Athena Paquette's (apaquette) Blog

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Mortgage and Lending - Stratis Financial
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...
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...
I received a call this week from a past client who was selling his condo, complaining that the buyer got turned down for a loan with Wells Fargo.   The bank told the buyer it was because the condominium community, here in Torrance, had 50% of the units occupied by tenants.   I quickly explained t...
The SSA recently announced that they will no longer issue printouts confirming your social security number.   When we finance an FHA or VA loan, we will now need a copy of your social security card. We used to be able to take a printout stamped and signed by an SSA employee in lieu of the card. T...
What is a Pull and How Does it Affect You Credit Score? A “pull” is when a potential creditor pulls your credit report, also called an inquiry. People are told that inquiries can bring down your credit. This is true, but only by a few points. Other credit profile items, such as a new account or a...
Economic news: People often ask me what the economic news has to do with real estate. How does the GDP affect interest rates or the price of real estate? Or what do I mean that the Consumer Price Index could affect the price of a home in Torrance? On some economic news not much happens, but other...
         Congratulations! You just got married and now you want to add your new spouse to the title of your home. Putting your spouse on title (adding them to the ownership) is a simple process. All you need to do is have a grant deed prepared, sign it in front of a notary public, and then have i...
The seller wants to rent back.  Is that ok? Yes.  The loan docs for an owner-occupied loan state that the buyer must promise to move in within 60 days and live there for a minimum of 1 year.  So the seller can rent back for up to 59 days, or before the close of Escrow. I just had a bad apprasial ...
Myth Buster of the Week: True or False: Retired people, or people on fixed income cannot qualify for a Loan. False! It’s surprising to me just how many people think that being on social security or disability means you can’t get a loan. That is simply not true. As long as the amount of the mortg...
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Athena Paquette

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