Derek Altoonian

11/03/2023

I know I don’t post a lot…. But felt I needed to throw this out there.

Rates being high is the best thing to happen to buyers in the past 3 years….WHY????


Right now you can negotiate closing costs, home prices, NOT pay OVER asking price and not have to pay differences from appraisal to the higher sales price. Most homes are appraising for substantially more than what they are going under contract for.



Take a current situation that has roughly a $600k loan:



Bought the home for 10k under asking price, got $20,000 in seller concessions to pay for closing costs and/or help with the monthly payments for the next 2 years. And…..the home appraised for $50,000 more than the sales price. This couple just made $80,000 today. Add an extra $35,000 for appreciation over the next year. They made over $100k in 1 year in addition to there daily income.



The negatives: It is about $1000 more a month in interest than a “normal” rate (not taking into account the reduction on your income taxes). A refi costs roughly $6000. That is a cost of $18,000.



$115,000 - $18,000 = $ 98,000.00 in an increase in wealth. That is HUGE!

10/04/2023

This is huge all!!!

It used to be substantially more down for multi unit primary residences for conventional loans!!! It is now only 5% down! You can get a 2 to 4 unit property now for 5%!!

11/21/2018

07/03/2018

From the entire LoanStar family, we wish you a spectacular and safe Independence Day!

06/29/2018

Independence Day is next Wednesday! At LoanStar, we cook up a mean home loan! What do you plan to BBQ on July 4th?

06/15/2018

Happy Father's Day! From everyone at LoanStar we wish all the dads out there a great day of grilling and chilling!

06/08/2018

With many no or low down payment options, low interest rates, and escalating rents, consider buying your home instead of renting. Contact me to see if you are eligible!

06/01/2018

Welcome to June and the unofficial kick-off to summer home buying! I'm here in person to help you or someone you know get pre-approved!

05/25/2018

Monday is Memorial Day and we are closed for the holiday. Enjoy your time with your family and friends as our country honors those that protect our freedom.

05/18/2018

When interest rates go up, it impacts how much home you can afford. This info-graphic demonstrates hypothetical scenarios based on a static principle and interest payment with 20% down payment and different, 30 year fixed term Annual Percentage Rates (APR).* Ready to lock in soon? Let's chat about options!