Allwin Capital

02/27/2018

FIRE VICTIM ASSISTANCE

NEED TO REBUILD? But the insurance doesn’t cover all of the costs?
We can help you finance the difference - whether a renovation or from the ground up!

RENTERS, Need to move due to natural disaster damage? We can help you BUY or RENOVATE a home (already built) with no money down.
- Special loan programs available for 100% financing for affected RENTERS and HOMEOWNERS in disaster declared areas
- Low FICO score OK (minimum 620 FICO)
- Up to $648,600 (Santa Rosa county)
- Up to $672,750 (Ventura county)
- Competitive rates
- Renovations loans to cover minor or major improvements
- Full Build loans to cover new house (including new foundation)
- Ability to finance the lot, improvements, and construction into one low-rate loan
Please call (or email) and have our loan experts help you rebuild your life.
650-356-3333
[email protected]
Allwin Capital
California BRE 01884597
NMLS ID 349997

https://allwincapital.com/contact-form/

05/30/2017

https://themortgagereports.com/28706/june-2017-mortgage-rates-forecast-fha-va-usda-conventional

Mortgage rates are poised to move in June. The Fed is likely to raise rates and issue its own predictions for future hikes. Analysis and forecast.

05/17/2017

Another great review for Chi Mak - Loan Officer.

“As a Broker Owner of franchise office one must create synergies with top in in their filed. One such loan agent that I like to recommend is Chi Mak from Allwin Capital. Chi's professionalism, integrity, and knowledge speaks for itself when it comes to loan. He is at top of his game, staying ahead of closing files, deadlines, and complications. He addresses concerns head on and does not display any sort of hesitation. Chi does not just close files for the sake of numbers, he creates long lasting relationship. His approach is to provide clients with all options before locking them in for any particular type of loan. Chi has been involved with our office for number of months and on thing in particular that I admire is that he is reachable any time of the day. He keeps clients in the loop during their purchases process. He doesn't stop even when complications arise.” - Parm

Chi Mak (Fluent in Cantonese & Mandarin)
CA BRE 01372415 / NMLS 307411
Cell: (650) 799-9592
Email: [email protected]

05/17/2017

Another great review for Chi Mak - Loan Officer.

“As a Broker Owner of franchise office one must create synergies with top in in their filed. One such loan agent that I like to recommend is Chi Mak from Allwin Capital. Chi's professionalism, integrity, and knowledge speaks for itself when it comes to loan. He is at top of his game, staying ahead of closing files, deadlines, and complications. He addresses concerns head on and does not display any sort of hesitation. Chi does not just close files for the sake of numbers, he creates long lasting relationship. His approach is to provide clients with all options before locking them in for any particular type of loan. Chi has been involved with our office for number of months and on thing in particular that I admire is that he is reachable any time of the day. He keeps clients in the loop during their purchases process. He doesn't stop even when complications arise.” - Parm

Chi Mak (Fluent in Cantonese & Mandarin)
CA BRE 01372415 / NMLS 307411
Cell: (650) 799-9592
Email: [email protected]

05/16/2017

Compared to yesterday, mortgage rates are either a little bit higher or lower depending on the lender at the moment. On average, they've inched just past last Friday's levels, meaning they're the lowest in 2 weeks . As nice as that sounds, it's worth noting...

05/09/2017

Stop paying rent and buy a home

05/09/2017

Stop paying rent and buy a home

05/08/2017

Owning beats renting in new households for the first time in a decade

More new US households chose to buy than rent in the first quarter, marking the first time in a decade that new households have favored buying over renting, according to a Wall Street Journal report.

According to Census Bureau data, 854,000 new-owner households were formed in the first quarter of 2017, handily beating the 365,000 new-renter households formed in the same quarter.

The Q1 numbers mark the first time since the third quarter of 2006 that new-owner households exceeded the number of new-renter households, Trulia Chief Economist Ralph McLaughlin told the Journal.

“The fact that many new owner-occupied households are forming is really our first sign that the homeownership rate is on the rise,” McLaughlin said.

The homeownership rate fell from 63.7% in Q4 2016 to 63.6% in Q1 2017, but was still a significant increase from the 50-year low homeownership rate of 62.9% in Q2 2016.

The rise in new-owner households is also a good sign for consumer confidence in the wider economy, Deutsche Bank economist Joseph LaVorgna told the Journal.

“People are looking at housing as being a bit more attractive as memories of the financial crisis fade,” LaVorgna said.

Another indication of the increase in the demand for homeownership is the boom in existing-home sales. Existing-home sales reached a decade-high peak in March, rising by 4.4% to a seasonally adjusted annual rate of 5.71 million homes, according to the National Association of Realtors (NAR).

NAR also reported a boost in the interest of first-time buyers, who made up 32% of the market in March, up from 30% in the same month last year.

http://www.mpamag.com/news/owning-beats-renting-in-new-households-for-the-first-time-in-a-decade-66728.aspx

In a sign that the housing market may be picking up, new-owner household formations are finally beating new-renter formations

05/04/2017

Is renting really cheaper than owning a home?

The responsibility of owning a home can be intimidating for people who’ve only rented in the past, but new data from Zillow suggests renting can actually cost more.

Zillow’s analysis found out that sans increasing monthly housing costs, a typical renter can buy a home almost 50% more expensive than the median valued home and still get to keep the same amount of monthly housing budget.

The median US home value is $196,500, while the median rent in the country is $1,416 per month – an amount enough to pay for monthly housing expenses needed to own a $289,505 home.

“The decision between buying and renting is a financial trade-off between saving more each month on a mortgage payment versus spending more on rent but taking advantage of the location and lifestyle amenities urban renting often offers,” said Zillow Chief Economist Dr. Svenja Gudell. “Recent slowdowns in rent growth may take some of the edge off for renters saving to become homeowners. This is good news, since saving a down payment, qualifying for a loan and finding a home available at a manageable price remain hurdles for millions of aspiring buyers."

Renters in Cleveland can afford a $174,194 home while retaining monthly housing costs, which is representative of more than 80% of homes on the market now, according to Zillow.

On the other hand, San Francisco is one of the only cities where monthly rental payment does not cost more than owning a median valued home.

Here are 15 cities and their rent-versus-owning ratio from Zillow:

http://www.mpamag.com/news/is-renting-really-cheaper-than-owning-a-home-66727.aspx

Renting may seem like a cheap alternative to owning a home, but recent data suggests otherwise

04/24/2017

Mortgage lenders optimistic for purchase market

Despite the challenges of tight inventory and rising interest rates, mortgage lenders are overwhelmingly optimistic about their business this year.

A survey released Wednesday by independent mortgage bankers’ alliance The Lenders One Cooperative, reveals that 94 per cent of respondents expect an increase in mortgage purchase production. A year ago, the figure was 62 per cent.

“Housing inventory remains limited and interest rates have increased sharply since the election,” said Bryan Binder, chief executive officer of Lenders One. “To be successful in this environment, lenders need to focus on the purchase market and new innovation to replace lost refinancing volume. Lenders must also focus on tools and solutions to help them improve operating efficiencies within their businesses.”

The lenders are expecting more first-time buyers this year as economic improvement boosts sentiment among this group. There is also an expectation of increased business from nontraditional buyers, boomerang buyers and boomers.

Jumbo loans are also flagged for growth with 91 per cent of lenders expecting a significant increase in jumbo mortgage origination volume for their organization in 2017.

One group will shape US housing markets report reveals

US housing markets will be shaped by the homeownership desire of immigrants according to a new report from the Urban Land Institute.

This will be driven by foreign-born buyers seeking to own homes in suburban neighborhoods.

The study by the institute’s Terwilliger Center for Housing looks at the impact of foreign buyers since the Great Recession and found that they have contributed significantly to recovery and stabilization of housing markets.

Other key findings of the report include immigrants’ desire for single-family detached homes, often in suburbs where employment opportunities may be better.

New homes are in demand for foreign buyers but the report highlights that existing homes will also benefit from increased demand, enabling boomers to downsize and therefore boosting the market for smaller homes for older buyers.

"If recent shifts in immigration flows continue, an increase in higher-income immigrants – including rising numbers from China and India – could accelerate the demand for homeownership among the foreign-born population," the report says. "Without sustained immigration, the housing market could weaken and in many markets the impact could be dramatic."

The report says that US immigration policy will be a key factor in demand for homeownership and the growth of communities.

http://www.mpamag.com/news/morning-briefing-mortgage-lenders-optimistic-for-purchase-market-65126.aspx

Mortgage lenders optimistic for purchase market… One group will shape US housing markets report reveals… Most Americans have fair knowledge of credit scores…

04/21/2017

U.S. home sales shoot up to 10-year high

WASHINGTON — Americans purchased homes in March at the fastest pace in over a decade, a strong start to the traditional spring buying season.

Sales of existing homes climbed 4.4 percent last month to a seasonally adjusted annual rate of 5.71 million, the National Association of Realtors said Friday. This was the fastest sales rate since February 2007.

The U.S. housing market faces something of a split personality: A stable economy has intensified demand from would-be buyers, but the number of properties listed for sale has been steadily fading. The result of this trend is prices rising faster than incomes, homes staying on the market for fewer days and a limit on just how much home sales can grow. It’s a situation that rewards would-be buyers who can act quickly and decisively.

The inventory shortage largely reflects the legacy of a housing bubble that began to burst a decade ago.

Foreclosed properties were snapped up by investors who turned the homes into income-generating rentals, depriving the market of supply. And many owners who escaped the downturn unharmed chose to refinance their mortgages at extremely low rates, possibly making them hesitant to move to a new house that could increase their monthly costs.

This mismatch between supply and demand can be seen in two simple figures tracked by the Realtors.

Sales have risen 5.9 percent over the past year, but the inventory of homes for sale has fallen 6.6 percent to 1.83 million properties. This means there are essentially more buyers chasing fewer properties.

The consequences can be seen in home values and days on the market. The median sales price in March climbed 6.8 percent over the past year to $236,400, significantly outpacing wage growth. And it took an average of 34 days to complete a sale, compared to 47 days a year ago. In March, sales rose in the Northeast, Midwest and South but declined in the West.

Demand might increase further as mortgage rates began to dip in recent weeks.

Home loan costs had been climbing after President Donald Trump won the November election, under the belief that the government would engage in forms of stimulus such as tax cuts and greater deficits that could cause higher levels of inflation. But major initiatives such as tax reform have stalled in recent weeks as the administration has yet to put forward a proposal, prompting more doubts as to when and whether any stimulus might arrive.

Mortgage buyer Freddie Mac said Thursday that the average interest rate on 30-year fixed-rate home loans declined to 3.97 percent this week from 4.08 percent last week. The average is now at its lowest level in five months.

http://www.mercurynews.com/2017/04/21/u-s-home-sales-shoot-up-to-10-year-high/

Americans purchased homes in March at the fastest pace in over a decade, a strong start to the traditional spring buying season. Sales of existing homes climbed 4.4 percent last month to a seasonal…

04/18/2017

Mortgage rates drop to lowest mark of 2017 – Freddie Mac

The 30-year fixed-rate mortgage (FRM) rate dropped to a new 2017 low during the week ending April 13 as it lost 2 basis points to reach 4.08%, according to a survey Freddie Mac. This marked a fourth consecutive week of decline. A year ago, it averaged 3.58%.

“Following a weak March jobs report, the 10-year Treasury yield dropped about 5 basis points,” said the government-sponsored enterprise.

The 15-year fixed-rate mortgage dropped to 3.34 % with an average 0.5 point, compared with 3.36% the previous week. It was 2.86% at that time a year ago.

The 5-year Treasury-indexed hybrid ARM dipped to 3.18% with an average 0.4 point, from last week’s 3.19%. A year ago, it averaged 2.84%.

“Currently, about 125 lenders are surveyed each week and the mix of lender types – thrifts, credit unions, commercial banks and mortgage lending companies – is roughly proportional to the level of mortgage business that each type commands nationwide,” said Freddie Mac.

http://www.mpamag.com/news/mortgage-rates-drop-to-lowest-mark-of-2017--freddie-mac-65355.aspx

The figures are still higher than a year ago