Ray Avanzino, VP of Lending, Guaranteed Rate

Mortgage and Lending - Stearns Lending - NMLS # 288504
Last Week in the News Existing home sales rose 7.6% in April to a seasonally adjusted annual rate of 5.77 million units from 5.36 million units in March. The inventory of unsold homes on the market rose 11.5% to 4.04 million, an 8.4-month supply at the current sales pace, up from an 8.1-month su...
Last Week in the News The Commerce Department said wholesalers increased their inventories by 0.4% in March, following a 0.6% rise in February. Sales at the wholesale level rose a robust 2.4% in March, marking the 12th straight monthly gain. The Mortgage Bankers Association said its seasonally ad...
Sometimes it just does seem as easy as it appears. You are looking to buy an investment property or a rental, and you may even own a couple or so and want to refinance. When income is calculated, remember, the rental income is adjusted to 75% of the actual rental revenue. You may ask, what about ...
Good morning, 203K Rehab loan! What is it? This is a loan, through FHA, that allows a consumer to either buy or refinance a home that is in need of repair.  Great for REO's and foreclosure, or short sales.  Let's say you do not have the money but want to fix your roof, remodel your kitchen, add o...
Ok, here we are, the big Fed tax credit is over.  You must have been in escrow by April 30th, and close by June 30th, so if you are not in contract, it's over. But wait, we also have the State tax credit, just started in May, May 1st, in fact.  Not as juicy as the Fed program, but still very nice...
Does it pay to buy a home?  Of course, it all depends on your situation. I work with new home buyers every day.  Recently, I was working with a couple that was interested in buying a home with little down on the San Mateo Peninsula.  I recommended an FHA loan at 3.5% financing.  The property was ...
    I've Joined Prospect Mortgage!   I'm very pleased to announce that I've joined Prospect Mortgage, a direct lender and one of the nation's largest independent residential retail lenders. Prospect Mortgage is backed by the strength and stability of Sterling Partners - a multibillion dollar priv...
Yesterday Fed Reserve Chairman, Bernanke spoke and held the rates again, see video. http://www.youtube.com/watch?v=Dlb8in-Ny_o As for mortgage rates, they are still looking really good. The tax credit is still available to first timers, and also to existing home owners, but you must be in escrow ...
Today's posting is short and sweet.  Thought I would share this latest mobile marketing tool. Could be a great new mobile  tool for realtors... www.txtagt.com Enjoy!    
A lot of new changes for FHA buyers and sellers, some for the good and some, maybe, for the bad. Anyway, some of what is happening are fee's are going up,  borrowers with lower credit scores are penalized, and a new "flipping" rule. Starting today, upfront fee's that are paid for mortgage insuran...

Ray Avanzino

local_phone(650) 257-2068
smartphone(650) 576-6531
Contact The Author