, the Fed Funds Rate is only one of its policy tools The Fed's bond buying programs mean mortgage rates are 0.6 to 1.2% lower than they otherwise would be, and infinitely easier to obtain The 0% Fed Funds Rate is just one expression of their commitment to policies intended to help strengthen the economy Whether that's for months or years will depend on the pace of the economic recovery and the extent to which coronavirus permanently reshapes the global economy See more

Another lucky cash buyer. I wrote an offer for my cash buyer less than 5% asking price, closing in 10 days. After a few days negotiations, offer was accepted yesterday. Congratulation to my buyer buying their first home. Please call me for free consultation: 408-275-1798.

Interest Savings A 15-year fixed rate home loan is a popular option for borrowers looking to be mortgage-free sooner. These shorter loans come with even lower interest rates than 30-year mortgages, allowing homeowners to save thousands in interest. For example, for a borrower with a home valued at $300,000 with a 20% down payment, the interest rate on a 15-year mortgage might be something like 2.5% compared with 3.0% for a 30-year mortgage. At those rates, the total mortgage costs would be $348,052 and $424,266, respectively. The 15-year loan would produce a savings of $76,213 over the 30-year mortgage. Call me for free consulting: 408-275-1798

Another Downside Risk Emerges Congress has just five days to pass another rescue aid package before they are off to campaign for the November election, leaving very little time to overcome an impasse that has unexpectedly stalled the measure in Congress. Political pundits and economic analysts were nearly assured Congress would act in August (me included), but then August turned into September and now another fiscal stimulus package appears to be a definite long-shot at this...Continue reading

Another happy customer, 15 years fix 2.25% interest, all closing cost paid with more than $ 6,000 ptincipal reduction. Broker charge $ 5,000. Call me for free consulting. 408-275-1798.

Another happy customer finished refinancing her loan, 15 years fix, 2.25% interest. Call me for free consulting: 408-275-1798

9/4/2020 To Whom It May Concern, My wife and I had the pleasure of working with Hassan Sabbagh to refinance our home. Early in the process we shopped around a bit for the right person to suit our needs and everyone we came in contact with failed to impress us. Hassan was highly recommended to us by a family member. Hassan did not disappoint! Within the first five months of our initial phone call he assessed our situation and provided us with several viable options that suited... our specific needs. We had many questions for Hassan and he made himself available 24/7. Every communication with him was thorough, punctual, and sincere. Hassan is very knowledgeable and treated us with respect and great patience. He went out of his way to take care of us as if we were his only clients. Hassan was there with us through every step of the refinance process and even discussed options for future opportunities.. My wife and I, my father, and my sister and her family have all had the benefit of working with Hassan and I look forward to future endeavors. Sincerely, Jason and Jamie Sanchez See more

How often can you refinance? Source: Fox Business News With mortgage rates at record lows, homeowners may be wondering if they should refinance their home loan.... If you've already refinanced your home in recent years, you may be questioning whether you should consider another one. You can refinance your home more than once the question is whether it makes sense for you to do so right now. If your mortgage rate is more than one percentage point above current rates, it usually makes sense to refinance, experts say. But whether you can benefit from refinancing comes down to when you plan to sell your home and how long it would take for you to recoup your closing costs.

Why Warren Buffett advises homeowners to refinance Source: Yahoo News Homeowners who haven’t refinanced their mortgages lately to slash interest rates and monthly payments, investing guru Warren Buffett advises: stop procrastinating.... Rates on 30-year fixed-rate mortgages have been dirt-cheap in 2020 and are currently averaging just 2.91%, according to the nearly 50-year-old survey from mortgage giant Freddie Mac. That's close to the all-time low of 2.88%, reached in early August. "This is a very good time to borrow money, which means it may not be such a great time to lend money, but it’s good for the country that it’s a good time to borrow money," billionaire Buffett said recently.

Another Happy Customer I closed new cash out refinancing for a couple yestarday. Customers had 2 loans which needed to be paid in full and wanted some cash to updated kitchen. Cash out loan has mostly higher interest rate, I could lock the rate at right time. 30 years fix, loan amount $ 750,000, 3.44% interest rate. Do you like refinance your loan or purchase new property. Please call me for free consulting (408-275-1798).