George's Blog Don't get scammed by bogus rate quotes October 12th, 2011 6:35 PM In this time of low rates,I'm sure you receive refinance solictations in the mail from all over the country. Some things to look out for-1. Is the company licensed to do business in California? Look for their address and California license number. 2. Does the rate look too good to be true? Look at the terms very carefully, super low rates are either come-ons, or adjustable rate loans disguised as fixed rates. There is no law that says the rates you are quoted in advertising have to be true, it's all designed to generate the phone call. Another method of lowball rate quotes is to quote a rate good for 10 or 15 days; it is not possible to close a loan in 10 or 15 days. Finally, be aware that rates you may see are all only estimates, all legitimate rate quotes are custom each persons circumstances of credit score, loan to value ratio (LTV, what your house is worth relative to the loan balance); and type of property. These factors can make a very significant difference in the pricing of your loan quote- it's all based on "risk based" pricing models- the lower the risk, the better the pricing. You'll ideally want to have a 740 credit score or higher, a 70%LTV or less, and single family detached home. Be sure to check with a local reputable mortgage broker like Horizon Financial Associates for a discussion of your situation. Posted by George Duarte on October 12th, 2011 6:35 PMPost a Comment (0) Subscribe to this blog * Name: * Email Address: URL: Comment: Type the characters you see in this picture, click "Submit" when finished.   This helps us prevent automated programs from posting comments and sending spam. * Name: * Email Address: Address: City: State: Zip:   This helps us prevent automated programs from creating bogus contacts and adding them to your contacts database.

Recent Posts: Energy Efficiency Financing Training experience today- the nuts and bolts of it More benefits of Clean Energy The Green Home Concept is Growing Another Energy Saving retrofit information resource New Zealand's first passive solar Eco-House FHA Tightens Lending Rules- Thanks! President Obama proposes new refinance program in State of the Nation Speech Idea to stimulate real estate sales- down payment protection insurance-discussion? Mortgage rates go up- Thanks to the Government- there is no Free Luch (anymore) Home energy efficiency outreach- why not get started? Archive: October 2007 So what’s The Real Deal this time? Posted by George Duarte on October 30th, 2007 11:38 AM “The Real Deal Guy” Posted by George Duarte on October 18th, 2007 10:59 AM January 2012 Ugly story of one of the major Subprime lenders who caused the Fall Posted by George Duarte on January 12th, 2012 6:44 PM "Green Homes"- Residential Energy efficiency- my new emphasis for 2012-The beginning of the journey Posted by George Duarte on January 10th, 2012 6:26 PM Federal Reserve Bank White Report "The U.S. Housing Market:Current Conditions and Policy Considerations" Posted by George Duarte on January 5th, 2012 7:14 PM Holidays are over, back to business Posted by George Duarte on January 4th, 2012 5:57 PM December 2011 How can I learn about and adopt the latest energy efficiency techniques for my home? What resources are available? Posted by George Duarte on December 12th, 2011 1:43 PM Making a difference in your home environment Posted by George Duarte on December 12th, 2011 12:50 PM October 2011 Don't get scammed by bogus rate quotes Posted by George Duarte on October 12th, 2011 6:35 PM April 2010 2010 3rd Annual Pleasanton Real Estate Town Hall Posted by George Duarte on April 16th, 2010 7:07 PM March 2010 Veterans lost VA refinance benefit! Posted by George Duarte on March 23rd, 2010 3:55 PM April 2009 What Does a Best Mortgage Broker do? Posted by George Duarte on April 1st, 2009 5:12 PM March 2009 The HVCC- Housing Valuation Code of Conduct Posted by George Duarte on March 10th, 2009 11:42 AM February 2009 George L.Duarte Earns the Highly Coveted Lending Integrity Seal of Approval Posted by George Duarte on February 2nd, 2009 6:36 PM July 2008 Stimulus Bill Passed by House, Bad news for Californians! Posted by George Duarte on July 24th, 2008 1:31 PM Current State of Mortgage Financing- Status Report Posted by George Duarte on July 23rd, 2008 3:42 PM May 2008 Foreclosure Infection & Property Values Plague- a Radical Solution Proposal Posted by George Duarte on May 15th, 2008 8:08 PM March 2008 Manage Your Credit and Credit Scores, Pt.2 Posted by George Duarte on March 18th, 2008 6:37 PM YOUR GOOD CREDIT HISTORY IS MORE IMPORTANT THAN EVER Posted by George Duarte on March 17th, 2008 6:29 PM Economic Stimulus Package- The Real Benefit to Californians Posted by George Duarte on March 4th, 2008 10:15 AM January 2008 RELIEF FOR CALIFORNIA! Posted by George Duarte on January 29th, 2008 11:10 AM The Crystal Ball for the New Year-Mortgage Marketplace Posted by George Duarte on January 15th, 2008 12:24 PM So, what’s the damage? How bad has it been locally? Posted by George Duarte on January 15th, 2008 12:22 PM December 2007 Are things really "That Bad"? Posted by George Duarte on December 20th, 2007 3:38 PM Fed Mortgage Bailout- Does it help? Posted by George Duarte on December 13th, 2007 10:31 AM November 2007 The Real Deal Guy sez: “The Baby is getting thrown out with the bathwater!” Posted by George Duarte on November 15th, 2007 10:25 AM January 2012 (4) December 2011 (2) October 2011 (1) April 2010 (1) March 2010 (1) April 2009 (1) March 2009 (1) February 2009 (1) July 2008 (2) May 2008 (1) March 2008 (3) January 2008 (3) December 2007 (2) November 2007 (1) October 2007 (2) My Favorite Blogs: Sites That Link to This Blog:

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