Oscar Vallejo, NMLS #246345

04/15/2025

02/14/2025

Here's a look at the total number of homes for sale in the East Sacramento market. It's a combination of new listings coming to the market this month, plus the ones that are still available from previous months. As your local expert, I can help you find what you're looking for right here in our area.

04/27/2022

In a recent survey, homeownership ranked as the top indicator of financial success. That’s because, as a homeowner, you build wealth in the form of home equity.

If you’re interested in learning more, or if you’re ready to start building your net worth as a homeowner, DM me today!

04/20/2022

Broaden your vocabulary with some more home buying terms!

04/18/2022

Are you curious to learn how much equity you have in your home? I think you'd be surprised to hear how much you've built in just the last year alone!

There are a number of ways you can use this equity to benefit you and your family. If you have questions or are wanting to learn more give me a call today.

03/31/2022

Here are some more key terms you should familiarize yourself with when preparing to buy a home:

03/22/2022

In order to make sure you are fully prepared to buy a home, it is important to familiarize yourself with key terms associated with the home buying process. Here are just a few examples of what you could see:

03/02/2022

The benefits of buying vs renting. There is never a bad time to break into the real estate market and start putting money back in your pocket!

Who do you know that's thinking about buying this Spring?

02/15/2022

Some great info on Cash-Out Refinances from Caliber's winter newsletter:

"Imagine your dream kitchen, spa-like bathroom oasis, or perfect backyard. Or envision paying off debt, sending your kids to college free of student loan debt, finally taking that vacation, or having money to invest and build wealth. Now, picture having available funds to transform your vision into reality – without having to dip into your hard-earned savings. And no, you don’t have to win the lottery to access cash to lead the life you’ve always wanted… A cash-out refinance may be the solution you’ve been waiting for!

How a Cash-Out Refinance Works:

A cash-out refinance is a loan type where you essentially “cash in” your home equity for cash in your pocket. Generally, this loan type replaces an existing mortgage with a loan amount that’s more than the current mortgage loan. You receive the difference between the two loans (i.e., home equity) in cash at closing. Keep in mind that you most likely won’t be able to take out 100% of your home’s equity – the max LTV (loan-to-value ratio) is usually 80%.

Types of Cash-Out Refinances:

Just like a mortgage for a home purchase, there are many different loan types to choose for a cash-out refinance, including FHA, VA, conventional, and jumbo loans. With both conventional and FHA loans, you are required to leave at least 20% equity in your home after a refinance. With a VA loan refinance, you can cash out all the home equity.

Additionally, and again, like a mortgage intended for a home purchase, there’s a process from the time of application to closing, including underwriting, processing, and approvals. Keep in mind that closings costs, other fees, and appraisals are all a part of cash-out refinance loans as well.

Pros and Cons of a Cash-Out Refinance:

As with any decision, especially a major financial decision like a cash-out refinance, weighing the pros and cons helps you understand if it’s a good fit for you.

Pros to Consider:

Interest rates are typically lower than HELOCs and personal loans
There’s a variety of loan types to choose from
The mortgage interest may be tax-deductible
The cash from your home equity can be used for nearly anything you want

Cons to Consider:

A cash-out refinance will likely extend the repayment time of your mortgage
Closing costs and origination fees are expenses to consider
If your interest rate on your current mortgage is lower than what you could qualify for with a cash-out refinance, you could have a higher interest rate loan, paying more every month"

If you're interested in learning more about cash-out refinances and how they can benefit you, please don't hesitate to reach out. I am happy to discuss any and all options you may have.