Athena Paquette's (apaquette) Blog

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Mortgage and Lending - Stratis Financial

ARCHIVED BLOG POSTS

2016 

No credit, no loan. FALSE!I had a client who was referred by their Realtor, whom I have never met and works in the valley. The client told me that they had been turned down because they have no credit score.The banks claimed that because there was no credit score, they could not sell the loan bec...
03/30/2016
Last year Mike was turned down for a loan because he wrote off too many expenses on his tax return. He also had had 3 months off because of an injury, and as a union worker did not get paid for that time off.He could have lowered the interest rate from 4.99% to 3.99 at the time. Unfortunately bet...
03/28/2016
FALSE!At times Fannie Mae and Freddie Mac’s automated underwriting system (DU and LP) will calculate that a borrower has good enough credit or enough equity or enough cash reserves where they find this borrower is low risk and therefore only needs to present 1 tax return.This is very helpful espe...
03/24/2016
FHA loans are bad because they have PMI.FALSE. There are no good or bad loans; it depends on what’s right for you. I have client who recently called to refi. Their interest-only loan was about to become principal and interest with DOUBLE the payment they currently pay ($980 to $1900). They also h...
03/22/2016
You probably remember the interest only loans from years ago. Those loans were most popular in 2005, 2006, and 2007. Most of them had a 10 year interest only period after which the loan started to amortize (include principal).Here we are 10 years later and people are starting to get the announcem...
03/18/2016
Investing out of state is risky. YES and NO. So many investors ask me now where to find good returns on their real estate investment in Southern California. The honest truth is that it’s tough. I have found good investment properties in the central valley and in the IE, and many people followed m...
03/16/2016
After waiting 3 months for a loan, a local woman puts a message out on Facebook about finding a good lender. My assistant is friends with her and responded right away that she works for the “smartest lender ever in her 35 year in the business.” Ah, shucks. …This client is a CPA, but has partial o...
03/14/2016
You have to have 2 years employment to get a loan.FALSE! I was reminded of this today when a realtor asked me if their client who had just graduated from their Bachelor’s degree last June could buy a home, or if they have to wait until 2017. I told her YES, that this hard-working lady and new gra...
03/10/2016
FALSE!My experience in the last 25 years is that when they raise the prime rate, markets react with a sign of relief, and therefore, at least temporarily, the fixed rates go down. Also it should be noted that when the prime rate goes up, corporations’ debt service becomes more expensive, and over...
03/08/2016
FALSE!My experience in the last 25 years is that when they raise the prime rate, markets react with a sign of relief, and therefore, at least temporarily, the fixed rates go down. Also it should be noted that when the prime rate goes up, corporations’ debt service becomes more expensive, and over...
03/07/2016
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Athena Paquette

Athena Paquette, M.A.
local_phone(310) 218-6855
smartphone(310) 218-6855
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